Williams also expects US to avoid recession this year

Unemployment will likely rise to 4% as growth slows due to tightening process, says NY Fed head

John Williams
John Williams
Shell Jiang

Monetary policy tightening efforts by the US Federal Reserve through a series of interest rate hikes is likely to cause a rise in unemployment but is unlikely to result in a US recession, according to John Williams, president of the Federal Reserve Bank of New York.

“A recession is not my base case right now. The economy is strong,” Williams said in an interview with CNBC. “I’m expecting growth to slow this year quite a bit relative to what we had last year, and actually slow to 1–1.5% GDP for

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