Fed gets an earful about 'stranglehold' from high rates streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
(Reuters) -Federal Reserve Chair Jerome Powell and fellow Fed governors on Friday heard firsthand from business and community leaders how the Fed's interest rate hikes, along with ongoing price and labor market pressures, are affecting Americans. Higher interest rates together with instability in commodity prices "has a stranglehold on the American agriculturalist right now, which leads to a stranglehold on all of rural America," said Whitney Ferris-Hansen, who owns and operates J/W Farms and Ranch in Burlington, Colorado.
OEMs will look to offset rising labor costs with cuts in other areas and tooling and die-making are inviting targets, Harbour Results' Laurie Harbour says.