My Tarot cards agree with you. Putting off a hike will cause damage down the road, but no hike will be soothing in the short term. And as we all know, today's policymakers never look at the long-term.
So I get whacked either way:
Raise rates and gain a bit of interest income but 401k suffers, at least for a while.
Don't raise and maybe stocks do better but I get no additional savings interest.