Poll: If you were the Fed Chair, what would you do?

Janet Yellen
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It's not easy being Fed Chair Janet Yellen these days.

Between September 20 and 21, Yellen and members of the Federal Open Market Committee will have to decide if September is the right time to raise interest rates.

If they raise rates too early, and if the U.S. economy cannot sustain a higher cost of borrowing in a world where other central banks are on an easing track, it could push the country off the steady recovery path it had embarked on since the global financial crisis.

On the other hand, by keeping rates steady in September, the Fed could find itself cornered at its next meeting in December - where it would either have to raise rates or backtrack completely from its commitment to normalize rates. FOMC members had already slashed their predictions to two rate hikes for the remainder of the year, including the upcoming meeting.

But market expectations for a Wednesday hike have fallen sharply after a series of soft data appeared to suggest the economy remained somewhat fragile.

For this week's Trader Poll, tell us what you would do if you were in Yellen's shoes.