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ISSUE DATE: 08/22/2011

Economy to grow at 'modest pace'

By Larry Dreiling

The Federal Reserve System's best-known economic contrarian was again in his element and roiling against current monetary policy during the Federal Reserve Bank of Kansas City's recent annual agricultural symposium.

Kansas City Fed President Tom Hoenig blistered the Federal Open Market Committee, a body he served on for a term ending last year, and let it be known that last November's "QE2 action" was a bad idea.

QE2 stands for a second round of quantitative easing by FOMC to buy an additional $600 billion of longer-term Treasury securities by the end of second quarter 2011 at a pace of about $75 billion per month.

Despite that assessment, Hoenig said he expects the U.S. economy will continue to grow at a modest pace, somewhere between 2.5 percent and--on a good quarter--3 percent for at least next year and perhaps the year beyond.

Hoenig's outlook is in the middle of Fed forecasts for 2011 but at the low end for 2012 and 2013.

Overall, the 12-member Federal Reserve Board sees U.S. growth at between 2.7 percent and 2.9 percent this year, 3.3 percent to 3.7 percent in 2012, and 3.5 percent to 4.2 percent in 2013.


NEWS

America's Heartland launches seventh season
Arkansas River Valley one hot spot
Economy to grow at 'modest pace'
Extension offers flood recovery information
Flexibility important in a volatile ag economy
FMCSA ensures no new regulations for ag community
Governor encourages investment in wind energy
Groups sign joint letter in support of GIPSA rule
Kansas State Fair to celebrate 150-year-old farms
MAESTRO offers free on-farm energy assessment
Report: Agriculture, ag sciences key to U.S. economic growth
Round barn celebrates 100 years
Seminar will help farmers handle arthritis
USDA chief scientist: Research key to U.S. growth
USDA issues proposed livestock traceability rule
Wichita farm bill field hearing is Aug. 25

CROPS

Agribusiness professionals to meet
Agriculture Future of America board meets
Arkansas River IGUCA eligible for Drought Term Permit
Conservation groups to host Exploring No-Till and Cover Crops field day
Corn production up from last year; soybeans down
Cotton and sugar commodities
Crop production numbers released for Oklahoma
Drought conditions continue
Dry Bean Field Tour set for Aug. 23
Extension expert says 100-bushel soybeans possible
Hitchhiking stink bug could find way to Arkansas
Judd Hill Field day set for Aug. 25
K-State Weeds Team places second at WeedOlympics
Meeting will cover bees in ag, pollination
Mighty mites
Minnesota crop production forecast down from 2010
Miseners move from wheat to oats
Missouri corn production up, soybean down from last year
Montana crop production numbers released
NAMA introduces future millers to public policy
Nebraska crop production forecast released
Nebraska Wheat Board announces August meeting
NMSU hosts visit of Iraqi agricultural faculty
NMSU's chile pepper garden open to visitors
Plant stress causing more severe yellowing of soybeans
Potential exists for herbicide carryover in a drought year
Resistance the best option against bacterial panicle blight
Roland Harvesting has a wild ride in Worland
Some dryland crops survive the drought
Soybean breeder participates in ag exchange program
Soybean checkoff supports 'America's Heartland'
Split Hoffman crews see wheat scab, flooding
SW Research Center Field Day is Sept. 9
Terrace maintenance can save soil, prolong usefulness
Testing fumigant films that keep the air clean
Texas crop production numbers released
Texas hosts national Peanut Leadership Academy
Texas wheat production estimated at 52.0 million bushels
U.S. Grains Council hosts sorghum export mission to Africa, Europe
Versatile compound examined in crops
Wheat growers meet with Taiwanese processors
Zeorian Harvesting moves to Montana

