Fed Should Keep Rates at Zero Until Mid-2016 to Avoid ‘Dark Corners,' IMF Paper Says

``If the Fed raises rates too soon, this thinking goes, it could cause the economy to stumble again. And since rates would still be very low, the central bank would have a limited ability to cut borrowing costs to spur growth. In contrast, if the Fed waits too long to move and sparks too much inflation, it can simply raise interest rates to cool price increases. ''