Boockvar: 'Fed's Game of Zero Interest Rates Has No Touch With Reality'

After Friday's strong jobs report, many economists reiterated their view that the Federal Reserve will raise interest rates around mid-year.

For Peter Boockvar, chief market analyst at The Lindsey Group, that would be about time. "The Fed is fast running out of excuses," he wrote in a commentary obtained by CNBC. "The Fed's game of rationalizing zero interest rates has no touch with reality."

The Fed has kept its federal funds rate target at a record low of zero to 0.25 percent since December 2008.

As for the employment data, non-farm payrolls rose 257,000 last month, and over the past three months they registered their biggest increase in 17 years.

When it comes to the economy as a whole, it grew 2.4 percent in 2014, the fastest pace since 2010, and many analysts predict it will expand around 3 percent this year.

Some hawks within the Fed aren't too pleased with its policy either. Charles Plosser, the president of the Philadelphia Federal Reserve, who retires March 1, is one of them.

He dissented from some of the Fed's policy statements last year, preferring a tighter stance. He was none too enamored with the central bank's decision in December to describe its stance on raising interest rates as "patient."

"It could mean different things to different people," Plosser told The Wall Street Journal.

"What that means will depend on economic conditions. We would save ourselves a lot of headaches if we didn’t use [words like 'patient']. I’ve been only marginally successful in reducing our efforts to do that."

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