Low Interest Rates May Be Thing Of The Past

A DTN/Progressive Farmer article

The Federal Reserve's quarter-point interest rate increase may not be the first of many hikes, but it ends, for now at least, the prospects of interest-rate cuts. That's a disappointment for farmers and other business borrowers, not to mention President Donald J. Trump.

In unanimously raising the benchmark rate to a range of 3.75% to 4%, the rate-setting Federal Open Market Committee (FOMC) released projections by 18 of its 19 members that there will likely be one more quarter-point increase this year to a rate of around 4.1%, a rate projected to continue through next year. (There were only 18 projections because Fed Chair Kevin Warsh refuses to make them.)

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