Close Up: Iowa farmers face uncertain harvest with China not buying; change in state’s political leadership
Coming up on KCCI 8 News close up, the Federal Reserve cuts interest rates for the first time this year. What that means for your wallet and Iowa’s economy, and Iowa farmers are navigating uncertainty as their biggest customer holds out what needs to happen to secure soybean sales before the start of harvest. Plus *** major change at the Iowa State House. The Senate majority leader is stepping aside. What his exit means for Republicans heading into 2026. This is Iowa’s news leader. This is KCCI 8 News close up. Good morning. Thanks for joining us for KCCI 8 News close up. I’m chief political reporter Amanda Booker. The Federal Reserve cut interest rates last week. It’s the first reduction we. Seen since President Trump took office, the Fed cut interest rates by 0.25% point and signaled that two more cuts could come before the end of the year. Officials say the move reflects growing concern about job growth dropping across our country right now. I talked with Doctor Peter Razum. He’s *** professor of economics and interim chair of the Department of Economics at Iowa State University. We talked about what lower interest rates mean for you when it comes to your mortgage, car loan, or just your overall financial plans. Well, thanks so much for making time to chat with us it’s *** pleasure. It’s an honor. Um, let’s start with the basics. What is the job of the Federal Reserve and why should Iowans care about what it does? Well, the Federal Reserve basically controls the minimum level of interest rates. They control the interest rates that banks charge each other for borrowing, and then *** lot of other interest rates are targeted to that particular base. They can lower that interest rate and as *** consequence that’s going to make mortgages and credit card debt *** little bit less expensive. Yeah, tell me more about that because we know that the Feds just cut interest rates by 0.25% of *** percentage point. Practically, what does that mean for Iowans, whether they’re buying *** house or just looking at their savings or running *** business? It’s probably not going to make that much of *** difference. I mean, current mortgage rates are on the order of 6.5%. Uh, they might drop by 0.25 point. Uh, is that back to where they were when they were 3%? The answer is no. Uh, on the other hand, what they will do is it signals to the rest of the economy that they’ve now changed their stance, so they’re going to be less concerned about inflation, more concerned about trying to stimulate economic growth, which is the other mission of the Fed. Overall, how is Iowa’s economy doing right now? It has been doing relatively poorly for *** long period of time. We’ve been growing more slowly than the rest of the United States. If you look at say how we’ve done coming out of the pandemic, early on, agriculture did very well. Manufacturing tied to agriculture did very well. Uh, but with, uh, tariffs, uh, and, and other weakness in the ag economy that is now reversed and the rest of the Iowa economy is also reversed, so we’ve only added about 0.5% to the number of people employed since 2019 before the pandemic, and the rest of the US has grown about 4.5% in terms of the numbers of jobs, so we’re lagging badly. Uh, relative to the rest of the United States and talking about jobs, we recently learned that John Deere is laying off nearly 150 more employees. What ripple effect does that have, you know, on not only those families in Iowa, um, but also local communities and our state’s economy as *** whole? Well, John Deere is *** very good employer. Uh, if you look at what happened coming out of the pandemic, they added. About 7 or 8 1000 jobs and demand for their products was extremely high. They’ve now actually gone all the way back to where they were in 2019 minus *** couple 1000 employees, so they’re actually smaller than they were at the start of the pandemic, and they pay relatively well for people who may have *** high school degree or an associate’s degree, and so the people who lose those jobs. Aren’t going to find another employer locally that’s going to be able to pay as well as John Deere, and so they may have to exit, meaning move to other states where manufacturing is doing better. Big picture, what should Iowans be paying attention to in the next few months when it comes to things that could change our state’s economy? Well, I think the first thing that could happen is, is *** relaxation of some of the uh increased tariffs. I think we need to have better agreements with Brazil. We had *** trade surplus with Brazil in terms of agriculture, and so the trade war with Brazil is not *** good idea. We need to think about other large markets that were very important to Iowa like China and Japan. But also Canada and Mexico and, and I think trying to reestablish the former level of trade can only be beneficial for Iowans and people who work in Iowa. Overall, on our economy’s outlook, do you see any change happening in the next few months or the next few years? Well, I mentioned that the Iowa economy has been growing more slowly than the rest of the US since about 2016, so this is not *** short-term phenomenon, but we’ve actually shrunk the Iowa economy over the last three years. Very slightly, 0.1 of *** percentage point each of the last 3 years, so it’s not even that we notice it that much, it’s just that we’re not growing, and that’s going to mean that particularly for young families if they’re thinking about moving