Posted 3/22/2024, 6:06:34 PM
Rising Rates Put Squeeze on Farms and Rural Areas as Fed Hears Economic Impacts
- Higher interest rates creating "stranglehold" on American agriculture and rural communities
- Rapid rate hikes made it difficult for farms to financially hedge against rising rates
- Fed "Listens" event allows business leaders to detail real-world impacts of rate decisions
- Rising rates coupled with other costs squeezing profits and investment for small manufacturers
- Job growth slowing, especially in high-paid sectors like tech, after 2021-22 labor market frenzy
