Tidbits, Interest Rate & Inflation, Black Sea, Canadian Crops, Livestock, Broilers & Ethanol 9/17/26
Tidbits
The Federal Reserve increased the Fed Fund rate 25 basis points (from 3.75% to 4%). The decision by the 12-member Federal Open Market Committee was unanimous. The Fed chair attributed this to the fight against inflation. This was the first time the Fed had raised rates in three years; prior to that, it had cut rates three times in 2024 and three times in 2025. Donald Trump sharply criticized the FOMC’s decision to raise the benchmark interest rate, stating that it was driven by “political motives.” Trump called on the Fed to lower interest rates, and to do so quickly. According to Trump, interest rates in the U.S. should be 1% or lower.
Retail sales in the U.S. increased 1.2% month-over-month in August, the most in five months. Sales at gasoline stations recorded the biggest increase of 3.1%.
According to AAA, the national average for regular gasoline is $4.36 per gallon today, up 14¢ from a week ago and up $1.18 from a year ago. The national average for diesel is $6.31 per gallon, up 37¢ from a week ago and up $2.61 from a year ago.
U.S. Transportation Secretary Sean Duffy said on Wednesday the administration is temporarily relaxing rules on hours of service by truck drivers handling gasoline and diesel, citing supply and cost concerns. The 90-day waiver takes effect on Wednesday, allowing drivers to operate up to 16 hours within a 24-hour window, versus 14 under existing rules, so long as they take required rest breaks.
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