They're not saying it's good as much as it's acceptable given the inflationary pressures attributable to cheap money and the labor shortage. Right now employmen

They're not saying it's good as much as it's acceptable given the inflationary pressures attributable to cheap money and the labor shortage. Right now employment is bumping up against a hard boundary and it's creating stress on businesses. Higher rates will slow investment, reduce hiring and reduce prices. The Fed is aiming for a middle ground where they can slow inflation knowing that will unemployment will tick up, but ideally just a smidge. We're probably pushing over the edge of "full employment" right now and backing off a little bit will be a net win for the country with a small amount of losers. https://en.wikipedia.org/wiki/Full_employment https://en.wikipedia.org/wiki/Full_employment