The Wall Street Journal provides a case in point with IMF: U.S. Economy at Risk of Stalling Next Year if Fed Raises Rates Prematurely.

"The Federal Reserve risks stalling the U.S. economy by raising interest rates too early, the International Monetary Fund warned Tuesday as it detailed its call for the central bank to delay a move until 2016."

The idea that a single rate hike or two would sink the economy now but not in 2016 is of course ridiculous.

The IMF's primary concern is the rising US dollar.