Ag lenders are encouraging farmers to review their risk management strategies as the Fed increases interest rates.

Glen Semple, Vice President of Commercial Lending with Farm Credit Illinois tells Brownfield the Federal Open Market Committee met earlier this month.

“They raised interest rates by 25 basis points, which is one-quarter of 1%. That is the first Fed rate increase since 2018.”

And he says market expectations are for at least one, if not two, 50-basis-point increases by mid-year as the Fed tries to temper inflation.

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