i still think equities are the right bet. >> let's bring on leon cooperman, his firm owe mega has annualized returns of 42% over the past 24 years. he is with us exclusively today. mr. cooperman, welcome back. it's good to see is you as al. >> call me lee, scott. >> i will. >> the fed is going to go today. do you think they are. what does it mean for the markets? >> i think they should have gone about a year ago. i may be out to lunch. you know, zero interest rates were the result of a crisis. you know, last two years intmt is going up by 200,000 a month. automobile sales are running between 17 million and 18 million. seasonally ajusted annual rate. there's no crisis. thief been screwing the savers. the time has come to normalize policy, and i think it will be more negative if they don't raise than if they do raise. >> are the markets ready? >> i don't think so. i know i sound like a statistician sometimes on your program, but the market multiples are about in line with historical normz in the last 50 years. in the last 50 years the t-bill rate averaged 4.96. the u.s. government averaged 6.6

leon cooperman, chairman and ceo of owe mega advisors.wrefry gundlach, the ceo of double line capital with $80 billion in assets under management. our panel of traders front and center as well. swrosh brown, swrim levanthal, and john and pete are here. here are how stocks look right now.

talk with former fed governor randy kroszer, part of a big day lineup including fef gundlach, leon coopermanbill gross. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. >>> just about six minutes to the bell. less than five hours from the fed decision. let's get to art cashin here at post nine, director of floor at ubs. you long said you did not see a hike coming this year. seems like they'll sneak one in before the bell, but you'll still be watching for dissents among other thing. >> usually yellen likes to go for unanimity, but i think today dissents will be helpful because it will tell the world we're in no real hurry. we have disagreement on the board, don't expect us to keep coming again and again and again. >> so multiple meaning more than one? >> yeah. there's a possibility of three. you've got tarullo, branard and evans. if they don't push hard, they think it through, there may be some dissents. >> it's a market that's been troubled by oil and high yields. yesterday we got a rebound from that. december has not b

. >> and a you spoke to leon cooperman. >> and that makes the market. he says some opportunity where others see perils. he says he sees in terms of stocks. you will see total returns of next year maybe in the 7% to 8% range and like mr. gundlach and many others he expects the fed to go today. >> okay. they kind of painted themselves into a bit of a corner. >> i think everybody has. >> thank you, scott wapner. >>> coming up on "fast money," the new bond king, vanguard's greg davis, he will be live in a cnbc exclusive interview. he's going to be tackling the fed decision and much, much more. that's 5:00 p.m. eastern on "fast money." so as you probably know, we're 48 minutes away and 16 seconds. the countdown is on with the fed's rate decision set to drop at 2:00 p.m. eastern. fed chair yellen's news conference is 30 minutes after that, but we're going to go inside the fed's head with former fed vice chairman alan blinder. you're watching cnbc. we're first in business worldwide on a historic day. surprise!!!!! we heard you got a job as a developer! its off

what some of the best in the business, there's the individuals you'll be able to watch including leon cooperman right on china. >> you're worried about over capacity. >> so big. >> it is. >> scares the hell out of me. look what happened with over capacity because they didn't fill it, commodities went down. if you look at the chinese imports, they dropped to nothing. >> i mean, it's part of this, though -- >> drops precipitously. >> that was the bubble building we departmeidn't realize? >> excess of 12 to 15 million cars. >> china has slowed. they had growth of 16% years ago, and now 5% this year. >> said they were making up the numbers, which is why the slow down looks drastic. >> there's that going down in the numbers, but the slow down happened. i think that was august and september. we've seen that. going forward, i think there's stabilization. >> i hope you're right. that's all i'm saying. >> coming back to continue the conversation with jack and talk about how he's changing the online education system. plus, a warning from bill ackman about his performance in 2015, and later, security taki