There is no way, let me say that again, NO WAY that the Federal Reserve is going to raise rates mid-2015.
In fact I still do not believe it will happen at all this year.
Have a look at the chart below.
At this time we are in a global currency war, and in order for the US to compete unfortunately the Fed is going to have to act and quell the dollars strength at one point.
The strong dollars toll on multinational companies is already being seen in their revenue reports, and this will not only hurt these companies bottom lines, but it will also kill jobs.
The strong dollar continues to put pressure on commodities, (which are priced in US dollars), and this is going to increase strain on huge swaths of the global economy.
Again, the Federal Reserve will have to act.
For now I expect that the dollar strength will continue, but you can rest assured that there will be NO rate hike anytime soon.