If the Federal Reserve raised interest rates fewer loans would be sought out, thereby, decreasing the amount of money flowing into the economy. Although raising interest rates is an important tool to control inflation, the current economy is not yet stable enough to warrant a slow down and inflation risk is still low.
As much as we speak of the study of economics as a "science", at the end of the day it's helpful to remember that in fact there is a great deal of intuition and subjective decision making that goes into it, especially when it comes to making practical, concrete decisions like whether or not to raise interest rates. I agree with the majority opinion among investors and traders, that to raise interest rates now would be premature, and that the economy would benefit from a prolonged period with lower rates.
Yes they should wait! They take so much money from us, I don't even think they should be raising the interest rates at all. It makes things pretty tough for the people who owe them money and are poor to begin with. Like college students. Don't we pay enough already?!
By continuing to hold of on raising interest rates, the Federal Reserve will put more confidence in the American dollar amongst its people and hopefully help drive consumer spending through the holidays. If they wait until the next quarter, I believe it would make things easier on Americans as we head into the frigid winter months.