Moran questions Reserve on interest rate hikes, consequence to Kansas farmers

TOPEKA, Kan. (WIBW) – Senator Jerry Moran questioned the Federal Reserve throughout a listening to on Wednesday about rate of interest hikes and the consequence on Kansas farmers.

U.S. Senator Jerry Moran (R-Kan.) – a member of the U.S. Senate Banking Committee – questioned Federal Reserve Chairman Jerome Powell on Wednesday, June 22, throughout a committee listening to.

Sen. Moran stated through the listening to, that members mentioned latest rate of interest hikes and their influence on the Kansas agricultural group. He stated within the more and more troublesome enterprise surroundings Kansas farmers already face, uncertainty concerning the trajectory of prices poses a rising risk to the trade and its leaders.

“Farming is a noble calling, and it has lots to do with having the ability to feed people who find themselves now determined,” Moran stated. “A part of the priority in regard to agriculture is that rates of interest have a major consequence to the profitability, to the survivability, of producers and revenue margins get squeezed. If rates of interest proceed to climb, we face declining or decrease land values that create better entry to credit score challenges.”

To listen to the Senator’s full remarks, click on HERE.

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