The second risk is that, even based on current growth expectations, investors may have gotten ahead of themselves in anticipating monetary-policy tightening. The Fed will raise interest rates when it senses that the economy is nearing full capacity and that inflation – wage inflation, in particular – is accelerating.
第二个风险是，即使基于当前增长预期，投资者预测货币政策收紧也可能操之过急了。美联储将在其认为经济已接近充分产能以及通货膨胀——特别是工资通货膨胀——开始加速时升息。