2% is the bottom line; if it exceeds, they'll raise interest rates. This script is familiar.

BlockBeats News, May 21: Federal Reserve meeting minutes: Participants generally believe that ongoing high inflation and uncertainties regarding the Middle East situation may require maintaining the current policy stance longer than expected. Many policymakers are more inclined to remove dovish language from the policy statement. Most participants indicated that if inflation remains above 2%, some policy tightening measures may be necessary. Only "a few" Federal Reserve officials think that rate cuts are appropriate in the future.