The feds policies should not be contingent on employment at all. This was something cooked up during the Carter years. The fed needs to be concerned about dollar stability period.
If you look at the Federal Reserve Act of 1913 that created the Federal Reserve it says.
"The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates."