Fed Reserve's 'maximum employment' is here; not everyone has benefited

Since adopting a new approach to U.S. monetary policy weighted towards ensuring a strong labor market, Federal Reserve officials have been reluctant to define key terms like "maximum employment," arguing they did not want to prejudge how many jobs the economy could produce but feel their way toward that end.

They are hesitant no longer.

In two detailed paragraphs in the minutes of their Dec. 14-15 policy meeting, U.S. central bank officials declared the process all but complete. 

Over the course of 344 words, they ticked off a range of reasons for why the job market is "very tight" already and poised for