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ISSUE DATE: 08/18/2014

Be prepared for higher interest rates

By Larry Dreiling

Historically, presidents of the Federal Reserve Bank of Kansas City have been consistently resistant to most forms of artificial stimulation of the United States economy.

When these presidents hold a seat on the Federal Open Market Committee (FOMC), which decides interest rates the Fed offers lenders, and in turn to the public, they often show their Heart of America roots by being a lone voice of dissent when the FOMC calls for such action as buying additional government securities to stabilize the economy.

The benefits of such purchases, KC Fed leaders have historically believed, outweighed the benefits, and a continued high level of monetary accommodation increases the risks of future financial imbalances and, over time, would cause an increase in long-term inflation expectations that could destabilize the economy instead of strengthen it.

The bank’s current president and CEO, Esther George, brings her background of growing up on a farm in northwest Missouri to the job. The sense of responsibility of farm chores is seen in George’s analysis, which is leaning—as one might expect—to a call for high interest rates.

“Getting interest rates off zero relatively soon is not only appropriate in terms of current economic conditions, but also will allow the Fed room to maneuver in the future should economic activity slow,” George told attendees at the KC Fed’s recent agricultural symposium.


Access bill falls short for rural veterans
Agricultural producers in Colorado still have time to apply for direct farm ownership loan program
Agriculture Secretary Tom Vilsack provides six-month update on farm bill implementation progress
APH unlikely for 2015 crop year, Vilsack says
Be prepared for higher interest rates, Fed leader says (And this time, the prediction may really hap
Chow Line: For now, stick with low-fat or nonfat dairy
Food safety tips for shoppers at farmers markets
Greenhouse gas report to assist producers facing climate challenges
Historic farm bill funding available to organic producers and handlers
House tumult shows immigration still flummoxes GOP
Improvements start with tough questions, then a plan
Instincts can drive bird strikes against windows
Kansas State University student receives 2014 Forrest Bassford Award
K-State Agricultural Lender Survey: Start of 2014 shows expected increases for future ag lending
New online challenge 'Prepare Kansas' can help individuals, families get disaster-ready
New, easy-to-understand information available to household water well owners
Reps. Costa and Crawford prepare for WTO ruling on COOL rule
Rural Development funding to provide affordable work space in Lexington
Russia hits back on sanctions; bans food from West
USDA announces grants to community partners to create jobs and strengthen small rural businesses
USDA partners with states, tribes to improve public access on private lands
USDA selects Abengoa to accept biomass deliveries in Kansas
USDA sending acreage history and yield reports to help producers prepare for new farm bill programs
UW Extension offering leadership course on Wind River Reservation


2014 Wheat Planting Decision Meetings announced
August Field Days focus on switchgrass as bioenergy feedstock
Camelina, sugarcane aphid among topics at Fall Field Day in Hays
Commodity commission candidates sought; Nov. 30 filing deadline
Corn crop looking best in years
Corn, bean prices likely to drop
Cotton Transition Assistance Program enrollment begins
Delivering consistent quality: Italian team examined U.S. HRS crop
Dry July could have capped crop yield estimates; be wary of yield formulas, MU agronomist warns
Dryland Ag Day planned in Southwest Kansas
First Oklahoma Irrigation Conference scheduled Aug. 19
Gary Smith returns to Colorado State University as special advisor, visiting professor
Get the latest in agriculture at Graves-Chapple in Rock Port
Going under cover with crops
High Plains cotton generally in good shape, but rain needed soon
Kansas State University's Kun Yan Zhu honored
K-State cropping systems field day planned for Aug. 28
K-State releases new wheat variety
K-State Weed Science Team wins regional contest
K-State's Freddie Lamm honored for work in subsurface drip irrigation for field crops
Misener Family Harvesters: Mountains of Oklahoma
MU researchers explore inter-seeding cover crops
New USDA Conservation Partnership Program receives nearly 600 initial proposals
NMSU to host chile field day at Los Lunas agricultural science center
Oklahoma ag education receives national recognition
Osowski Ag Service: Final days in Hemingford
Responding to wheat production challenges: sawfly, virus, weeds
Roland Harvesting wrapping up Nebraska harvest
Texas students win Peary Wilemon-National Cotton Ginners' scholarships
The Cotton Board to recommend $80 million budget to Secretary of Agriculture
UNL Extension provides precision ag and soil, water in-field training
Verma honored with academic leadership award
Winners announced for 2014 Kansas Wheat Yield Contest
Z Crew: Weekend work


