Expect a more hawkish Yellen this time: Analysts

Investors should be prepared to see a more hawkish Janet Yellen than in the past, two analysts said Tuesday.

"I don't believe we can ultimately put Yellen in the dovish bucket. She's a very pragmatic chair, and she's been moving gradually to a centrist position for well over a year now," Jennifer Vail, CIO of U.S. Bank Wealth Management, told CNBC's "Squawk on the Street." "I think the markets might be expecting too dovish comments coming from the FOMC meeting this week."

The Federal Open Market Committee began its two-day meeting on Tuesday, with investors expecting the Fed to drop the word "patient" from its statement on Wednesday, thus paving the way for a midyear rate hike.

Drew Matus, UBS' deputy chief U.S. economist, in the same interview agreed with Vail. "In her past iterations, she has not been as dovish. People tend to forget Janet Yellen tends to adjust to the role she has, and the role she has now is the leadership role. I think we're going to see something we've never seen before out of her."

Vail also said the central bank would hike up its interest rates soon by 75 basis points in the best of cases. "Unlike the previous cycle, I think the Fed will be early to the initial rates hike, and then on a very slow path, as opposed to a normal Fed normalization process, which would be late to the game and quickly raising rates," Vail said.

Matus also said that, "once the Fed hikes, they're going to hike a couple of times in a row."

Nevertheless, Art Cashin, UBS' director of floor operations at the NYSE, said he is not so sure of which course the Fed will take.

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"If she takes the word ("patient") out, it doesn't compel her to raise rates, and she has a press conference immediately after, so she can calm the markets down if they're at all destabilized," Cashin told "Squawk on the Street" in an earlier interview on Tuesday.

"If they leave the phrase in, by their own definition, they are postponing any rate move for two months because they said it would be two months after the word 'patience' comes out."