Fed Cuts Interest Rates by Quarter Point

Nov 14, 2024

On Thursday, the Federal Reserve cut its key interest rate by a quarter point in response to the steady decline in inflation. This cut followed a half point reduction in September. The Fed’s benchmark rate is now about 4.6% — down from a decade high of 5.3% before the September meeting.

High inventories on dealers’ lots have come with high interest payments. Following the September cut, George Russell, a founding member of the Machinery Advisors Consortium, said that a typical $30 million floorpan debt would see a $150,000 benefit. This latest cut would add another $75,000 for a total of $225,000.

“The point is,” he said, “That is not much in a dealer with $30 million of floorplan debt.”

Ahead of this latest cut, Kyle McMahon, founder and CEO of Tractor Zoom, laid out the following annual interest rate savings on LInkedIn for equipment dealers at the previous 50 bps cut and the 200 bps cut that is expected in the next year.

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Video: Independent Seed, National Impact | On The Brink: Episode 9

A survey of 200 independent seed businesses reveals what Canada's seed sector actually contributes — and what it stands to lose.

On the Brink, Justin Funk, a third-generation agri-marketer, shares the findings of a national survey conducted in early 2026. The numbers reframe the conversation: independent seed companies in Canada represent upwards of $1.7 billion in dedicated seed infrastructure, approximately 3,000 full-time equivalent jobs in rural communities, and an estimated $20 million in annual community contributions. And roughly 90% of Canada's cereals, pulses, and other small pollinated crops flow through them.

The survey also asked how dependent these businesses are on public plant breeding to survive. The answer was unambiguous. For policymakers evaluating the future of publicly funded breeding programs, Funk argues the economic case for this sector and the case for public plant breeding are the same argument.

On the Brink is a cross-country video series exploring the future of plant breeding in Canada. Each episode features voices from across the industry in an open, ongoing conversation about innovation and long-term investment in Canadian agriculture.