Washington (AFP) – The US economy will slow this year as intended and is expected to avoid a downturn, but the Federal Reserve will have to raise borrowing rates quickly, a top central bank official said Tuesday. “Recession is not my base case right now. I think the economy is strong,” New York Fed President John Williams said on CNBC. But he said policymakers need to hike rates “expeditiously” to tamp down inflationary pressures and get the key policy interest rate to 3.0-3.5 percent by later this year. With American families struggling in the face of soaring gas and food prices, the Fed has …