Third Time's A Charm?

There is a very serious debate underway at the Fed these days concerning how to conduct monetary policy. You see, the Fed set an inflation target a few years back of 2% and despite their heroic efforts, they just can't seem to hit it. It's almost like they don't know what they are doing, inflation seemingly oblivious to their ministrations. So the latest debate is whether the inflation targeting regime should be replaced with price level targeting. If price level targeting sounds a lot like inflation targeting that's because it is. But it is inflation targeting with a memory. It says that if your long term goal is 2% and you have a year that comes in at 1%, you should aim for 3% the following year to get back on the preferred track. So, obvious question I suppose but apparently it needs to be asked: how is the Fed going to hit 3% when it can't hit 2%?