Forgotten Fed Mission - maintain reasonable level of employment

http://www.federalreserve.gov/BOARDDOCS/SPEECHES/2002/20021121/default.htm
the Bernanke Speech re deflation..not here has  many interesting technical points..recommend a look. It also displays how the fed is off mission regarding benefitting society...price stability is the primary concern it seems and all else is other - which includes maintaining a reasonable level of employment. Directing almost all bailout money to banks which have kept the money as excess reserves has done nothing for money supply and velocity of money. A clue is this quote, " Deflation per se occurs only when price declines are so widespread that broad-based indexes of prices, such as the consumer price index, register ongoing declines." You see here that reality for these economists is at least once removed from the actual economy where people need to work to spend money to increase "aggregate demand" and to live; but the talk, mathematical, methodological, theoretical never descends to the underlying reality of the economy where unprecedented numbers of workers are unemployed, underemployed, part-timed or just statistically forgotten. The reality for Bernank is price indices. If the thinking doesn't even touch the reality, these guys should not be in any position to "run" anything that affects reality; they are failing and will fail since they are functioning in an unrelated delusional-theory-world unrelated to the actuality that is transpiring. While they fiddle with their shit ideas and ignore their assigned mission which is far broader than price stability, America smolders slowly to the ground.  Perhaps the American economic engine will pull us out of this one; it will be in spite of the Fed and Bernanke and Obama and BP and it will be a shame that if it does pull out, an after effect will be falsely validating the actions of imbeciles which in any terms are amounting to crimes against the people.
      The reason employment at reasonable levels is important is that without employment at reasonable levels demand suffers most; there is little reason for employers to hire once this stage is reached -- this is worse than the housing price deflation which was really an asset/credit deflation which could have been fixed by marking the losses to market and closing all the banks or the divisions that made bad credit decisions instead of giving money to the very institutions that screwed up, at tax payer expense with no benefit ultimately for anyone-- including the bailed banks which too will fail in a deflated economy.
    All the tools the fed has are useless if they are not directed towards increasing employment...this is where the tools fall short since they are market manipulative tools and not tools to redistribute money. Arbitrarily low rates in the name of inflation control constrict all capitalist action which ultimately seeks yields. The Fed is now the liquidity trap and should be abandoned or taken under control of the government --a new government that has a clue.