Americans don’t have faith in Biden fixing inflation.

(Washington, DC) — Americans expect income growth to slow and inflation to stay high. That’s according to the Federal Reserve’s latest survey of consumer expectations. The survey found Americans believe inflation over the next year will hold steady at five-percent. Expected level of inflation three years from now stood at two-point-seven-percent, just over the Fed’s two-percent goal. The survey also found respondents in January expect future household earnings growth at three-point-three-percent, a drop from the expected four-point-six-percent rise the month prior. The Fed said this was the largest one-month drop ever.