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.
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Selected References