I would not want to be Janet Yellen

It seems everyone is screaming "No Increase!"  But there is a political element to why the Fed must increase.  They cannot allow a recession to occur early in a new Presidential term.  Ideally, the economy is in a recession as a new President enters office.  Then new economic plans will follow.  If they allow the boom to continue, they run the risk of a recession occurring early in a new Presidential term.  The pressure on the Fed to "do something" will be intense and they will have to act - being fully exposed as serving the interest of the President.  The Fed wants to avoid this scenario at all costs.

Here is Larry Summers again stating the the Fed should not increase rates.  I suspect he is angling for a new role in the next administration.  He continues to say the Fed should not raise rates.  After a recession hits, he can then say "I told you so. Now put me in charge of the Fed.":

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