Recession and Farm Bill Pt 1
From the Ag Information Network, I’m Bob Larson. They’ve been predicting it for a few years now, but still no recession. That doesn’t mean things have been easy for ag producers over that time.
RaboBank strategist, Steve Nicholson says the key now is that there are still jobs available …
NICHOLSON … “Until we see, in my mind, until we see a pullback in jobs created or the opportunities for jobs, it’s going to be very hard to go down a path of a recession.”
So far, Nicholson says it’s been very interesting to watch it play out …
NICHOLSON … “The fed may have engineered the classic soft landing. That’s I think yet to be seen, but it’s remarkable how resilient the U.S. economy has been.”
The Fed, Nicholson says will likely continue to play it down …
NICHOLSON … “So I think they’re going to be reluctant because of both political pressure to move rates up, to say that they’ve put their thumb on the scale, but at the same time, take them down too much, with their thumb on the scale, I think they’re going to try to have a fairly quiet year because, we all know that, politicians will criticize them or praise them depending on what actions they take and how that fits into their political narrative.”
Tune in tomorrow for more on the economy and how that plays into getting the next farm bill done … in an election year.
