The International Monetary Fund (IMF) has advised the United States to raise taxes and delay cutting policy rates until late 2024. The IMF's recommendations, outlined in its 'Article IV' staff report, suggest progressively raising income tax rates, including for households earning less than $400,000 annually. Additionally, the IMF proposes scaling back deductions for mortgage interest and state and local taxes, and increasing gasoline and diesel taxes. The IMF emphasizes that the Federal Reserve should wait for clearer evidence that inflation is sustainably returning to its 2% target before reducing rates. The recommendations aim to address the growing federal debt, as stated in the report released on Thursday.