The US Federal Reserve's interest rate changes affect the eurozone economy through exchange rates, commodity prices, and trade balance. When the US rate goes up, the euro drops, commodity prices fall, and household spending rises. This boosts the eurozone economy, but the European Central Bank may counteract this by raising interest rates to control inflation. The impact of US rate changes on commodity prices is bigger than previously thought. The eurozone's economic growth is influenced by these factors, showing the importance of commodity prices and exchange rates in European monetary policy.