You don't want to fuck around with inflation because at a certain point it becomes a self-fulfilling prophecy (ie. merchants raise prices pre-emptively just because they internalize inflation at a high steady state).

The Fed has two mandates, not three:

https://www.stlouisfed.org/in-plain-english/the-fed-and-the-...

"... maximum employment and price stability"

maximum employment is a pandemic period objective. they aren't intending to crush the labor market. the fed has largely behind the curve in addressing inflation.

the mandate is maximum employment and 0% inflation.

So strange. It’s almost as if they’ve picked a side in the conflict between supporting labor or capital.

So the low interest rates for the past decade that reduced unemployment must mean that they love labor right?

HN is capital not labor.

Indeed. We are in fact conversing on a website that is a marketing forum for a multi-billion dollar private equity firm.