The Fed's Mandate Is to Cool Down the Labor Market

The function of the central bank today isn't to provide money to the economy, it's to provide money for the banks to make money financially. What's not invested is paid out as interest and financial charges to the financial sector. You don't have industrial capital investment in means of production or factories. The mandate of the Fed is to make sure that there's enough unemployment that wages cannot rise so that all growth in economic surplus will accrue to the 1% to 10%.