FCS Financial: One Hundred Years July 2016 | Page 60

Chapter Four The Perfect Storm As the 1970s came to an end, the Federal Reserve Board took measures to control inflation. The European demand for American agricultural products dropped as inflation decreased the value of the American dollar overseas making U.S. products more expensive in foreign markets. As a result, American farmers experienced huge surpluses, lower prices, and reduced incomes with which to repay loans. The Dale Dirck family, visited here by a loan officer from the Jefferson City Production Credit Association, was featured in the September/October 1979 issue of Farming magazine. 56 Selected References