Russell Doncouse

Can someone explain the obsession the Fed has with the labor market when we've been warned for years the changes in our demographics would lead to a high employment rate? There are simply more people retiring than persons available to fill those seats. I've seen evaluations that indicate the job vacancies will double in the next few years. Seems maniacal to base the success of our economy, in part, on the need for employed peoples to have the same purchase power of unemployed persons before we are able to control inflation.

Thanks!