A continued increase in interest rates at this hysterical fashion will kill any recovery. Higher borrowing costs for the US government, state government, local government, businesses (big and small), higher mortgage rates, higher credit card rates (already averaging over 15%). With U6 at 14.3 % -higher than any year between January 1, 1994 ** and January 13, 2009- , the Fed will continue to buy bonds for the foreseeable future.
*the broadest measure of unemployment and underemployment
** furthest back I could find