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Bankers are more optimistic about the economy
A survey of Wisconsin bankers shows optimism about the economy.
Rose Oswald Poels of the Wisconsin Bankers Association tells Brownfield their semi-annual survey surprised them as member bankers were more positive than they were six months ago. “You’re seeing some signs of inflation slowing down and I think you know we’ve confirmed the recent action by the Fed that decided not to hike rates again.”
Eighty-six percent of bankers predicted inflation would fall or stay the same, compared with 76 percent last fall. “You know, there’s still a bit of concern about the future recession, but the pessimism is definitely fading.”
According to Oswald Poels, national data from the Federal Deposit Insurance Corporation shows the farm sector is healthy and farm credit is up 2.5 percent year-on-year. “We are seeing continued steady growth there, certainly not astronomical or of major importance. I think it shows that farmers are prudent in borrowing and banks are very willing to continue lending.”
According to Oswald Poels, defaults are near record lows, bank reserves are healthy and their farm lenders have no trouble providing farm equipment or operating loans.
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