The Federal Reserve isn't likely to allow uncertainty surrounding the 2016 presidential election to delay its looming rate hike, according to one expert. 'The Fed does not want to be seen as political,' said Timothy High, a director & U.S. interest rates strategist at BNP Paribas, based in New York. 'If the data warrants it and they say they are data dependent, they should go.' High expects the Fed to hike rates in September and forecasts job growth of 215,000 positions in August, which would bring the three-month average of job creation to roughly 250,000 jobs, which is double what the Fed says a stable labor market needs. TheStreet's Scott Gamm reports from Wall Street.