PIERRE, S.D. (KELO) – Higher interest rates from the Federal Reserve Board is putting the brakes on the rural economy.

Creighton University’s Rural Mainstreet Index surveys small community bankers in our ten-state region.

Economist Ernie Goss says nearly 85-percent of the bankers are urging the Fed to hold rates steady…

Bankers are also concerned about statements by Treasury Secretary Janet Yellen, who wants to see many of the small banks gobbled up by larger regional banks.

Goss says that would hurt the farm community that relies on the close relationships they have with the community banks.