U.S. inflation is at a 40-year high, and the U.S. is not the sole owner of the inflation situation (see map). “We didn’t talk about inflation for 20 years,” says Jackson Takach, chief economist at Farmer Mac. “That’s not the case anymore.”
 
Expect higher interest rates on loans in 2023. “There is time to do balance sheet management,” Takach says. “Farmers can still restructure to protect themselves from interest rate risk.”
 
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