Is a rise in interest rate a disaster for ASX?

There are too many people investing in the markets for short term gain.  If the interest rate rises, it is because the economy is booming.  The rise is to curb the exuberance.  Business was enhanced and had to be tempered.

It is interesting that some good fund managers are asking the Feds to just raise the interest rate instead of 'hinting' or showing reluctance when it should rise.  It will cause a bit of turmoil for a brief moment and then the short-term idiots will iron out themselves.

I am hoping for a rise in interest rate so that I can buy more good equities!