Rising Fed rates have done little about inflation or increasing unemployment. If the goal is to increase unemployment, raising the federal minimum wage would bring more people into the workforce. When people stop looking for work, the unemployment rate calculation goes down because they stop being counted. When people re-enter the workforce, unemployment rises. Raising the minimum wage would encourage people to look for jobs that would pay a higher wage. This would allow businesses to grow and make more money. And that's what capitalism is all about, I think.
The best part is if you think this idea is B.S. it's still better than the Fed trying to cause unemployment and a recession to lower inflation. Plus, people get paid more.