On March 16, 2022, Fed raised interest rates for first time since 2018. Since then, Fed has been raising interest rates continuously to fight inflation. With the increase in interest rates, the U.S. dollar value has been strengthened. Please respond to the following lists:

(1) Is this observation consistent with what discussed in class/textbook/reading materials?

(2) How does the appreciation of U.S. dollar against other currencies affect exporters, importers, and multinational corporations?

(3) Since there is uncertainty about the future Fed's decision on the interest rates, thus the value of the U.S. dollar, how could multinational corporations manage the exchange rate risk?