Tuesday’s business headlines with Jane King
INDIANAPOLIS (WISH) — Here’s a look at Tuesday’s business headlines with Jane King.
FED reserve chair to testify before Congress today
Federal Reserve Chairman Jerome Powell appears before Congress today and tomorrow as part of semiannual testimony on monetary policy.
The FED has been on an interest rate hiking campaign to try to halt inflation.
The trouble is, rising interest rates also slow down the economy.
Powell will take questions today on how he plans to raise rates without send the economy into a recession.
JetBlue-Spirit Merger likely to be rejected
It’s widely expected the proposed JetBlue-Spirit merger will be rejected.
The Justice Department believes the elimination of spirit would increase ticket prices and decrease options for travelers, according to Bloomberg.
JetBlue is trying to take over Spirit in a $3.8 billion dollar deal.
Verizon raising prices on older cell phone plans
Verizon is raising the prices on some of its older cell phone plans.
The move is part of a broader effort to get more of its customer base on 5G plans.
Customers who decide to stay on one of Verizon’s older unlimited plans will be charged an additional $2 a month. The change will take effect on April 10.
Natural gas futures plunged 15%
Natural gas futures plunged by about 15% on Monday – its biggest one-day drop in over eight months.
Forecasts for much less cold weather and heating demand than previously expected over the next two weeks.
Moderate winter weather has kept natural gas and heating prices lower than normal.
Millennials most likely to have more credit card debt than emergency savings
Millennials are the most likely generation to have more credit card debt than emergency savings, according to Bankrate.
About 45% of millennials and 44% of gen-xers report owing more on their credit cards than the amount of money they have saved up for potential emergencies.