Why growth may be the Fed’s Achilles' heel on its path to higher rates

The Federal Reserve is all but guaranteed to raise interest rates in June, according to many investors and Wall Street economists. Beyond that, the central bank's options are limited by one critical factor, according to one market watcher. "While you have inflation and jobs numbers that are very Fed pleasing, you've got to watch out for that growth number which is expected to be somewhere" in the range of 3 percent, said Todd Colvin, senior vice president at Ambrosino Brothers, on CNBC's " Futures Now " this week.