Steve's barking; Why does the Fed have to Raise I t's interest rate?

I keep hearing that the Federal Reserve Board has to raise it's interest rate..
My question is why?
Is it because the Fed governors show that they are doing something?
There are those who claim that raising the rates help stave off inflation, but depending on the situation raising interest rates is inflationary in itself.( Inflating the cost of money).

Speaking of the Fed's I believe I heard some person say that when the Fed sells release the bonds to the general market a major problem would exist in the bond market. My question is we're is it written that the Federal Reserve board has to sell back bonds. Heck if it keeps the bonds in real terms it reduces the federal deficit.
( The Feds at the end of the day would give the money to the treasury. I understand that a very difficult thing to understand).

Steve's Barking; Ya pays Ya money, Ya take Ya chances.

I was brought up when you invest in something like foreign government debt, you do your own personal do diligence. If the bonds don't pay off, your out some money. There was no guaranty that you would get full return on your investment.
So what's the story that a hedge fund holds an Argentine training ship hostage.
Porto Rico bond holders expect to be paid in full.
Same is true with holders of Greek notes
Now most of these bond holders don't want government interference in what they do, but want their governments to some how protect their investments in foreign bonds.
My feeling is ya invest your money, ya take your chances.

Bullying by bond holders of foreign government debt is reprehensible.