Persistent Inflation Weighs on Fed Officials CONCLUDED Fed Meeting Today: Powell Is Watching Iran and Will Stay Until Successor Is Confirmed Last Updated: Powell acknowledged during Wednesday's press conference that the fact that inflation has remained above the Fed's 2% target is weighing heavily on officials. Even though oil shocks are something that's typically temporary, the series of shocks that have helped keep inflation above target in recent years has not relented. That could lead to consumer inflat ...