someplace where they are going to be planning *** family and and and where they want to stay longer term, I think, I think that’s *** concern. Iowa is *** relatively old state and we came out of the pandemic and we lost *** lot of those older workers. They decided to retire and we didn’t have young people to replace them. Uh, immigration has been 38% of our population growth since 2000, and immigration was cut off during the pandemic, so we have the sort of unique. Um, *** combination of relatively slow growth and we’re still not able to fill those jobs because we don’t have the people here to fill them. So I think Iowa needs to rethink their their policy toward population growth also and whether or not we want to be *** little bit more welcoming to people so that if and when the agricultural economy turns around and and some of the other sectors that are doing relatively poorly. Uh, start picking up speed that we’ll have the workers here to to fill those fill those jobs. Trade tensions overseas are weighing on farmers here in Iowa right as they head into harvest season. *** lot of soybean farmers say the future of their operations depends on how quickly the US can strike *** deal with China. It’s not good for anybody. Cambridge farmer Doug Fuller has been farming soybeans for almost 5 decades. Right now he says the back and forth over tariffs is leaving farmers on uneven ground. His hope that We never have to talk about tariffs again. Um, free trade is, is the answer. Past president of the Iowa Soybean Association Brent Swart farms in northwest Iowa. Now how would you describe the mood right now? Well, I think, uh, cautiously optimistic. I think for the most part around the state of Iowa yields look to be above average. Swartz says that optimism is tempered by the lack of *** trade deal with China. They’re America’s number one customer but haven’t bought any US soybeans this season. The market share we lose here in the short term may never be recovered in the longer term as we continue to go down the road. And so really the trade deal is very critical, he says. The impact of Iowa soybean sales ripples far beyond the field. 86% of Iowa’s land is row crops. What happens in the economy in the state of Iowa trickles down to Main Street. It trickles down to Main Street in small town Iowa, and then it trickles down to other industries in Things across the state. Soybeans fuel Iowa’s livestock, food, and biofuels industries, giving farmers strong domestic outlets as well. But Swartz says exports are still essential. Trying to replace 60% of the market is not mathematically *** very good equation. Despite the uncertainty, both farmers say they’re hoping *** breakthrough comes soon. It’s not the end of the world yet. If we’re really honest, we need it yesterday, but, um, you know, it’s just time is of the essence. Des Moines schools are asking voters for hundreds of millions this November. Why district leaders say it’s critical and how that tax money would be spent. But first, he led Republicans to sweeping conservative victories. Now Iowa Senate majority leader is stepping down, the legacy his friends and analysts say he leaves behind in our state. Welcome back to Close Up. Family of Democratic state senator Claire Selsey shared last Thursday that she’s entered hospice care. Selsie was first elected to the state Senate in 2018. Her district covers parts of Clive, Windsor Heights, and West Des Moines. KCCI’s Bo Bowman talked with Celsie’s colleagues. The influence that she’s had on our state. Claire was deeply involved in her community because she cared very much about her community. Al Wamble is the chairman of the West Des Moines Democrats. He said his mother got him involved in the group years ago after becoming friends with the founder, Claire Salsy. My mom introduced me to her. And then Claire said to me, Well, are you involved with West Wind Democrats? Do you volunteer? I said, Well, no, no, I haven’t. She says, Well, you are now. Selsey was first elected to the Iowa Senate during the 2018 midterms. Over the last seven legislative sessions, she served on the Appropriations, education, natural resources and environment, state government committees and was the ranking member on the government oversight committee. Her colleagues say they think of her as someone who always speaks her mind. Like I said, sometimes Claire could be *** little bit spicy, um, but you know, for those of us who appreciated her, uh, standing up for, you know, working class citizens, for those of us who, uh, appreciated her standing up for the issues that affect people, um, all around the state. You know, sometimes, you know, we didn’t mind that. Wommble says he’ll remember her passion for advocacy. You know, it’s gonna take somebody who got some good fight in him to be able to replace somebody like Claire. And Senator Sali’s family did not share what has caused her to enter hospice care. They’re asking for privacy during this time. Our hearts go out to them. Well, more news out of the Iowa Senate last week, Senate Majority Leader Jack Whitford announced he’s stepping down from the role and not running for reelection in his Senate district. He explained his decision in *** statement, writing in part that his family life is busier than ever. He added, quote, I continue to battle *** brain tumor and while. Progress remains positive. I still have *** long way to go. My work in the Senate may be coming to *** close, but my commitment to making Iowa the best state in the country will always be *** part of my life. The question now