Yes it's a weed: Artemisia vulgaris

One of the common names is ragweed.

There was some of the yellow blooming ragweed in that area last year. That didn’t show up again. Better make sure this mugwort is not going to seed.

Yellow blooming is likely one of the many golden rods, Solidago.

I was under the impression that Ragweed was Ambrosia rather than Artemisia. This one would be Mugwort.