Inflation, economic indicators pointing toward recession

Rising inflation and slowing economic activity may be signaling some negativity ahead.

South Dakota Bankers Association President Karl Adam says indicators are leaning toward a recession.

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 (June 2022) and may make a similar move next month (July 2022).

(News partner WNAX contributed this story.)