LIVESTOCK

American Gelbvieh Foundation awards scholarships
American Gelbvieh juniors elect leadership
Apply for 2011 Livestock Disaster Assistance
ASI raises concerns over APHIS reorganization
Beef Cattle Facilities Tour set for Aug. 23
Beef producers could learn from chicken farmers
Branding will continue
Cattlemen's Beef Board elects leaders
CBB, NCBA: Checkoff financial firewall is functioning properly
Champions Named in Gelbvieh Junior Twister Classic
Check requirements before importing cattle
Cleveland County Cattlemen's Association to host ice cream social
Combat sizzling temperatures
CSU students receive beef industry scholarships
Deets honored by feeding quality forum
Early weaning of spring-born calves
Federation helps state councils promote beef
GAO confirms problems with horse processing restrictions
Garrett Lampe named Herdsman of the Year
Heat stress may cut spring calf crop
Herman Cain addresses cattlemen
Improve wool quality
Junior exhibitor earns Limousin's O'Brien Award
Junior National Hereford Steer Show winners announced
Livestock Marketing Association holds annual meeting
National Beef recalls 60K pounds of beef
NCBA commends APHIS on proposed animal disease traceability rule
NCBA launches new website
NMSU Extension to participate in 5-State Beef Conference
Oklahoma Cattlemen's Convention recognizes top recruiters
Organization launches swine consulting agreement
Professor receives Distinguished Teacher Award
Rabid skunks found in Cheyenne area
Red Angus breeders to meet for national convention
Salers juniors compete in national show
SCC to hold live farrowing demonstration at Ak-Sar-Ben
State law on bull testing goes into effect Sept. 1
Test cattle for bovine trichomoniasis
Unloading Mycoplasma bovis
USDA to study beef feedlot health management practices

EDITOR

A little bit of help
A new type of vacation
NCBA prez: Cattlemen win with renewed partnership
The wheels on the bus

COLUMNS

Just a scoop full
Just a scoop full
Long, warm days can bring us new insights
Lost somewhere in the forest

MARKETS

Aberdeen cattle sales report
Aberdeen livestock sales report
Ada livestock sales report
Amarillo livestock auction summary
Apache livestock auction report
Arkansas livestock auction summary
Brief rains provide little relief
Clovis livestock auction report
Conditions vary across South Dakota
Corn development moves closer to the five-year average
Dalhart livestock auction report
Dodge City cattle sales report
Dodge City cattle sales report
Ericson livestock auction report
Ft. Smith livestock sales report
Georgia cattle auction summary
Goldthwaite sheep sales report
Grain market close
Grain, soybean bids moderately higher
Hay prices mostly steady, movement moderate
Hay trade moderate
Haying and harvesting of small grains rolls on
High Plains slaughter news
High temps continue in Colorado
Hot, dry weather continues
Joplin livestock auction report
Lower temperatures and precipitation bring relief
McAlester livestock market report
North Arkansas livestock auction report
North Arkansas livestock auction report
OKC West livestock market report
OKC West livestock sales report
Pratt 3 p.m. cattle sales report
Pratt livestock sales report
Rain fails to improve crop conditions
Salina livestock auction report
Scattered showers help Texas crops
Springfeld livestock auction report
Springfield livestock market report
State sees cooler weather
Topsoil moisture begins to recover from hot, dry July
Tulsa livestock auction report
Waiting on rain
West Plains regional cattle sales
Woodward livestock auction report
Wyobraska cattle sales report

RANGE

CRP emergency haying and grazing approved
Dependence on stockpiled fescue will be high this winter
Forage expert: Sell out herds now
Hay entries show extremes
Website walks ranchers through drought planning

FAMILY

2011 'Harvesting Thanks for Agriculture' Art Contest
4-H is community leadership
Baking better biscuits
Demonstration gardens to have a new look
Dividing irises and daylilies
Fall Market Gardening School begins in September
Irrigating trees and shrubs during drought
K-State to host horticulture events
Make pickle packing a success
Meditation for 8-22-11
Mold a bigger concern than slugs
Southwestern Theron loaded with features
Sweet summer delights
Taking control of your summer garden
USDA scientist credits 4-H for building kids' interest in science

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