The Federal Reserve has cut the benchmark interest rate by a quarter percent. This is the third interest rate deduction this year. Fed Chair Jerome Powell also indicated interest rates will likely stay at current levels unless the economy takes a sharp downturn.
AgCountry Farm Credit Services is also reducing interest rates on variable rate loans starting December 1. According to AgCountry President and CEO Marc Knisely, this move will help better position farmers during the current economic challenges. The decision comes following the announcement by the Federal Reserve.
