The stock market acted like a "spoiled" child having a "tantrum" this week, fearing a Federal Reserve rate hike after years of easy policy, a financial advisor said Friday.
"It's been getting everything it wants," Ken Mahoney, president of Mahoney Asset Management told CNBC's "Closing Bell."
The three major U.S. indexes fell Friday as the dollar gained against a basket of global currencies and oil dropped. Investors also eyed the U.S. central bank's policy meeting set for next week, wary of a Fed indication that it could tighten monetary policy in the coming months.
Mahoney believes the U.S. economy can "withstand" higher rates. Joe Heider, president of Cirrus Wealth Management, agreed, adding that the Fed should "set the stage" for a return to normalized rates.