The Federal Open Market Committee (FOMC) judges that inflation of 2 percent over the longer run, as measured by the annual change in the price index for personal consumption expenditures, is most consistent with the Federal Reserve's mandate for maximum employment and price stability.
https://www.federalreserve.gov/faqs/economy_14400.htm#:~:text=The%20Federal%20Open%20Market%20Committee,maximum%20employment%20and%20price%20stability.