Power Play: How to invest as the Fed unwinds

Janet Yellen
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Janet Yellen

Stocks are tumbling on the first trading day of 2016, with the Dow down more than 300-points.

Joe Tanious, investment strategist at Bessemer Trust, tells CNBC's "Power Lunch" on Monday he sees more market volatility this year.

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"Volatility levels [are] likely to be higher next year as Fed unwinds," Tanious said.

He expects 2-4 rate hikes this year and believes the Fed removed some of the market uncertainty by raising rates in December.

"Earnings [are] likely to reaccelerate into 2016 as the drag of lower oil prices begins to fade… We still believe mid-single digit returns are achievable in equities," Tanious said.

The Dow, S&P 500 and Nasdaq are all lower during trading.