The Federal Reserve raised interest rates another quarter of a percent this week to 4.75%.
Dr. David Kohl, Professor Emeritus of Ag Economics with Virginia Tech tells Brownfield this is the largest interest rate increase since the 1980’s.
“It looks like the Fed is signaling that we might have another quarter percent interest rate hike, but when it is all said and done, it will probably be between 5 and 5.5%.”
Kohl says he is concerned that some fed members want the rate to reach 7%, making the prime rate 10%.
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