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Power Play: Is a December rate hike off the table?

Janet Yellen
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Janet Yellen

The Paris terror attack is raising some doubts that the Fed will raise interest rates in December.

Delphi Management President Scott Black tells CNBC's "Power Lunch" on Monday "Paris may delay the Fed raising rates 25 basis points."

Read MoreFed will not be deterred from hiking rates

Besides Europe, Black believes the Fed is also looking at Japan slipping back into a recession and both events may force the Fed to be on hold.

But Kristina Hooper, U.S. Investment Strategist at Allianz Global Investors, still sees the Fed moving next month.

"We expect the Fed to raise rates in December, but that the path of rate hikes will be shallow. That's because we continue to have high debt levels and modest growth globally," Hooper said.

The Fed opens a two day meeting on interest rates on December 15.