Bullard: concerned U.S. farmland may suffer a bubble in price
JONESBORO, Arkansas (Reuters) - Ultra-low U.S. interest rates may be contributing to the strong rise in the price of the nation's farmland but high crop values could also be heating up the market, a senior Federal Reserve official said on Wednesday.
"I continue to be concerned about the prospect for a land price bubble in the United States," St. Louis Federal Reserve President James Bullard told an agribusiness conference hosted by Arkansas State University.
Responding to audience questions, Bullard also said the United States' total debt was "flirting" with levels that were unsustainable, based on economic research of nations whose debt levels had risen above 90 percent of gross domestic product.
(Reporting By Alister Bull; Editing by Chizu Nomiyama)
- Obama and Castro shake hands, Zuma humiliated at Mandela memorial |
- Google bus blocked in San Francisco gentrification protest
- Reporter can keep sources secret in Colorado theater shooting: court
- Couple, four children missing in Nevada found safe in canyon
- Regulators seek to curb Wall St. trades with Volcker rule |