The Year Ahead: Forces That Will Shape the US Rural Economy in 2021

By Brian Cavey , Tanner Ehmke , Thomas Halverson , Jeff Johnston , Dan Kowalski , Will Sawyer , Teri Viswanath and Kenneth Zuckerberg

December 2020

The Year Ahead: Forces That Will Shape the US Rural Economy in 2021Against all hope that COVID would fade in 2020, the virus will continue to steer the global economy in 2021. Much of next year’s economic trajectory will depend on fiscal policy decisions made over the next couple of months as well as the arrival and reach of a vaccine. In the meantime, higher commodity prices and low interest rates will be an important financial buffer to U.S. net farm income in 2021, especially as the federal government’s farm payments greatly diminish.

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