Billionaire investor David Tepper knows a thing or two about investing, and recently sat down with Forbes to discuss his outlook for the U.S. market and the Federal Reserve.

According to Tepper, the Federal Reserve will be "very, very patient" in raising interest rates given their view that inflation can be contained and it is "much harder" to create inflation.

Related Link: El-Erian On Interest Rate Hikes; One Is "Certain," Two Is A "Maybe"

Tepper added that the Fed, rightfully so, recognizes that the world is an "interconnected place" and that if it were to implement a "very hard tightening" policy it would have caused a "problem for the world."

"[The Fed] are right on the policy more or less," he said.

Tepper also briefly commented on his outlook on the U.S. equity market and said that stocks are "going to grind higher."

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