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Retiring NY Fed President Bill Dudley spoke today on the following subject:

The Outlook for the U.S. Economy in 2018 and Beyond

https://www.newyorkfed.org/newsevents/speeches/2018/dud18011...

The transcript at the link indicates that he is concerned about elevated financial asset prices and the possibility of a hard landing if the US economy starts to "overheat" so that the Fed must put on the brakes.

The speech is worth reading for insight into how the Fed is likely to react if it turns out that the chickens of 8 years of ultra-loose monetary policy come home to roost.
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