U.S. inflation is once again in the spotlight after May’s CPI is projected to rise by 0.2% month-on-month, keeping the annual rate around 2.4% and core CPI at approximately 2.9%. Mounting import tariff pressures are expected to keep inflation above the Federal Reserve’s 2% target, complicating the central bank’s monetary policy options. Against this backdrop, the Fed faces a challenging balancing act between maintaining price stability and supporting economic growth, with markets growing increasingly cautious about a possible delay in interest rate cuts.