The way for the Fed to support a return to a strong economy is by maintaining monetary accommodation, which requires low interest rates for a time.
If, in contrast, the Fed were to  BIS central bankers’ speeches  5  raise rates now, before the economic recovery is fully entrenched, house prices might resume declines, the values of businesses large and small would drop, and, critically, unemployment would likely start to rise again. Such outcomes would ultimately not be good for savers or anyone else.