Thursday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Monday’s business headlines with Jane King.
Bill would allow alcohol customers to scan palms instead of showing ID
Proposed legislation in New York and Washington would allow customers to scan their palms, fingers, faces, or retinas, instead of handing over a driver’s license to buy alcohol.
The technology is more accurate than relying on human judgment, but many remain concerned about the privacy implications and racial discrimination.
Average person impulsively spends $151 per month
“Impulse buying” is down in 2023 as more shoppers are looking to make “wiser” purchases.
The average person is only spending $151 impulsively per month, which is down from previous years $314 in 2022, $276 in 2021 and $183 in 2020.
Several major brands raising prices in Q2
Coca Cola, PepsiCo, and Unilever have each reported raising prices significantly in the second quarter.
Unlike other goods, food is something that consumers cannot stop buying, and food prices are particularly sensitive to external factors like supply shocks, ingredient prices and geopolitics.
Bill aims to help low-income Americans with disabilities
Americans with disabilities are twice as likely to live in poverty, and have a hard time saving money.
A new proposal on Capitol Hill aims to help lower income disabled individuals save by providing a federal match in their able accounts.
The investments grow tax-deferred.
Federal Reserve raises interest rates again
The Federal Reserve raised the interest rates to the highest it’s been in 22 years.
The board indicated perhaps one more rate hike this year as it continues to tackle inflation.
The higher fed rates impact short term debt like credit cards and car loans.