Analysts at BNP Paribas explained that for many months the prospect of the start of the normalization of US monetary policy has given rise to considerable concerns at the heart of which are three questions: what is the risk of a policy error? Key Quotes: "What is the risk of a policy surprise? What is the risk of an endogenous disruptive market reaction to a policy stance? The challenge for the Federal Reserve is huge if only because of the asymmetry in case of a policy mistake and the possibility of big reallocations of investment portfolios and global spillovers that could backfire on the US economy." For more information, read our latest forex news.