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Power Lunch

Power Play: Why the world will look better in 2016

Moving traffic in London, England.
Joe Daniel Price | Getty Images

The markets are on edge, reacting to data that could impact the Fed's view on interest rates and global growth.

But Jeffrey Kleintop, Chief Global Investment Strategist at Charles Schwab, tells CNBC's "Power Lunch" on Tuesday do not obsess over the Fed's view of the global economy.

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"The IMF is more often a better predictor of growth and inflation than central banks, such as the Federal Reserve. Like the IMF, we foresee a stronger world economy in 2016 than in 2015 or 2014 which should help support the stock market," Kleintop said.

He points out the IMF maintained their outlook for stronger growth in 2016.

"The eurozone will accelerate slightly (to 1.6 percent) from the pace in 2015 which was already the fastest growth since 2010. Economic growth in the United States will improve slightly (to 2.8 percent), making for the fastest annual pace of growth since 2005," Kleintop said.

He believes faster economic growth should translate into better sales for companies and drive faster earnings growth.