The interest hike through the eyes of a cattle rancher

We talk to a cattle rancher named Ken Lenox every now and again. He’s got about 18,000 acres out in Rolla, Missouri, land that’s been in his family for five generations. He’s been working it since he came back from the Marine Corps in 1965.  Usually we ask him about how the herd’s doing or what the weather’s like. But he’s been around for a while he’s seen a lot of stuff, so we called him up the the other day to ask him what he thinks about the Fed and interest rates.