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Fed leaves rates unchanged

The Federal Reserve made no changes to interest rates this week and an ag economist says some cuts are likely later in the year.

Creighton University’s Ernie Goss says, “They indicated there might be two rate cuts this year. I think that’s probably in line with what will actually happen. The markets took it as good news.”

He tells Brownfield farmers and ranchers have been dealing with several uncertainties and lower interest rates would be a positive. “You’re talking about input prices, whether it’s fertilizer or other inputs, those have been rising. Then you’re talking about ag output prices and those have been volatile. That’s not going to change.”

Goss says the latest survey of bankers in the Rural Mainstreet Index indicated a reduction in farm income in 2025 compared to 2024.