The Federal Reserve has maintained crisis-era policy for too long, and stock markets can handle interest rate normalization, widely followed hedge fund manager Leon Cooperman contended Wednesday.
"There's no crisis ... the time has come to normalize policy. I think it would be more negative if they don't raise than if they do raise," he said on CNBC's "Fast Money: Halftime Report."
The Omega Advisors CEO's comments came ahead of the Fed's decision on whether to abandon its near-zero interest rate policy. The central bank's policymaking committee is widely expected to vote to hike rates Wednesday afternoon for the first time in nearly a decade.