On Nov. 7, the Federal Reserve cut its key interest rate by a quarter point in response to the steady decline in inflation. This cut followed a half point reduction in September. The Fed’s benchmark rate is now about 4.6% — down from a decade high of 5.3% before the September meeting.
This latest cut will make floorplan interest cheaper for dealers, according to Greg Roberg, AgDirect vice president of sales. “The cost of fixed…
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