(State) Janet Yellen, the new Chair of the Federal Reserve, makes her first comments before the U-S Congress tomorrow. She's expected to report on the Fed's recent tapering it's huge "Bond Buying" program. I-S-U Economist Dave Swensen says the move was widely expected, because the nation's economy has been improving. Swensen says that means Iowa's outlook is good too..
"Money is still cheap to borrow. We still have a lot of potential for productivity gains and the amount of money that's in or not in the economy because of the Fed probably isn't going to control much of our growth over the next year or two years."
Some analysts worry about the impact of a slowing global economy, but Swensen says he doesn't see it resulting in a significant change in farm-related exports from Iowa.
Iowa Radio Network