It is interesting how many call the Fed independent. Few realize how it was set up and how, over the years, it becomes just an arm of the government. People get upset about the prospect of the Fed buying bonds of weak companies. Well that is what it was designed to do...to be the lender of last resort when things were dire.

What people really should get upset about is the fact that the Fed has to buy all the government debt. If the Fed did have to do that, things would be much different.

As for their peak employment, good luck with that one considering the pace of how automation is going. The manipulated numbers might make it so but we know that tens of millions of jobs will be wiped out over this decade. Technological acceleration basically guarantees it.