It seems that the market is lining up nicely. After a more veiled suggestion from the IMF to the Fed last week, this week we have the World Bank Chief Economist putting it more bluntly: In the CNBC article World Bank Chief Economist Warns Fed to Delay Rate Rise, we hear that the Fed risks triggering “panic and turmoil” in emerging markets. Note that the IMF and World Bank take a more global view of the impact of the US Federal Reserve increasing its rates. Much of the US press is mostly focused on domestic only implications. I think the World Bank and IMF are right to be nervous of an increase by the Fed at this point. My most recent analysis suggests that the rate increase should be put of until January. Only a week or so to go now, and all will be revealed.