Rosengren spoke to the FT on Sunday

Boston Fed President Eric Rosengren, who is a voter in 2016, noted excesses in commercial property ending and large syndicated loans in an interview with the Fed.

He said they were two areas that bear watching.

"It would be a reason to maybe think about raising rates a little more quickly than I otherwise would, given the same unemployment and inflation rate," he said.

Overall, however, the FT said his comments suggested his outlook is similar to the shallow interest-rate lift-off expectations in financial markets, rather than to the steeper path implied in Fed projections published in September.

Earlier this month, Rosengren appeared to support a Sept liftoff.

Once again, he's a dovish Fed member whose comments are focused on the pace of future rate hikes rather than liftoff. To me that makes it very likely the doves have already conceded a December hike and now focused on keeping the pace of hikes slow.