Fed‘s Williams: ’soft landing would still see unemployment rate rise

div classBodysc17zpet90 cdBBJodivpELTVILLE AM RHEIN, Germany Reuters – The Federal Reserves efforts to tame inflation will at best still see declining economic growth and a small rise in the unemployment rate for a period, New York Fed President John Williams said on Tuesday. p

p“When I think of a soft landing, it‘s really a matter of, yes we could see growth below trend for a while and we definitely could see unemployment moving up somewhat but not in a huge way…I think that’s the challenge,” Williams said during a question and answer session following a speech to an economics conference organized by Germanys central bank in Eltville am Rhein, Germany.pdivdivdiv classBodysc17zpet90 cdBBJodiv

pWilliams added that he would not define a soft landing as an economy in which the unemployment rate stayed at its current level of 3.6, but one in which the labor market stayed broadly strong and healthy as inflation came down toward the central banks goal.p

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pp Reporting by Francesco Canepa writing by Lindsay Dunsmuir Editing by Andrew Heavensp

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