Analysis: Fed plan for gradual rate hikes is starting to look complacent

A runner passes the Marriner S. Eccles Federal Reserve building in Washington, D.C., U.S., on Friday, Nov. 18, 2016. Federal Reserve Chair Janet Yellen told lawmakers on Thursday that she intends to stay in the job until her term expires in January 2018 while extolling the virtues of the Fed's independence from political interference. / BLOOMBERG / ANDREW HARRER
A runner passes the Marriner S. Eccles Federal Reserve building in Washington, D.C., U.S., on Friday, Nov. 18, 2016. Federal Reserve Chair Janet Yellen told lawmakers on Thursday that she intends to stay in the job until her term expires in January 2018 while extolling the virtues of the Fed's independence from political interference. / BLOOMBERG / ANDREW HARRER
NEW YORK - Investors and the Federal Reserve may have grown too comfortable with gradualism - raising interest rates at a pace that is not too fast, not too slow, but just right. The outlook could abruptly shift if global growth gains momentum and U.S. unemployment sinks much lower. Markets look complacent. Prices in interest-rate…

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