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The Farm Credit Administration reported that tight labor markets, rising interest rates, a strong dollar, high energy prices, and drought conditions are creating uncertainty in rural economies and farm input prices—though the Farm Credit System is reporting favorable financial results.
Grassroots: Community bankers can continue to use ICBA’s Be Heard grassroots alert urging congressional support for the ECORA Act (S. 2202 and H.R. 1977), which would exempt from taxation interest income on farm real estate and rural mortgage loans to help level the playing field with the FCS.