Grassley opposes raise in interest rates

After a record-setting Monday on Wall Street, another interest rate hikecould be made today by the Federal Reserve. Iowa Senator Chuck Grassley saysit’d be the WRONG thing to do, especially for farmers who are on what hecalls the financial edge.Predictions indicate it’ll be a quarter-of-a-percent hike in interest ratestoday — the 2nd raise in two months. Grassley says Fed chairman AlanGreenspan should have learned from his mistake the last time interest rateswere hiked.An announcement from the Federal Reserve Board regarding interest ratesis expected at around 1:15 p-m, Iowa time. Grassley says interest ratesshould be left alone.The Senate has passed five-and-a-half billion dollars in immediate aid tofarmers in a package that still needs House approval when Congress returnsafter its month-long summer break.