Fed's Williams sees growth lagging below 1% in 2022

• Williams did not address whether he favors a 75 basis-point rate hike

• He forecasted jobless rate to increase to above 4% sometime in 2023

US economic growth could fall below 1% this year and remain slow through the next year as the central bank acts “resolutely” to curb inflation, New York Federal Reserve President John Williams said on Friday.

“Inflation is sky-high, and it is the number one danger to the overall health and stability of a well-functioning economy,” Williams said in prepared remarks for delivery at a campus of the University of Puerto Rico.