Here are the last four quarters of GDP.

3rd Quarter 2015: 2.0%

4th Quarter 2015: 0.9%

1st Quarter 2016: 0.8%

2nd Quarter 2016: 1.1%

It's highly unlikely the Fed believes 1% is the new normal for robust growth. So why is it so desperate to hike rates?

No Confidence

Despite wanting the hike, a Yellen slide from the Jackson Hole symposium shows the Fed has little confidence that it will hike.