"This economy is built on low interest rates," Mark Spitznagel said. "There are lag effects when you reset interest rates like we had."

The Fed is almost certain to leave rates on hold when it announces its decision on Wednesday, but markets will be paying close attention to the central bank's forward guidance.

The financial world constantly buzzes with expectations and predictions. The new year has brought little relief from the noise as Wall Street’s optimism over potential interest rate cuts by the Federal Reserve has been a major topic.