Feds Won’t Raise Interest Rate; Voluntary GMO Labeling Gets Support From National Farmers Union
The Federal Reserve will not increase interest rates at this week’s meeting but will likely hint that rate hikes are on the horizon. As long as U.S. inflation and jobs continue to strengthen, economic weakness overseas won't stop rates from rising soon. The last time Fed officials met, uncertainty over the impact of slower growth in China and Europe drove policymakers to signal it would stay on hold. New forecast this week following the meeting are expected to indicate the possibly of two or multiple rate hikes, starting around mid-year.
The National Farmers Union now supports voluntary GMO labeling following debate at the organization’s annual convention last week. The Farmers Union previously supported mandatory GMO labeling. The change in position came after what DTN called wrenching debates that pitted traditional NFU membership against farmers that are more likely to be growers of organic food crops. The debate comes as the Senate is expected to vote on a voluntary labeling proposal by Kansas Republican Senator Pat Roberts sometime this week.