Fed’s George Says Unclear How High Rates Must Go To Bring Down; Says Moving Rates Too Quickly Raises Oversteering Prospects; Says Mindful Of Rate-Change Speed Effects On Economy, Markets; Says Pace Of Rate Hikes Could Affect Balance-Sheet Runoff

A federal judge has blocked the acquisition of Spirit Airlines, Inc. (NYSE:SAVE) by JetBlue Airways Corporation (NASDAQ:JBLU) in a victory for the Justice Department which fought aggressively to block the deal, saying that the deal would raise the cost of airfare and reduce the number of flights available. Shares of Spirit Airlines tumbled following the court's decision.