The Federal Reserve has raised interest rates for the third time this year which USDA’s Chief Economist says could cause more trouble for farmers.
Rob Johansson says when interest rates have increased in the past, the dollar becomes stronger. “And that has the effect of making it more difficult for our producers to sell our products overseas, it makes them a little less competitive on the global scene.”
Johansson says higher interest rates can depreciate land and capital equipment values.
Continue reading Interest rates on the rise at Brownfield Ag News.
