Conditions may be ripe for a December interest rate hike in the U.S., but the global economy is still uncertain, fragile and fragmented, EY's global chairman and CEO Mark Weinberger told CNBC.
"The U.S. economy is stable (but) it has significant headwinds. You're looking at tremendous uncertainty," he said, pointing to the looming U.S. presidential election, the question of when the Federal Reserve will raise interest rates and what effect that will have on the dollar.
But still, he thinks conditions appear ripe for a hike.
"Look at the overall economy: Low interest rates, low inflation, energy prices low, job growth stable, wages starting to rise," he said. "There is a sense of normalcy there, but not strong growth."