Discover Boating Atlantic City Boat Show Opens Today

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FEATURED INDUSTRY NEWS Discover Boating Atlantic City Boat Show Opens Today The 2024 Discover Boating Atlantic City Boat Show®, in partnership with Progressive Insurance®, opens today and runs through Sunday at the Atlantic City Convention Center. The sold-out exhibit hall will showcase more than 450 new boats and more brands for consumers to shop. Read More Federal Trade Commission Finalizes Government And Business Impersonation Rule On February 15th, the Federal Trade Commission (FTC) finalized its Government and Business Impersonation Rule, which gives the agency more tools to combat scammers who impersonate businesses or government agencies. The National Marine Manufacturers Association, Marine Retailers Association of the Americas, and the Recreational Vehicle Dealers Association, submitted a comment to the FTC on December 16th, 2022, supporting the rule and outlining instances of this fraud in the marine and recreational vehicle space. Read More LEADING ECONOMIC AND POLICY NEWS After Meeting With President, Congressional Leaders Express Optimism For Averting Government Shutdown But Distance Remains On Foreign Aid USA Today reports President Biden on Tuesday “summoned the top four congressional leaders to the White House to discuss efforts to avert a partial government shutdown and pass what the president has described as desperately needed foreign aid to key U.S. allies,” and Senate Majority Leader Schumer and House Speaker Johnson later “said that they agreed they did not want a government shutdown and that it would be possible to avoid one.” The AP says Schumer and Johnson left the meeting “speaking optimistically about the prospects for avoiding a partial government shutdown,” while Reuters reports Biden “said he believed a solution could be reached on funding the government by a Friday deadline to avoid a partial government shutdown, which he said would be damaging to the U.S. economy,”         The New York Times says Senate Minority Leader McConnell “gave a similarly upbeat assessment” on the prospect of avoiding a government shutdown. However, the Times says it “was not clear whether the progress would yield an agreement before midnight on Friday, when government funding for several agencies is slated to lapse, with money for the remainder of federal agencies on track to run out on March 8.” The Times explains Johnson has been “under pressure from hard-right Republicans” to oppose any bill that “does not include some of his party’s hard-line policy conditions, such as reversing a federal rule that aims to broaden access to abortion medication or a policy that could make it harder for some veterans deemed mentally ill to purchase guns.” According to the Times, “Ultraconservatives have brought the government to the brink of a shutdown or a partial shutdown three times in the past six months as they have sought more spending cuts and conservative policy conditions written into how federal money is spent.” In another article, the New York Times says Republicans have been “insisting on right-wing policy dictates” despite “failing in their efforts to slash federal funding.”         However, the Washington Post reports that while Biden and congressional leaders “appear[ed] to be closing in on a deal that could keep the government open,” they did not “seem any closer on a breakthrough to send more U.S. aid to Ukraine, even as supplies on the front lines of the war against Russian invaders dwindle.” This assessment was echoed by Bloomberg, which says they “remain far apart on approving billions of dollars for Ukraine, Israel and the US-Mexico border, with Schumer describing the discussion as ‘one of the most intense I’ve ever encountered.’”         Politico reports while Schumer said Johnson “made ‘unequivocally’ clear that he wants to avoid a government shutdown,” Johnson also “reiterated that his chief focus is border security – despite rejecting a bipartisan Senate bill on the matter just weeks ago – a stance that further complicates the future of a Senate-passed, $95 billion foreign aid bill.” Roll Call reports Johnson “said that he met separately with the president in the Oval Office after the larger meeting,” and “said he pressed Biden to take executive action on immigration and border security.”         CNN, The Hill, Reuters, the AP, Roll Call, the Wall Street Journal, the New York Times and other sources also cover the story. Federal Reserve Governor: Too Soon For Rate Cuts Bloomberg reports Federal Reserve Governor Michelle Bowman on Tuesday “repeated her expectation that inflation will continue to decline further with interest rates held at their current level, but said it’s too soon to begin rate cuts.” Bowman explained, “Should the incoming data continue to indicate that inflation is moving sustainably toward our 2% goal, it will eventually become appropriate to gradually lower our policy rate to prevent monetary policy from becoming overly restrictive.” The economy is “not yet at that point,” Bowman said, adding that she is “willing to raise the federal funds rate at a future meeting should the incoming data indicate that progress on inflation has stalled or reversed.” Major Stock Indices Little Changed As Investors Await Inflation Data CNBC reports that the S&P 500 and the Nasdaq Composite “ended Tuesday’s session with modest gains as investors prepared for key inflation data to be released later this week. The S&P 500 inched up 0.17% to 5,078.18. The Nasdaq added 0.37% to end at 16,035.30. The Dow Jones Industrial Average fell 96.82 points, or 0.25%, to close at 38,972.41.” Previous Top Stories  • Registration Open For The 2024 American Boating Congress In Washington, D.C., May 8-10  • Study Suggests Federal Reserve Rate Hikes Weighing On Consumer Sentiment

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