Federal Reserve Chair Janet Yellen is right to be optimistic about economic growth, JPMorgan Fund global market strategist Gabriela Santos told CNBC on Wednesday.
"This is the most optimistic I've heard her on growth, on the labor market, as well as inflation – willing to look through some of that recent weakness," Santos said in an interview with "Closing Bell."
"I do think it is justified," she added, noting that the Fed may have been overly cautious in the past.
"They're now maybe feeling a little bit more comfortable that the economy's actually much more resilient than they even realized over the past few years."
Therefore, she believes things are on track for the continuation of three rate hikes a year and balance sheet normalization, which she thinks may even begin in September.
In addition to hiking rates by a quarter point, the Fed said it will begin the process this year of unwinding its $4.5 trillion balance sheet, or portfolio of bonds that includes Treasurys, mortgage-backed securities and government agency debt.