WASHINGTON: US unemployment has stayed low despite rising interest rates and easing inflation, representing a “hopeful sign” that consumer prices can come down without a significant downturn, a Federal Reserve official said Tuesday.The central bank has raised interest rates multiple times last year to rein in decades-high inflation, working to cool the world’s biggest economy while trying not to tip it into recession.Slowing the economy typically means that job creation also decelerates, as borrowing becomes more expensive.But Fed governor Michelle Bowman said Tuesday that “unemployment has remained low as we have tightened monetary policy and made progress in lowering inflation,“ in a prepa
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