Inflation Squeezes Americans' Finances, Fed Plans Rate Relief but Timeline Uncertain

26% of Americans are withdrawing from savings or selling assets to afford basic spending due to high inflation
Over half of Americans worry "a great deal" about inflation according to a Gallup survey
High home prices and mortgage rates continue to limit affordability and crowd out homebuyers
The Fed plans to reverse rate hikes to ease inflation, but the timeline for rate cuts remains unclear
The Fed says rates may have peaked this cycle, but will stay higher for longer to ensure inflation continues falling