This morning at AG CONNECT Expo the first session was the Ag Executive Forum. The keynote speaker for breakfast was Thomas Cunningham, Economist and Associate Research Director, Federal Reserve of Atlanta. Thanks to Mary Thompson, Farm Foundation, for taking a photo of us in the hallway during my interview with him.
According to Thomas the economy is recovering but at a very slow pace. I asked him if there was room for optimism and he said it was more like “less room for pessimism.” He says that things are pretty good for the ag sector of the economy. With people around the world building wealth they’re spending more on food. As he put it, “It doesn’t look too bad right now.” and “The world is getting wealthier and as it does that it is changing its diet.” He doesn’t see this trend reversing. I thought he made an interesting observation that in talking with ag groups they “have a good sense of history.” So the bottom line is that the ag sector is relatively healthy compared to the rest of the economy but we should keep in mind that the world has changed, mostly for the better, and make financial decisions accordingly.
You can listen to my interview with Thomas here: Thomas Cunningham Interview