Americans Brace for Persistent Inflation Above Fed Targets Into 2025

• Americans expect inflation to stay high - around 3% next year and 2.9% in 3 years • Projected 2025 inflation remains above Fed 2% target at 2.6%
• Consumers anticipate rising costs for necessities like food, gas, medical care • Survey influences Fed policymakers' response to inflation crisis • Americans more pessimistic about job market and personal finances