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Friday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines with Jane King.

$99m coming for Indiana small businesses

Indiana will receive an additional $99 million in federal American Rescue Plan funds to invest in new and existing small businesses over the next 10 years.

Indiana Secretary of Commerce Brad Chambers says the money will inject critical funding and resources into our ecosystem of current and future entrepreneurs, startups, and small businesses who are solving global challenges and creating new technologies.

Fed Chair Jerome Powell gives economic update Friday

Jerome Powell will give an update Friday on the economic outlook that could detail how the central bank is thinking about inflation and the path ahead for interest rates.

Investors will grasp for any hint at what might come next for the Fed, which has been raising interest rates rapidly to fight inflation.

IRS to hire more customer service reps

The IRS will start spending some of its $80 billion budget by hiring people to answer the phone.

The agency says beefed-up enforcement will take time; so for now, the IRS will use the money to hire customer-service representatives.

Construction costs could increase 14% this year

Construction costs may escalate 14 % this year, but relief is expected soon.

Since the onset of the pandemic, record-high construction costs and delays have plagued the development and homebuilding industries, and while pricing has recently started to moderate, analysts say relief likely won’t be felt until next year.

Oscar Mayer releases hot dog-flavored popsicle

Oscar Mayer’s latest treat is a hot dog-flavored popsicle.

The idea stems from a social media campaign that received thousands of likes.

It’s called the “Cold Dog” and it’s available at popbar locations in Long Beach, Atlanta, New Orleans, and New York City.