This is not because we do not seek maximum employment or because we want to disregard or downplay its importance. Rather, it reflects the differences between the economic determinants of the inflation and employment parts of our mandate. Over the longer run, the economy’s inflation rate is primarily determined by monetary policy.
So, the FOMC is able to set a longer-run numerical goal for inflation and should be held accountable for achieving that goal. On the other hand, maximum employment is largely determined by factors that are beyond the direct control of monetary policy.