FCA board receives quarterly report on economic conditions in agriculture and the Farm Credit System

▤ Summary

This raises concerns that interest rates will have to rise to the point of increasing unemployment to bring inflation back down. Rising interest rates can also strengthen the dollar, making American agricultural exports less competitive in foreign markets. Volatility will likely persist because of the shutdown of the Nord Stream pipeline in Europe and planned oil supply cuts. Since natural gas is a major component of nitrogen fertilizer, farm input costs will be a significant issue for producers going into 2023. Through the first six months of 2022, the System reported favorable financial results, including continued asset growth and increased earnings.

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