The Fed is done raising rates because policymakers can't measure how much the bank crisis is tightening conditions, investment manager says

• The Federal Reserve is unlikely to raise rates from here on out, KKM CEO Jeff Kilburg said.
• That's because the Fed needs to see to what degree turmoil in the banking sector will hit lending.
• "They're going to take a pause. They're going to have to sit back and measure," he told CNBC.

As a credit crunch mounts in the banking world, the Federal Reserve is unlikely to raise rates from here on out, KKM Financial CEO Jeff Kilburg said Thursday. 

The Fed first needs to take a moment to see to what degree turmoil in the banking sector will hit lending, which is a natural form of tightening, he said.