Fed Chair Jerome Powell said defining maximum employment as a broad and inclusive goal recognizes that “a strong labor market delivers broad-reaching benefits and extends those benefits in particular to low- and moderate-income communities”.
“While monetary policy does not target any particular group of people, when we assess whether we are at maximum employment, we purposely look at a wide range of indicators, and we are attentive to disparities in the labor market, rather than just the headline numbers,” he added.
