Interest rate hikes aren't necessarily bad for the stock market, portfolio manager Brian Lazorishak told CNBC's "Power Lunch" on Thursday.
His comments came just a day after newly released Federal Reserve minutes showed that some members of the central bank's Open Market Committee want to make a "relatively prompt" rate hike. However, most members agreed more data were needed before the schedule of rate hikes was moved up.
San Francisco Federal Reserve President John Williams told CNBC on Thursday that raising the benchmark interest rate in the summer of 2015 is a "reasonable guess."
"Think about why the Fed's hiking rates, it's because the economy's improving," said Lazorishak, co-manager of the Morningstar-rated four-star Chase Mid-Cap Growth Fund.
"In that kind of environment, people start focusing a little more on the individual stocks and a little less on the macro. A stock picker can really add value."