(Atlantic) Atlantic native and designated chairman and CEO of the Farm Credit Administration Glen Smith spoke at the Cass/Atlantic Development Corporation’s annual dinner meeting on Tuesday at the Atlantic Golf and Country Club.
Smith says the Ag economy is in a good place right now. He says 2020 ended strongly boosted by a combination of trade relief payments, higher commodity prices, exports, and drought conditions.
The higher commodity prices are certainly a plus for the Ag economy, but one red flag on the horizon is inflation.
Smith says inflation is normally coupled with high-interest rates. He doesn’t think that is on the horizon near term. However, if the Feds decide to change its policy and clamp down on inflation, things would quickly change.
Glen Smith has served on the FCA Board since July 17, 2017. His term expires on May 21, 2022. Smith also serves on the board of directors Farm Credit Insurance Corporation, which is an independent U.S. government corporation responsible for ensuring the timely payment of principal and interest on insured notes, bonds, debentures, and other obligations used on behalf of FCS banks.
