Americans are bracing for high inflation to stick around over the next few years, according to a key Federal Reserve Bank of New York survey published Monday.The median expectation is that the inflation rate will be up 3.

The U.S. public’s outlook on the future path of inflation was mixed in May, according to a report on Monday from the Federal Reserve Bank of New York.

Consumers don’t appear to be quite as confident in the Federal Reserve’s ability to bring inflation down to the central bank’s 2% goal as the Fed is. In the Federal Bank of New York’s May 2024 Survey of Consumer Expectations,