An interest rate hike will surely cause market pain, but the Federal Reserve should get it over with, former Dallas Fed President Richard Fisher said Wednesday.
"I would be prepared when they move — and I hope they move some time in June — there'll be a settling in of the market place. There will be a correction. Suck it up. Deal with it. That's reality," he told CNBC's "Squawk on the Street."
Wall Street does not expect the Federal Open Market Committee to raise interest rates at the close of its two-day meeting on Wednesday afternoon, but investors will be listening for clues about rate hikes when the Fed releases its statement.