After a year of rising interest rates and a level of uncertainty in the ag sector, one economist believes the Fed will reverse course on their interest rate hikes.
Tanner Ehmke, the lead Grain and Oilseed Economist with Cobank, tells Brownfield Ag News the dollar value is expected to weaken next year, and the Fed could lower interest rates multiple times. He says in turn, that is going to put a stronger floor on commodity prices and could be positive news for U.S. ag exports.
For the last two Fed meetings, Chairman Jerome Powell has decided to keep the current rate in place.