15th Annual Flint Hills Beef Fest BBQ
28th Annual Flint Hills Beef Fest
5K 'Run for the Brand' comes to Beef Fest Aug. 23
Animals get hot, too; need relief from heat
Colorado State University to host cattle handling workshop Sept. 5 and 6
CSU veterinarians advise ways to avoid infection while traveling with horses
Dr. Getty notes: Cecum exit defies gravity
Establish a plan with your vet before PEDv strikes
Gudmundsen Sandhills Laboratory Open House Aug. 20
Hereford juniors receive scholarships in honor of John Wayne
ICA regional meetings scheduled for late August, early September
Journal livestock team earns recognition
K-State hosts Animal Sciences Leadership Academy
Long-time KLA CEO Dee Likes stepping down at year's end
MCA 32nd annual junior cattle show concludes
Missouri Cattlemen's Association praises passage of Amendment 1
New equine auction catalog app available
New junior Hereford board members, officers elected
New Sheep Production and Marketing Grant Program will provide $1.5M in grant funds for sheep industr
NMSU developing food supplement to improve cattle digestive system
NMSU graduate student awarded ASI scholarship
NMSU offers Ag Day Degree in conjunction with Agriculture Day activities
NMSU to host ranchers' roundtable Aug. 20 in Corona
'Out-of sight' beef prices pose opportunity for those with grass
Parasites take a bite out of profits
Pike Trail Cattle Company to host KLA/K-State Ranch Field Day
Ranch Rodeo
Sioux Falls site of Gelbvieh Junior National Show
South Dakota Stockgrowers thank Noem for vote on Endangered Species Act
Speaker at Cattle Industry Summer Conference reflects on drought in southeastern Colorado, other sta
Theis Named Junior Herdsman at the 2014 NJAS
Unresponsive scours to deworming or antibiotic treatment may be coccidiosis
Vesicular Stomatitis update: 69 Colorado quarantines
Wilsall Cattlewoman receives National Educator Award
Wilson family to host KLA/K-State Ranch Field Day


Cracks in the coalition
Great news for future of ag
See the map, believe in 'Ditch the rule'


Firm offers policy for unwarranted suits
Firm stresses technology to help producers
Kerry prefers starving kids
Opportunities to learn and grow
There are many ways to get injured
Trade counters conflict


Amarillo livestock sales summary
Arkansas livestock auction summary
Below normal temps persist South Dakota
Corn crop maturing Arkansas
Dodge City livestock sales report
Fort Smith livestock market report
Grain market close
Hay production on hold in some areas New Mexico
Hay trade slow
High Plains slaughter news report
Most all hay classes selling steady
Much needed rain arrives Missouri
OKC West livestock auction report
Pratt 3 p.m. livestock auction report
Pratt livestock auction report
Precip slows fieldwork in some areas Iowa
Preparations for fall seedings continue Texas
Rains lower irrigation demands Nebraska
Salina livestock auction report
Soybeans rated mostly excellent to good Oklahoma
Soybeans, wheat close lower
Sunny, dry days help crops mature Montana
Widespread precipitation delays harvest Colorado
Widespread, much needed rain fell across state Kansas


Making it work for land and livestock owners in a grazing lease
Plan now for stockpiling tall fescue
Register soon for Gerrish Grazing Series Sessions
Study finds benefits to burning Flint Hills prairie in fall and winter


Abilene boy gets to work in front of hometown crowd
Dieterle's features give it curb appeal
Dinner on the double!
'Growing Garlic' program is Sept. 2 at Botanical Center
Helpful household tips
Oklahoma FFA members take leadership conference to Washington

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