On CNBC's "Futures Now" Thursday, the former U.S. representative said that if the U.S. central bank surprises Wall Street and opts to not raise interest rates next week, it could send stocks and bonds tumbling. "It looks like it would be a real shock to everybody, including the markets if they don't hike," said Paul, who up until recently believed the Fed would not hike this year. "It would really shake up the markets," and add "another degree of uncertainty" for investors, he added. As he believes a rate hike is already priced into the equity and fixed-income markets.
"In a way, it's amazing the amount of attention it's been getting when you think what a quarter-percent of interest means," said Paul, a former Republican presidential candidate. "Of course it annoys me a lot because I don't believe there should be any regulation on interest rates because you destroy the very information most people should have to make good business decisions."