Guest column/Lowering costs for farmers
Guest column/Lowering costs for farmers Agriculture has long been the backbone of Ohio’s economy , but the last few years have been especially tough for farmers. High inflation coupled with a series of interest rate hikes have drastically increased the cost of doing business. As we have all seen play out over the last year, the Federal Reserve raised interest rates seven times in 2022 and once more at the start of this month. This one-two punch of ongoing inflation and interest rate hikes has made it extremely difficult for the agriculture industry to plan for this year’s growing season.