Economist: Fed still on track to hike next month, but ...

THIS could prevent the Fed from raising rates: Pro

The Federal Reserve is still on track to raise interest rates for the first time in more than nine years despite the attacks on Paris, Dean Maki of Point72 Asset Management said Monday.

The deadly assaults carried out by the so-called Islamic State killed at least 129 people and injured hundreds more. They also raised questions as to whether or not the Fed would hold off on a rate hike.

Still, Maki — his firm's chief economist — said there are two factors that could thwart the central bank's plans for tighter monetary policy.

Federal Reserve Board Chair Janet Yellen.
Beyond the first hike: Fed's pace is big unknown

"In order to derail the Fed from their plan to hike in December, we'd need to see markets turn extremely volatile," he told CNBC's "Power Lunch." "Or we'd need to see a sudden deterioration in the U.S. data. That doesn't seem particularly likely."

"The U.S. economy, I don't think, is particularly fragile right now. We're in a slow, steady recovery; many people would like it to be faster but the good news on that front is that not a lot of excesses being built up right now. Nobody is terribly optimistic about the U.S. economy," he said.

The odds of the Fed hiking rates next month have held above 60 percent since the release of the October nonfarm payrolls report on Nov. 6, according to the CME Group FedWatch Tool.