AFBF President Zippy Duvall concerned about interest rate hike
American Farm Bureau President Zippy Duvall is concerned about the Federal Reserve raising interest rates this year.
“That’s the only really big difference between the bad times of the 80’s and what we’ve just experienced is the difference in interest rates. So if the interest rate started climbing, it would be devastating to agriculture. All of it, not just new and beginning and young farmers, it would be devastating to everyone.”
He tells Brownfield it looks like interest rates will be going up as the Fed tries to deal with inflation.
“Everything that I’m buying is costing me more, so it’s difficult. And I know it’s all across the board that way, and one of the things our people are concerned about is the cost of fertilizer. And now it’s even compounded by the availability of it.”
Brownfield interviewed Duvall during the American Farm Bureau Convention in Atlanta.