US monetary policy affects different types of commodity prices in various ways. When the US tightens its monetary policy, overall commodity prices initially rise due to factors like inflation expectations and production costs. However, after six quarters, the effect fades as interest rates increase and liquidity decreases. Non-fuel commodity prices initially go up but later drop, food prices rise consistently, beverage prices fall, and metal and energy prices decrease persistently. It's important for policymakers to understand how different sectors are impacted by inflation before making monetary policy decisions.