Member Federal Reserve forecasts U.S. unemployment rate of up to 5% in 2023

The president of the New York Federal Reserve, John Williams, said today that the unemployment rate in the United States in 2023 could rise from the current 3.7% to 5% as a result of interest rate hikes enacted by the Fed to reduce inflation. "We are already seeing some of the effects of tighter monetary policy," Williams said in a virtual speech to the Economic Club of…