Fed’s Jerome Powell: “The Economy Seems to be Healthy” despite negative sentiment

Rural towns across the U.S. have seen sluggish economies over the last year, with plenty of ups and downs.

Fed Chair Jerome Powell acknowledged a decline in sentiment but assures everyone the economy is on the right track.

“The economy seems to be healthy. We understand that sentiment is quite negative at this time, and that probably has to do with turmoil at the beginning of an Administration that’s making big changes in areas of policy. That’s probably part of it. I do think the underlying unhappiness people have about the economy, though, is more of the price level.”

This week, Powell announced interest rates would be holding steady for now. Inflation reports earlier this month showed promising news. Both measures of inflation came in below analyst expectations, and despite those signs, inputs are expected to remain elevated this year.

Related Stories
Domestic demand policy may play a larger role if export competition continues to limit price recovery.
Tennessee corn and soy farmer Josh Ogle joins us to discuss rapid planting progress in the state, improving moisture conditions, and early crop development challenges in the MidSouth region.
Beef is leading the decline as slaughter drops and supplies tighten.
Paul Neiffer joined us to explain how USDA’s base acre expansion will be calculated, outline key deadlines for farmers, and discuss how the changes tie into farm program decisions and the broader Farm Bill outlook.
Chad Fiechter joins us to discuss Purdue’s precision ag study, challenges in capturing value from technology, and what farmers should consider when investing in and adopting these tools.
Farm Bureau Economist Dr. Faith Parum discusses USDA’s efforts to expand fertilizer capacity, signals for farm profitability, and AFBF’s Farm Bill expectations.

LATEST STORIES BY THIS AUTHOR:

Purdue economist Dr. Joana Colussi discussed the U.S. and Brazil’s reliance on imported fertilizers and their impact on global food security amid rising input costs.
RFA President and CEO Geoff Cooper joined us to discuss the proposed E15 amendment in the Farm Bill, industry reaction to the legislation, and the outlook for year-round E15 sales.
USDA Secretary Brooke Rollins plans a farm visit in Missouri, hinting at a possible fertilizer relief announcement on RFD-TV earlier this week. USDA also restructures its research infrastructure and launches new food-safety centers.
As part of this effort, USDA will establish a new National Food Safety Center (NFSC) in Urbandale, Iowa, which will serve as the primary hub for FSIS administrative, technical, and support operations.
Kansas row crop farmer Brad Keeler joins us to discuss drought conditions, planting decisions, input costs, and overall farmer sentiment in his region.