b'Are Supply Chains on the Path to Correction? One Economist Says YesPurdue researchers look to the future of U.S. agricultural economics. Alex MartinOVER THE LASTtwo and a half years, the global economyhe said at the American Seed Trade Associations Leadership has been ravaged with surprises popping up. A global pan- Summit. Unfortunately, we have a conflict in Ukraine thats cre-demic hit, causing supply chains to suffer without a full recoveryated a second loop for us, and right in front of that rollercoaster yet. Russia invaded Ukraine, causing grain trade stress and strainis inflationI think that is the No. 1 topic we need to be worried across the globe, and further stress of the global agricultureabout or thinking more about. supply chains. U.S. interest rates have skyrocketed, and rumorsWhen thinking of the economics going on in the world, there say that while were facing high inflation right now, a recessionare four main questions to ask when thinking about inflation:could be on the horizon. 1. What is the nature of monetary policy?With the news swirling around us, its important to know2. How do inflation expectations affect wage negotiations?whats happening in U.S. economics, and what to start prepar- 3.How do consumer spending habits evolve relative to inflation?ing for in the futureespecially as sentiment across the U.S.4. How long will supply chain disruptions last?continues to fall. The Purdue University/CME Group Ag Economy Barometer reading in June continued on a downward slide Inflation Reaches Far into Societydecreasing two points to a reading of 97. The Index of FutureInflation has reached the highest rate in more than 30 years, Expectations fell 5 points to a reading of 96. Researchers noteGray says. 8.6 is an incredibly high inflation relative, and most of that this is the lowest level for the index since October 2016.us dont know about inflation.Is there reason to hope that issues causing economic stressIn response, the federal government raised interest ratescould be correcting themselves? According to Purdues Allanbut realistically, the funds were raised by .75 basis points. Gray, supply chains seem to be on the path to correction.Were a long way from where we could be with respect to Gray, director of the Center for Food and Agriculturalinterest ratesand thats an important thing to keep in mind, Business at Purdue University, described todays market as aGray says. rollercoaster. Wages are continuing to rise. According to the U.S. Bureau I may be a little optimistic in the sense that I put COVID inof Economic Analysis, wages in the U.S. increased 11% from May the front curve of the rollercoastermaybe were past that,2021-22. 12/ SEEDWORLD.COMSEED ASSOCIATION OF THE AMERICAS 2022'