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Rising inflation pressures cloud the path of US monetary policy

May 24, 2026

London [UK], May 24: At the beginning of the year, the US economy was on a path of steady growth and moderating inflation. Price pressures continued to ease from their post-Covid pandemic peak, with consumer inflation declining from around 9 percent in mid-2022, steadily converging back to the 2 percent target of the Federal Reserve. However, this trajectory was abruptly disrupted by the escalation of the conflict between Israel and the US with Iran in late February.