[seirl]

Wrong. The Fed has a dual mandate, they have to keep inflation and unemployment stable. Recessions are bad for employment, it turns out.

[SilasX]

You could have a stock market crash while hitting full employment, for any number of reasons e.g. non-listed companies expand while listed contract; families scale down and take earners off the market; war mobilization that involves long-term high taxes; and probably all kinds of scenarios I'm not thinking of. "Stopping recessions" is not an automatic justification for propping up asset prices.

[onlyrealcuzzo]

So is the Fed's job to make sure everyone is employed? Unemployment is at an all time low. With a normal spike an unemployment from a normal recession, we would be at normal levels of unemployment.