Thursday’s business headlines

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

Fed Reserve pauses interest rate hikes

After 15 months of interest rate hikes, the Federal Reserve took a pause. Inflation has fallen significantly from a peak last summer.

The higher rates have led to higher credit card rates but have also slowed down inflation.

Mortgage applications jump

Mortgage applications are jumping as borrowing rates ease. Applications to refinance are still 41% lower than they were a year ago.

Mortgage rates have been hovering around 7% this year.

Gas prices have dropped $1.50 since last June

Gas prices have fallen $1.50 since the record high last June, and experts say they could keep falling.

Oil prices have fallen 7 to 10% this year and that could lead to even lower prices at the pump.

Study: Limiting social media use boosts mental health

A two week experiment involving 230 college students found that those who limited their social media usage to 30 minutes a day, aided by automated reminders, experienced significantly less anxiety, depression, and loneliness.

The Iowa State University study also found study found that striving to reduce social media usage, even if occasionally exceeding the limit, still yielded positive mental health benefits.

Snoop Dogg partners with Petco

Snoop Dogg plays is playing the human version of a Doberman Pinscher and giving his Petco picks for treats, toys, and beds.

The ad is part of the company’s, “It’s what we’d want if we were pets” campaign, which has featured similar ads with actors playing what they imagine their dog might say if they were human.

Snoop Dogg also has his own pet line, “Snoop Doggie Doggs.”