[opportune]

Typical targets for “full employment” are around 4%. 6-8% is not only unnecessary but contrary to the Fed’s other raison d’etre (besides combatting inflation) of full employment, which includes combatting higher unemployment than is necessary.

Increasing interest rates has systemic effects that take a while to propagate. We have already seen this reflected in CPI (which is also partially due to stabilizing after the supply shock of the war in Ukraine), and unemployment may get a bit worse than it is now, but the Fed absolutely will not want to increase unemployment into the ranges you mention unless absolutely necessary to combat inflation, because it’s contrary to their goals.