If the Federal Reserve doesn't begin to normalize interest rates, it risks getting caught behind, two experts warned Monday.
That's because if inflation gets a little bit on the upper end of the range, the central bank will be "forced to tighten more quickly" than they'd like, Gabriela Santos, global market strategist at JPMorgan Funds, said in an interview with CNBC's "Power Lunch."
And that will not be good news for the market, Paul Hickey, co-founder of Bespoke Investment Group, added.
"When you have a Fed rate hiking cycle where the Fed's behind the ball, the market runs into trouble," he told "Power Lunch." "When you have these slow, gradual periods where they're hiking rates, the market tends to weather it better."