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Worrying about the Fed is 'nonsense': Expert

The Federal Reserve's coming move to tighten policy gradually should not scare investors, as initial increases will leave the central bank "far from normalization," one market watcher said Thursday.

"All the fixation on the Fed interest rate hike is kind of nonsense," said Oliver Pursche, CEO of Bruderman Brothers, in a CNBC "Closing Bell" interview.

The Federal Reserve
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The Federal Reserve

Traders have focused on whether the Fed will raise rates for the first time in nearly a decade at its policy meeting next week. Some experts have cited uncertainty about the Fed's move, as well as lingering concerns about China's growth, amid rocky up-and-down trading in recent weeks.

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"There's so much uncertainty what's going to happen with the Fed. And if they don't raise rates next week, we're going to continue to have this conversation about uncertainty. This is the new normal. We need to get used to it," said Jonathan Corpina, senior managing partner at Meridian Equity Partners, on "Closing Bell" Thursday.

He contended that uncertainty will linger as long as the Fed waits to hike interest rates.

But a rate increase, which will likely be a quarter of a percent or less, would not truly shake markets, Pursche contended. He added that he has grown optimistic on corporate earnings amid headwinds like a stronger U.S. dollar easing up.

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