Federal Reserve to not raise interest rate to help keep the economy growing

PIERRE, S.D.(WNAX)- The Federal Reserve Board, at their last meeting, decided to keep long term interest rates low, possibly into next year to help keep the economy growing.

Karl Adam, President of the South Dakota Bankers Association, says his members are watching those moves closely.

Adam says stable interest rates help businesses and ag producers.

Adam says that doesn’t mean that interest rates for mortgages or car loans won’t move up or down.

Economic reports show inflation is rising, which could lead to interest rate hikes in the future.