This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and CFP designation. He is passionate about opening up information to help everyone prepare better for financial certification exams. This episode covers content for the SIE Exam.

In this episode you will learn:

- The definition of fiscal policy as the government's tool for managing the economy through taxation and spending.

- The fundamental difference between fiscal policy (controlled by Congress and the President) and monetary policy (controlled by the Federal Reserve).

- How expansionary fiscal policy, using tax cuts and increased government spending, is used to combat a recession.

- How contractionary fiscal policy, using tax increases and decreased government spending, is used to fight inflation.

- A simple 'Gas vs. Brake' analogy to remember when each type of policy is appropriate for different economic conditions.

For more resources visit https://open-exam-prep.com/ and connect on LinkedIn at https://linkedin.com/in/chenran818