Federal funds rate has soared since March 2022

Line chart showing Federal funds rate from 2000 through forecasted amounts for 2022 and 2023.

USDA’s Economic Research Service projects that U.S. farm debt is expected to rise to a record level in 2023, with interest rates as the fastest-growing production cost. However, when measured using solvency and liquidity ratios, the potential impact of higher interest expenses is minimal.

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