Back when the Federal Reserve first started raising interest rates, in early 2022, the value of the U.S. dollar shot up right alongside them. Dollars became more expensive due to high demand—everyone wanted to have them so that they could invest in dollar assets and take advantage of the rising rates. Now, with the Fed set to cut rates, the dollar is already slumping—down 5% since late June.

Ryan Monarch, assistant professor of economics, says imported products are going to go up a bit in price because of the weaker dollar. “Whether we’re talking about furniture from China, or we’re talking about bananas from Colombia, or whatever, dollar movements are going to make those things more expensive in the medium run,” he says.

Listen to the full interview or read more in the Marketplace article, “With the Fed set to cut interest rates, the dollar is losing a bit of its shine with foreign investors.”