Why the Federal Reserve Didn't Bring Inflation Down

The Federal Reserve was given a new mandate in the late 70s. Up until then, the Fed's mandate was only to keep inflation low. But with the strength of labor and the Democratic Party being in power, they passed legislation which added a new mandate for the Federal Reserve. Of course, no sooner had they passed this legislation than the Federal Reserve acted in precisely the opposite way. Rather than worrying about inflation levels, the Federal Reserve focused only on bringing down inflation.