Fed's Powell Says Ag Banks Remain In Solid Shape

Banks remain in good shape to continue lending to farmers and ranchers despite deteriorating conditions in the agricultural economy, Federal Reserve Chairman Jerome Powell told lawmakers on Thursday. "Our farm belt banks have had a lot of experience in dealing with the issues that farmers are confronting right now," Powell said at a Senate Banking Committee hearing. "As a whole, the agricultural sector is in a difficult place. It is a tough time. I know that banks are trying to work through those difficulties with farmers."