Employment and the Fed's Dual Mandate

The Fed's dual mandate focuses on encouraging full employment and price stability. The Fed has chosen not to adopt an unemployment rate target. The Fed argues that labor market conditions are influenced by many key drivers making setting a target for the unemployment rate not advisable. In any case, the Fed has warned many times that it is data-dependent, meaning that when the patterns in labor market and inflation data shift, the Fed may well pivot to a different policy path.

US Labor Markets

US Real GDP