dracut-initqueue[197]: Warning: Could not boot, ... /dev/root does not exist

[John Reiser]

> dracut-initqueue[196]:  Warning:  could not boot
> dracut-initqueue[196]:  Warning:  /dev/disk/by-label/Fedora-18-BetaTC3-x86_64-Live-D does not exist
> dracut-initqueue[196]:  Warning:  /dev/mapper/live-rw does not exist
> 
> Entering emergency mode.  Exit the shell to continue
> Type "journalctl" to view sytem logs.
> 
> dracut:/#_

As diagnosis, what is the label that dracut sees at this point?
Try:

  cd /dev/disk/by-label
  ls

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