PIERRE, S.D.(WNAX)- Rising inflation and slowing economic activity may point the way towards a recession.

South Dakota Bankers Association President Karl Adam says indicators are leaning in that direction.

Adam, a member of the state Council of Economic Advisors, says Congress may be thinking of some major changes.

Adam says it may take some time to slow down rapid inflation.

The Federal Reserve raised interest rates three quarters of a point this month and may make a similar move next month.