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Treasury yields remained high on Tuesday as investors awaited the Federal Reserve’s decision on interest rates.

CNBC’s Rick Santelli, reporting from the CME in Chicago, predicted that the Fed would raise rates by a quarter of a point, despite concerns that this could exacerbate existing problems in the banking system.

Santelli compared the situation to an old car that is running too fast and may break down soon, with the Fed looking to slow it down before it crashes.

He also noted that raising capital requirements for banks may not be effective in modifying their behavior.

Instead, Santelli suggested that exchanges like CME and CBOE protect themselves and their clients by raising margins during times of market volatility.





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