Bankers Say Recession Is Here | April 2026 RMI

The April Rural Mainstreet Index points to continued contraction across the rural economy, with more than half of bankers reporting local recession conditions. Dr. Ernie Goss breaks down what’s driving these shifts and what to watch going forward.Key takeaways from this month’s survey:* Recession Reality: 54.2% of bankers report current recession conditions.* Rural Assets: Farmland and ranchland values fell below growth neutral.* Ag Equipment: Equipment sales sank below growth neutral for the 32nd straight month.* Planting Shifts: Farmers are shifting acres from corn to soybeans in response to rising fertilizer costs.* Policy Impact: 62.5% of bankers say the $12B Farm Bridge program is having little to no impact.* Interest Rates: Most bankers recommend no change in interest rates amid ongoing inflation concerns.Hosted by Andrew Hoover | Produced at Creighton University’s Menard Institute for Economic InquirySubscribe to the Rural Banker This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit erniegoss.substack.com