In the interests of posting up some alternative views - chap calling for 5 rate hikes this year.

I can't see it myself, but he makes good points nonetheless:

  • U.S. employment data ... has been eclipsed in importance at this stage of the business cycle by every available measure of inflation pressures
  • inflation data. If it continues to accelerate, as was just revealed for January by the consumer and producer price reports, it will become clearer that rates are too low and monetary policy is overly accommodative.
  • If the Fed moves slowly in 2018, it will have to play catch-up at some point

Worth a read, ungated at Bloomberg