All, below, probably partially explains why Hoenig is the most outspoken Fed Reserve hawk, the midwest is doing well with ag. Harold
Farmland values also are rising. Land prices in some areas of the Federal Reserve Bank of Kansas City’s district -- which includes Kansas, Nebraska, Wyoming and parts of Missouri -- increased as much as 12 percent in the third quarter from a year earlier, the biggest jump since the fourth quarter of 2008, the Fed bank said Nov. 12.
That may be prompting some speculation, as people see land as “an inflation hedge,” Thomas Hoenig, the bank’s president, said Oct. 25 in a speech in Lawrence, Kansas. Buyers are thinking “you can’t go wrong with land,” he cautioned. “I don’t want to see that.”