The Federal Reserve has raised short term interest rates three times this year, and signaled there will be more hikes next year.

Curt Everson, President of the South Dakota Bankers Association, says the Fed is doing exactly what it is supposed to do….

Everson says while the economy is expanding, there will come a time when the Fed will need tools to handle a falling economy…

Everson says it is easier to adjust to a series of small increases rather than deal with a sharp upward jolt…

While the hikes mean interest rates on home mortgages and car loans go up, it also means the rate of return for savers will also go up.