Agricultural News
Rural America Leading US Economy in Modest Recovery
Sat, 06 Nov 2010 21:35:23 CDT
Jason Henderson, the Omaha Branch Executive and a Vice President of the Federal Reserve Bank of Kansas City, talked about rural economic conditions on Friday at the OSU Rural Outlook Conference in Stillwater. Henderson spoke as the markets were digesting the news of the FED moving forward with a second round of Quantitative Easing, buying back Treasury Bonds and trying to force more liquidity into the marketplace.
Henderson's boss, Tom Hoenig, president of the Federal Reserve Bank of Kansas City and a member of the Federal Open Market Committee, has opposed the Fed's monetary policy actions and expressed concern that the risks of additional securities purchases outweighed the benefits.
Henderson told attendees at the Outlook Conference that two things are certain to happen as a result of Quantitative Easing. The first is higher inflation and the second is a pushing down of the value of the US Dollar.
Regarding the health of the rural economy in the heartland, Henderson contends a modest economic recovery is under way, and it's being led by rural America. He believes that we will have strong commodity prices "for awhile."
Ron Hays and Sam Knipp did a joint interview with Henderson as he prepared to speak to the Outlook Conference- and you can click on the LISTEN BAR below to hear Jason Henderson's comments.
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