Fed official: trade tesions hurting US farmers

Added On October 14, 2019

 A U.S. Federal Reserve official says trade tensions have created complications for the U.S. economy and have hurt U.S. farmers, particularly those growing soybeans.

President of the Federal Reserve Bank of Minneapolis said the effect of trade disputes between the United States and its major trade partners is "complicated" and that the real difficulty is psychological.
He warned businesses could pull back their investments because of uncertainty concerning tariffs and trade tensions.
The official said soybean farmers in the U.S. have suffered low prices for years.
He said global supply has been rising as China turns to new sellers to satisfy demand. Those dynamics could permanently affect soy bean prices and U.S. farmer incomes.