ELILLE AM RHEIN (Reuters) – Despite Federal Reserve efforts to curb inflation, there will be a slight rise in unemployment for a time and declining economic growth, New York Fed President John Williams stated on Tuesday.

Williams stated, “When I think about a soft land, it’s really just a matter that yes, we could see growth below average for a while, and we certainly could see unemployment moving upwards somewhat, but not in an enormous way…I think this is the challenge,” Williams answered questions during a session at an economics conference held by Germany’s Central Bank in Eltville am Rhein.

Williams stated that Williams would not consider a soft landing an economy where unemployment remains at the current 3.6% level, but rather one in the which the labor force is strong and healthy as inflation falls toward the central bank’s target.