Will capitalist economies operate at full employment in the absence of routine intervention? Certainly not.

After adjusting for inflation, the average income of the top 5% of households grew by 38% from 1989 to 2013. …By comparison, the average real income of the other 95% of households grew less than 10%.

The lower half of households by wealth held just 3% of wealth in 1989 and only 1% in 2013.

Individuals out of work for an extended period can become less employable as they lose the specific skills acquired in their previous jobs and also lose the habits needed to hold down any job.

The past few decades of widening inequality can be summed up as significant income and wealth gains for those at the very top and stagnant living standards for the majority.

The average net worth of the lower half of the distribution, representing 62 million households, was $11,000 in 2013. About one-fourth of these families reported zero wealth or negative net worth, and a significant fraction of those said they were "underwater" on their home mortgages, owing more than the value of the home. This $11,000 average is 50 percent lower than the average wealth of the lower half of families in 1989, adjusted for inflation.

I'm just opposed to a pure inflation-only mandate in which the only thing a central bank cares about is inflation and not employment.