Ensure Your Brand is Listed In Discover Boating's Boat Finder For 2024 Shows.

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Shows Certification Advocacy Statistics International Membership Customized Briefing for manoj dole December 19, 2023

FEATURED INDUSTRY NEWS Ensure Your Brand is Listed In Discover Boating’s Boat Finder For 2024 Shows Now is the time to get your brands listed among competitors in Discover Boating’s Boat Finder ahead of the 2024 boat show season—putting your boats in front of potential buyers before, during and after the show. Boat information should be uploaded into Boat Finder by Friday, Dec. 1st as 2024 show marketing begins. Read More LEADING ECONOMIC AND POLICY NEWS Chicago Federal Reserve President Pushes Back On Rate-Cut Expectations CNBC reports that on Monday, Chicago Federal Reserve President Austan Goolsbee “said that the market may have misunderstood the central bank’s intended message last week after stocks and bonds rallied sharply. ... ‘It’s not what you say, or what the chair says. It’s what did they hear, and what did they want to hear’...Goolsbee said on CNBC’s ‘Squawk Box.’” Goolsbee added, “I was confused a bit – was the market just imputing, here’s what we want them to be saying?” CNBC says Goolsbee “pushed back against the idea that the Fed is actively planning on a series of rate cuts. ... ‘The market expectation of the number of rate cuts is greater than what the SEP projection is,’ Goolsbee said.” Reuters has more on Goolsbee’s comments.         However, the Wall Street Journal reports Mary Daly, President of the Federal Reserve Bank of San Francisco said in an interview that it is appropriate for the Fed to look at lowering interest rates in 2024 due to the improvements inflation has seen this year. If inflation continues to decline as it has in recent months, Daly added the benchmark interest rate “will still be quite restrictive even if we [cut rates] three times next year.” Daly said she is watching the impact that policy has on the labor market. She also said, “We have to be forward looking and make sure that we don’t give people price stability but take away jobs.” Biden Administration Says New Merger Guidelines Will Help Lower Costs For Consumers In what The Hill describes as the Administration’s “latest rhetorical salvo against market concentration” The Justice Department and FTC on Monday released “new merger guidelines, as American households are still feeling the squeeze of elevated inflation.” The new rules “focus on the anticompetitive behaviors of companies on pricing, the hiring of new employees, and the risk posed by monopolies on digital platforms, such as those maintained by giant tech companies like Google, Facebook, Amazon and Apple.” The guidelines “are not legally binding but are meant to provide insight into how the agencies administer antitrust law.” NEC Director Lael Brainard said in a statement, “Today’s release...is an important step to lower costs for consumers, ensure a level playing field for small businesses, and ensure antitrust enforcement is fit for purpose in today’s economy. ... For too long, unchecked consolidation has meant big corporations getting bigger, giving them the power to raise prices for Americans and provide consumers with fewer options.”         Bloomberg reports that the 11 new guidelines “are designed to thwart companies seeking to dominate their industries by buying up rivals. They largely mirror a proposal issued in July, though the final version didn’t include a proposed guideline related to so-called vertical deals – those between companies that aren’t direct competitors but operate in the same supply chain.” Bloomberg says under President Biden, “the US has doubled down on efforts to block more mergers after decades of a light-touch approach by government.”         Bloomberg Report: Biden’s FTC And DOJ Set Record For Antitrust Enforcement Actions Bloomberg says the Administration has “set a new record for merger enforcement activity, according to newly released data obtained by Bloomberg. In an annual report to Congress set to be released this week, the US Federal Trade Commission said it brought 24 enforcement actions, while the Justice Department’s antitrust division brought 26 in the fiscal year ending Sept. 30, 2022, the most recent period for which that data is public.” Bloomberg says “the total number of challenges is the highest since the US began requiring pre-merger antitrust review in 1976.” Bloomberg goes on to report that FTC Chair Lina Khan and Justice Department antitrust chief Jonathan Kanter “had both promised more aggressive antitrust enforcement when they took office in 2021, saying increased concentration of corporate power had limited consumer choices and contributed to higher prices.” New York Fed Report: Employers Offered Record Average Wages In November Reuters reports according to a report from the New York Federal Reserve, the “average wage U.S. employers were willing to offer new workers surged to record levels in November.” The New York Fed said in its survey of consumer Expectations Labor Market survey that “the average full-time annual wage offer moved to $79,160 in November from $69,475 in July.” the November wage “was the highest ever in a survey that dates back to 2014 and likely reflects ongoing labor market tightness, with firms being forced to come up with higher levels of cash to secure employees.” The survey also found that workers “trimmed their so-called reservation wage, which is the minimum pay level someone will take for a new job. That dropped to $73,391 as of last month, from $78,645 in July.” S&P 500 Closes Up Again, Now Just 1.2% From All-Time High CNBC reports that the S&P 500 “rose Monday as the market maintained the momentum seen during its seven-week winning streak.” The S&P 500 “climbed 0.45% to 4,740.56,” and the Nasdaq Composite “advanced 0.61% to 14,904.81.” CNBC notes that the S&P 500 is “now 1.2% away from its all-time closing high at 4,796.56 that was reached in January 2022.” Previous Top Stories  • Judges Announced For 2024 Discover Boating Minneapolis Boat Show Innovation Awards  • Federal Reserve Says Manufacturing Output Rose Slightly In November

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