European Central Bank board member Frank Elderson just dropped some reality checks about what we're seeing in the markets right now. His take? There's still a massive amount of volatility swirling around, and uncertainty isn't going anywhere anytime soon.

This kind of straight talk from ECB officials usually signals they're keeping a close watch on market conditions. When someone at Elderson's level points out ongoing turbulence, it's worth paying attention to—especially if you're positioned in assets sensitive to central bank policy shifts.

The interesting part here is the emphasis on "still." Markets have been choppy for a while now, and it sounds like the folks at the ECB aren't seeing signs of that calming down yet. For traders and investors, this means staying nimble and not getting too comfortable with any single scenario.

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