Change in U.S.policy can lead to changes in inflationary expectations,interest rates,and exchange rates simultaneously as they all adjust to new equilibrium levels.

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Changes in U.S. policy can have a significant impact on the economy, which can lead to changes in inflationary expectations, interest rates, and exchange rates. When U.S. policymakers make changes to fiscal or monetary policy, it can affect the supply and demand for money, which can impact interest rates. Higher interest rates, in turn, can impact inflation expectations and exchange rates. Therefore, changes in U.S. policy can lead to adjustments in multiple economic variables simultaneously.