Wealth Consulting Group CEO Jimmy Lee believes it's a good idea that the Federal Reserve signaled that it could taper this year, on FOX Business' "Mornings with Maria" Friday. Lee argued if the Fed "waits too long" to fix interest rates, it poses a real risk to the markets.
JIMMY LEE: I think it's a good idea, actually, that the Fed's announcing the taper now and getting investors prepared for it, so that it doesn't really shock the market as much as it could. In fact, I think the real risk, Maria, is if the Fed waits too long and, especially with interest rates, gets behind schedule here and has to raise rates later on too quickly.
That would really, in my opinion, have the biggest impact against the stock market. And that's really the biggest risk I see. So the Fed announcing now I think is good.
And I don't think investors really should be too concerned about it because it's something that we need to have happen soon, and expect it.
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Wealth Consulting Group CEO Jimmy Lee tells investors to ‘expect’ the Fed to fix interest rates.