It sure seems like, and it is heavily implied (because they’ll never just come out and state this) here, these charlatans have finally acknowledged how they’ve been misleading themselves, and you, for more than a decade about the real state of the labor market therefore the overall economy.

As always, the FED flunks. Dumbest guys in the room. The caption on the above chart makes it clear that they've blinded themselves in their propaganda re-definitions of inflation and unemployment. This is why they can do nothing but fail.