Here's why the world's biggest hedge fund thinks raising rates could crush everything

Heidi Gutman / CNBC Billionaire investor Ray Dalio told a hedge fund conference on Tuesday that the Federal Reserve doesn't need to raise interest rates now. A note sent to Bridgewater Associates' investors on the same day further explains why the firm thinks the Fed should hold off. The note warns that raising rates during a deleveraging, or selling off of debt, could crush the economic recovery. "If it were us, we would not take the risk the Fed appears to be moving toward," the note said. ...