The Federal Reserve is ignoring their mandate to keep employment high, as they have for years, because they are and have been focused on protecting the wealth of the obscenely wealthy. They have helped create the large transfer of wealth from the middle class to the 1%. Think of how many times the Fed has ran interest rates up to protect the wealthy, put average Americans out of jobs and reduce workers' ability to get higher wages. The Fed keeps the rich rich and the poor poor.

How the Federal Reserve Protects the Top One Percent https://prospect.org/economy/2023-01-19-inflation-federal-reserve-protects-one-percent/

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"Our central bank operates by and for the financial elite.

It’s hard to understand why the Federal Reserve kept interest rates very low for most of three decades and then shifted to keeping them unnecessarily high—until you appreciate one thing. A paramount goal of the Fed is helping owners of capital conserve and increase their concentrated wealth. Then the apparent inconsistency makes perfect sense.

Chair Jerome Powell and the Fed are willing to impose significant costs on workers and families in order to reduce inflation. The Fed’s policy of raising interest rates—by more than four percentage points in the last year—can work only if the higher interest rates end up throwing millions of workers out of their jobs.

This focus on inflation, by promoting high unemployment, contradicts the dual mandate given to the Fed by Congress. Specifically, the Federal Reserve Act mandates that the central bank conduct monetary policy “so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates.” Yet the Fed has been laser-focused on keeping inflation extremely low no matter the harm it may cause to the labor market or the economy.

Why does the Federal Reserve treat its high-employment mandate so cavalierly when inflation is above 2 percent? The answer stems from the fact that since its founding, Fed officials have seen the world through “finance colored” glasses. Financiers do not like high inflation.
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Another reason, perhaps a more political and self-interested reason, is that bankers and other financiers sit on the boards of directors of the 12 regional Federal Reserve Banks and have a role in making monetary-policy decisions. Banks and other financial institutions provide “revolving door” jobs for outgoing Federal Reserve Board governors and staff.
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As the economist Michal Kalecki noted in the 1940s, capitalists are wary of sustained high employment because it tends to empower workers by reducing their fear of the bosses’ biggest weapon: exile to the reserve army of the unemployed. So big corporate CEOs from most industries, like others who make up the top one percent (or higher) of wealth owners, are aligned in prioritizing inflation-fighting over maintaining high levels of employment.
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In short, as a first approximation, the current Fed policy of rapidly raising interest rates to fight inflation by throwing people out of work serves as a wealth protection device for the top one percent.
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Still, neither side of this debate is particularly concerned about the impacts of these policies on the employment prospects of workers and the poor.

The Fed’s goal of protecting the wealth of the one percent can help us understand the current Fed anti-inflation policy. But the same logic explains the Fed’s policy in eras of low inflation, as in the 1990s and 2000s when the Fed was very proactive in halting stock market declines by keeping interest rates low. When inflation and worker bargaining power are low, the tension described earlier disappears as low-interest rates help to pump up asset prices, such as the stock market, benefiting the top one percent and even the top 10 percent.
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We can break out of the persistent Fed loyalty to society’s wealthiest only by continuing to push for structural reform and for Federal Reserve appointees who broadly promote the public interest and resist the undue influence of the one percent."