This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How a strengthening U.S. dollar negatively impacts U.S. exporters and benefits U.S. importers. - The direct relationship between a strong dollar and a U.S. trade deficit. - How a weakening U.S. dollar can help reduce a trade deficit by making exports cheaper and imports more expensive. - The concept of the balance of payments, including the current account and the difference between debits (money out) and credits (money in). - The connection between Federal Reserve monetary policy, interest rates, currency strength, and the balance of trade.