is who will take first place? The decision could shape Iowa politics heading into 2026. Jack Whitford is *** fixture at the Iowa State House. Jack is one of the most significant political leaders in the history of the state of Iowa. Whitford’s longtime colleague and friend Chris Hagenau points to the goals Whitford achieved during nearly *** decade of leadership, slashing taxes and helping *** record number of Republicans get elected to the. State Senate. Jack is *** man who knows what he believes and wants to get wins. Last year, Whitford was diagnosed with *** brain tumor. He continued leading the Iowa Senate while receiving radiation and drug therapy. I still have *** long way to go before the tumor is behind me, but I will continue to battle it with everything I have. Now Whitford is stepping down as majority leader and will not run for re-election in 2026. I think Jackson takes some time off, be with his family, and I am absolutely convinced that he has *** lot more to offer to the state of Iowa in the future. Whitford’s exit leaves Republicans with *** big decision. You’ve got to try to bring some sort of coherence to your. KCC political analyst Dennis Goldford says the next leader will need to unite the caucus. Senate Republicans left last session deeply divided over the issue of eminent domain and property rights, with Republicans sparring publicly on the Iowa Senate floor. You’ve got all sorts of people. They have some unity with regard to certain issues, but otherwise many of them have their own agendas. So it’s sort of worst case it’s sort of like herding cats. The challenge comes as Iowa Republicans face *** wave of turnover from the governor’s office to the US Senate. The next majority leader will work with Kim Reynolds on her last policy agenda as governor, and they’ll be tasked with expanding Republican control in the 2026 election. We’re certainly in the fast lane for 2026. It will be *** very interesting time for those who are political observers and political participants. Reimagining education on the ballot. Why Des Moines school leaders say every cent from that $265 million decision is necessary, and it’s not just Des Moines districts across the metro are asking voters for help this fall. We’ll break down what’s on the ballot and where your money would go. Welcome back to Close Up. Des Moines Public Schools $265 million bond referendum is one step closer to becoming *** reality. The school board voted unanimously to send it to voters this November. KCCI’s Abigail Curtin shows us why district leaders are asking taxpayers to approve one of the largest bond referendums in state history. We appreciate you and your bold leadership and getting there out in this community and getting this done. After months of planning and campaigning, district leaders for Des Moines Public Schools say they got *** big win for their reimagining education plan. The vote is approved 7 to 0. The district is now leaving it up to voters to approve *** $265 million bond referendum, *** general obligation bond in the November ballot, and Superintendent Doctor Ian Roberts is confident it will survive the final hurdle in the coming months. There is no thought in our minds that this is going to go to November’s vote and not passed. Despite totaling just over half of the originally proposed 500 million, the updated bond will be used to update school buildings, expand access to preschool, and offer improved career and technical curriculum for students. But it does come with an increased cost to homeowners in the district. Dr. Roberts says it’ll cost the average family an extra $200 *** year on their property taxes, but that it’s necessary to keep the district competitive amid declining enrollment and families opting to take advantage of school choice vouchers. This bond is more than just about education. It’s about *** thrive in Des Moines and ultimately *** thrive in central Iowa, Abigail Curtin, KCCI 8 News, Iowa’s news leader. I’m joined now by Chief investigative reporter Suzanne Banky who has been tracking all of this, and Suzanne, *** lot of central Iowa voters are going to see bond referendums on the ballot. It’s not just Des Moines, you know, it includes Ankeny, uh, Dallas Center Grimes, Des Moines, Southeast Polk, and West Des Moines school districts, *** lot of school districts there, uh, Suzanne, how unusual are these asks? Let’s put the numbers all together. $669 million is on 5 different ballots right for those 5 different school districts in the last 25 years. I don’t think we’ve seen that anything approaching that number go onto *** ballot in November related to school bond referendums, so *** lot of money, *** lot of money, uh, I know that there has been some school funding fights. In the legislature over the past few years, you know, Republicans say they’re allocating the most amount of their budget to public school funding and allocating more each year. Opponents of some of the increases that they’ve approved to say said the increases don’t keep up with inflation and schools have said we’re gonna have to look to other places to fund some of these how related is the asks, the big asks to, you know, not getting maybe what they wanted from state lawmakers. Uh, I think it’s *** real problem. I think they’re trying to address, uh, being ready for future generations, and *** lot of the districts around here have some older facilities. Des Moines in particular comes right up to mind. But West Des Moines also has some facilities that are older and need need some attention, and construction costs