The Federal Reserve is having a tough time justifying future rate hikes, Quincy Krosby, market strategist at Prudential Financial, said Monday.
"The Fed is caught between a rock and a hard place. They think they want to raise rates, but the economic data here in America is not doing well," Krosby told CNBC's "Squawk on the Street."
The U.S. central bank is scheduled to kick off its second policymaking meeting of 2016 on Tuesday, with several economists and experts expecting interest rates to stay unchanged.
In fact, the market is not expecting the first rate hike until September, according to the CME Group's FedWatch tool.