NMMA Participates In Arkansas Outdoor Economy Summit

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FEATURED INDUSTRY NEWS NMMA Participates In Arkansas Outdoor Economy Summit Last week, NMMA participated in the Arkansas Outdoor Economy Summit to discuss the state’s investment in and growth of outdoor recreation. NMMA also joined a panel discussion to highlight manufacturing in Arkansas and recreational boating’s economic impact throughout the state. Read More LEADING ECONOMIC AND POLICY NEWS Federal Reserve Set To Leave Rates Unchanged The AP reports, “With inflation edging closer to the Federal Reserve’s 2% target, its policymakers are facing – and in some cases fueling – hopes that they will make a decisive shift in policy and cut interest rates next year, possibly as soon as spring.” The AP says, “Such a move would reduce borrowing costs across the economy, making mortgages, auto loans and business borrowing less expensive.” However, Fed Chair Jerome Powell, has “recently downplayed the idea that rate reductions are nearing. With the central bank poised to keep its key short-term rate unchanged when it meets this week, Powell hasn’t yet signaled that the Fed is conclusively done with its hikes.”         The Wall Street Journal reports Goldman Sachs economists have forecast that the Federal Reserve’s first interest rate cuts will likely come in the third quarter of 2024. However, market expectations as measured by fed-fund futures price for an initial cut to be made in May. Goldman’s economists say that improving inflation data could allow for monetary easing to begin sooner than expected, though labor costs are likely to remain a stumbling block.         Also covering the topic are MarketWatch and Bloomberg Opinion. Consumers’ Near-Term Inflation Expectations Fall To Lowest Level Since April 2021 Bloomberg reports that according to a Federal Reserve Bank of New York survey released Monday, “consumers’ near-term inflation expectations dropped in November to the lowest level since April 2021. ... Median year-ahead inflation expectations declined for a second month to 3.4%, down from 3.6% in October. Expectations for what inflation will be at the three-year and five-year horizon held steady at 3% and 2.7%, respectively.” Bloomberg says the decline “reflected a number of factors. The expected price changes for gasoline slipped, and those for both rent and a college education fell to the lowest since January 2021. Inflation views among those over age 60 retreated to a nearly three-year low.” Major Stock Indices Close Higher Again Ahead Of Fed Meeting CNBC reports that the S&P 500 “climbed on Monday as investors tried to continue Wall Street’s year-end momentum. The broad market index gained 0.39% to close at 4,622.44, while the Nasdaq Composite added 0.20% to 14,432.49.” The Dow Jones Industrial Average “advanced 157.06 points, or 0.43%, to finish the session at 36,404.93.” CNBC notes that the S&P 500 and Nasdaq are “coming off their sixth straight weekly gain.” Previous Top Stories  • Entries For The 2024 Minneapolis Innovation Awards Due Dec. 13  • As Supply-Chain Woes Recede, Some Prices Coming Down

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