The Fed won't be able to bring inflation down to its target, and Americans will have to live with high prices for years, BlackRock says

• BlackRock strategists expect the Fed will stop its rate-hiking cycle without getting inflation to its 2% target.
• That means Americans will have to live with high prices for years to come, they said. 
• "We think the 'politics of inflation' narrative is on the cusp of changing."

BlackRock expects the Federal Reserve will have to halt policy tightening before reaching its 2% inflation target, and Americans will have to live with high prices for years to come. 

Strategists from the world's largest asset manager said inflation has sparked a cost-of-living crisis, and the Fed has responded with all-out approach to cool prices. But there has been little debate about how the Fed's policies will weigh on economic growth and the labor market.