The U.S. economy is going to pick up steam next year and that means the Federal Reserve could find itself behind the curve, Deutsche Bank chief economist Joe LaVorgna told CNBC on Thursday.
LaVorgna, who's been negative on the economy for a while, said he changed his mind with the election of Donald Trump. He believes the president-elect is going to give the economy a lot of fiscal stimulus.
"If we're running a 3 to 4 percent GDP, which I believe possible, the Fed's going to be in a really, really tough spot," the CNBC contributor said in an interview with "Power Lunch."
Critics have been warning that if the central bank doesn't move soon on raising rates, it could find itself trying to catch up with rising inflation.