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Is it Fed or Wallstreet?

$E-mini NASDAQ 100 Futures(DEC4) (NQmain.US)$ Fed focusses on labor market to curb inflation. It makes sense because with higher pay, purchasing power is higher. what doesn't make sense are 1) didn't Jerome Powell aware of this a years ago with the interest cut, and taken any steps to prevent this? 2) cutting government spending might be another way? 3) solve supply chain issue as well? I'm no expert in economics, but just find the drama over labour market is overrated. we suffer as gamblers.
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