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Federal Reserve indicates interest rate cuts are coming soon
A senior economist at the Federal Reserve Bank of Kansas City says interest rate cuts are expected soon.
Cortney Cowley says the chair of the Federal Reserve made the announcement last week.
“Price stability is one of the mandates of the Federal Reserve, but the other mandate is full employment at the same time, we’re seeing inflation come down,” she says. “We are starting to see some, some slight increases in unemployment indicates to policymakers that it may be time to start lowering interest rate.”
She tells Brownfield this is good news for farmers.
“They could start to see lower interest rates on any new loans that they need to take out or if they refinance or on the loans that they pay on their operating expenses or on new land purchases or new machinery,” she says.
She says the Federal Open Market Committee will make its final decision on September 18th.
