JONESBORO, Ark. Feb 13 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.