aren’t going down. So this is one time funding. That’s what you’ll see in most of the literature with any of these ballots. Uh, issues is they’re saying this is one *** one time ask to really move the district forward and provide *** learning environment that meets the needs of 21st century education. I think we were just there seeing what was on the West Des Moines uh bond referendum, which you know is is no small ask, you know, it’s *** big it’s *** lot of money. So what would that money be going towards, uh, you know, let’s consider West Des Moines West Des Moines is. Just West Des Moines students, they also have students coming from Clive Urbandale, and those that those dollars would go primarily towards facilities, but one thing I’ll point out is there’s an extracurricular and athletic activity facility that’s part of that plan that’s has *** $35 million price tag on it. So that’s *** lot. That’s *** big chunk of that $130 or $135 million issue. Uh, people who live in the Ankeny school district also going to have *** bond referendum on the ballot. What would that go towards? Uh, again, facilities, those, those bond referendums really are about bricks and mortar in most cases. And so Ankeny is still growing. I mean, we remember 20 years ago when it was sky, the enrollment was skyrocketing, but it is still growing, so they have needs that need to be met and again. We’re seeing some athletic and extracurricular activity facilities as *** part of that. It’s not just classrooms. Dallas Center Grimes, another district that’s going to see *** bond referendum, tell me about their plans again, their plans really focus on, uh, facilities, uh, I believe transportation is another part of that maybe not purchasing buses, but. Some things related to that, um, again, ***, *** district that has huge growth in their population base and in enrollment, so the elementaries especially seem to be growing so I think some of those dollars would go to making sure that they have the space that they need now *** different type of district, Des Moines, obviously the largest district right in our. but their enrollment is not quite the same where it’s going up like some of these other districts. No, in fact, Des Moines has actually been creeping downward for for quite *** while and uh I don’t know that we expect that trend to change maybe but it’s the largest school district. It has 70 some buildings. *** lot of them are, are older and need, you know, Doctor Roberts has always said we need to provide. Education for the future and his plan the the plan uh is very bold right talking about signature schools expanding access to child care and preschool. So in some ways it’s also talking about some big issues that our workforce issues, child care being one of them, so lots of lots of details in there. Right, and we’ll continue covering that one because they’re just there’s too much to get to in just *** few minutes, but I also wanted to touch on Southeast Polk as well. They also have *** bond referendum. What’s in there? They do, uh, actually last night they just, uh, Wednesday night they had their school board meeting where they accepted the number of signatures needed to get that bond referendum on the November 4th ballot. And Southeast Polk, they need some they need some attention in elementary. They they say that too, and I believe updating some playground equipment, you know, it’s not just all desks and classrooms and infrastructure. Sometimes this is just for some of those spaces where kids need to. Be social with each other and be get some physical activity. Well, Suzanne, thank you so much for joining us this morning and breaking it all down. We appreciate it. Thanks for having me, Amanda. Well, close up, we’ll be right back after this break. Stay with us. *** former Iowa congressman wants voters to send him back to Capitol Hill. Republican Rod Blum announced he’s running for Iowa’s 2nd congressional district that covers northeast Iowa. Since incumbent Ashley Henson is not running for re-election, this is now ***. Wide open race and it is already getting crowded. Blum joins former state Representative Joe Mitchell and state senator Charlie McClintock in the Republican primary race. Four Democrats are running for their party’s nomination Kathy Dalter, Lindsay James, Don Primus, and Clint Tweedball. Thanks for joining us for KCCI 8 News close up. We’ll see you back here next Sunday. Have *** great day.
Close Up: Iowa farmers face uncertain harvest with China not buying; change in state’s political leadership
Updated: 12:01 PM CDT Sep 21, 2025
On this week’s Close Up, KCCI chief political reporter Amanda Rooker sits down with Iowa State University economics professor Peter Orazem to talk about the Federal Reserve’s recent rate cut. We also look at a big change in leadership at the Iowa Statehouse, and talk to Iowa farmers facing an uncertain harvest season with China not buying soybeans.Watch the full show in the video above.» Subscribe to KCCI’s YouTube page» Download the free KCCI app to get updates on the go: Apple | Google Play
On this week’s Close Up, KCCI chief political reporter Amanda Rooker sits down with Iowa State University economics professor Peter Orazem to talk about the Federal Reserve’s recent rate cut.
We also look at a big change in leadership at the Iowa Statehouse, and talk to Iowa farmers facing an uncertain harvest season with China not buying soybeans.
Watch the full show in the video above.
» Subscribe to KCCI’s YouTube page
» Download the free KCCI app to get updates on the go: Apple | Google Play