Steve Eisman, known as the “Big Short,” said investors should be concerned if the unfolding banking crisis prevents the Federal Reserve from raising interest rates next week. “50 basis points is not on the table. So they either do 25 basis points or they don’t do anything,” Eisman said Wednesday night on CNBC’s “Fast Money.” “If the Fed doesn’t raise rates, … it could go on for hours or weeks,” he said. “But the Fed isn’t going to raise rates because it’s scared. Well, if the Fed is scared, you should be too.” Market pricing is now pointing to a March 21-22 Fed meeting, according to CME Group data late Wednesday. rate hike by 25 basis points. The chances of further austerity have diminished in the face of the collapse of Silicon Valley Bank and Signature Bank and the spillover of banking turmoil into Europe. Eisman, senior portfolio manager at Neuberger Berman, said the central bank is in trouble because if it does raise rates next week, it could add more pressure to already tight financial conditions. “On the other hand, if the Fed raises rates, even in the face of that … it’s like, wait a minute, you’re kind of stuck,” the investor said. “Financial conditions have really tightened, but inflation is still there. It’s not clear whether those two moves are good or bad.” Known for shorting subprime mortgages before the 2008 financial crisis. This is documented in Michael Lewis’ book The Big Short: Inside the Doomsday Machine and its subsequent Oscar-winning film adaptation. Eisman later launched his own fund, Emrys Partners, which he closed in 2014. Swiss regulators announced on Wednesday that the country’s central bank will provide liquidity to Credit Suisse if necessary. Investors were concerned after Credit Suisse’s biggest investor, the Saudi National Bank, said it could not provide more funding. “I would put it mildly that Credit Suisse has been the problem child of investment banking for as long as I can remember,” Eisman said.