PIERRE, S.D.(WNAX)- The Federal Reserve Board indicated this week that they are prepared to begin raising interest rates, possibly at their March meeting.

South Dakota Bankers Association President Karl Adam says the Fed has been talking about raising rates for some time.

Adam says the central bank is reacting to inflation and other economic indicators.

Adam says after two plus years of federal stimulus spending, banks are “flush with cash” and ready to make investments.