Federal Reserve Bank of Boston President Eric Rosengren issued a stark warning to markets Monday, telling traders and investors they are seriously underestimating how many rate rises the U.S. central bank is likely to deliver over the next few years.

Les marchés sous estiment le nombre de hausses de taux que va faire la Banque Centrale au cours de ces prochaines années.

 

« I don’t think the financial markets have it right, » Mr. Rosengren said in a speech given in New Britain, Conn., at Central Connecticut State University.

Je ne pense pas que les marchés voient juste 

 

« While I believe that gradual federal-funds rate increases are absolutely appropriate, I do not see that the risks are so elevated, nor the outlook so pessimistic, as to justify the exceptionally shallow interest rate path currently reflected in financial futures markets, » he said.

Je pense que le gradualisme est approprié, mais je n’ai pas l’impression que les perspectives justifient un cheminement des taux aussi modéré (shallow)