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Beginning farmers face rising costs as Fed hikes push debt higher
The Fed's June rate increase marks the second hike this year and lifts short term loan costs. Beginning farmers already shoulder land, equipment and crop debts, with land comprising about three quarters of start up costs. Experts warn higher rates strain equity and delay investments while farm incomes fall and trade issues persist.
MENTIONED IN THIS ARTICLE
Federal Reserve
Chad Hart
Iowa State University
Fed
Hart
Towa
China
Lehman