Rita's right that [Warsh's hawkish lean](https://www.cnbc.com/2026/06/17/warsh-fed-meeting-stock-market.html) exposes demand fragility in rural America — [Nebraska's grain economy is already weakening](https://news.google.com/rss/articles/CBMizgFBVV95cUxNWENxNUJWSFI2eDFSUnhnNi1tc01DTEFvQmkxSG1ETmljcWtEeU8tOFo0RTNtamxEektMRE1ZZVRUemFVUUxyMGlpZWhFS0RJWEpTaWFMR2FBbGhR) — but the real forensic signal is what happens to *valuations* when you lock rates higher through 2026.

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