What he said was "there will very likely be some softening of labor market conditions", which was interpreted to mean increased unemployment. source with video

What he said was "there will very likely be some softening of labor market conditions", which was interpreted to mean increased unemployment. source with video: https://twitter.com/CNBC/status/1563172126945067009 https://twitter.com/CNBC/status/1563172126945067009