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Innovation Award Winners Honored Today During The Discover Boating Miami International Boat Show

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Customized Briefing for manoj dole February 15, 2024

FEATURED INDUSTRY NEWS

Innovation Award Winners Honored Today During The Discover Boating Miami International Boat Show

This morning, the NMMA and Boating Writers International (BWI) honored 13 recipients and two honorable mentions with the 2024 Miami Innovation Awards during the Industry Breakfast at the Discover BoatingĀ® Miami International Boat ShowĀ®. The Miami Innovation Awards recognize manufacturers and suppliers who bring new, innovative products to market. Read More

62 Boat And Engine Manufacturers Recognized With Marine Industry Customer Satisfaction Index Awards

The NMMA announced today 62 recipients of the 2023 Marine Industry Customer Satisfaction Index (CSI) Awards for excellence in customer satisfaction. Award recipients were recognized this morning during the Industry Breakfast at the Discover BoatingĀ® Miami International Boat ShowĀ®. Read More

Dave Livingston, Fluid Motion Co-Owner, Honored With 2024 Charles Chapman Award

Today, the NMMA honored Dave Livingston, co-owner and head of design and product development of Fluid Motion, with the 2024 Charles Chapman Award. The Chapman Award recognizes individuals or groups within the marine industry who have made outstanding contributions to the sport of boating for the benefit of the recreational boating industry and boating public. Read More

Michele J. Goldsmith, VP Of Soundings Trade Only Group, Honored With NMMA’s 2024 Alan J. Freedman Award

Today, the NMMA honored Michele J. Goldsmith, Vice President and General Manager of the Soundings Trade Only Group, with the 2024 Alan J. Freedman Memorial Leadership Award, which recognizes individuals who’ve made outstanding contributions to the marine accessories industry through leadership, creativity and personal motivation. The award was presented during the Industry Breakfast at the Discover BoatingĀ® Miami International Boat ShowĀ®. Read More

LEADING ECONOMIC AND POLICY NEWS

Hot CPI Report Forces Investors To Rethink ā€œSoft Landingā€ Prospects

The New York Times reports Tuesday’s hotter-than-expected inflation report led to a sharp discount in the odds of an imminent cut to interest rates and ā€œpoured cold water on the belief among many investors that the U.S. economy will achieve a ā€˜soft landing.ā€™ā€ The futures market on Wednesday is pricing for three to four rate cuts this year, down from the six to seven projected at the start of the year. Reuters reports persistent price increases in the US service sector ā€œhave underscored the stickiness of inflation and pushed back expectations for interest rate reductions in 2024, jeopardising hopes for a successful soft landing.ā€ Traders now forecast ā€œovernight interest rates to decline by 75 basis points before the end of the year, with the first cut not until May or probably June, after prices rose faster than expected in data published on February 13.ā€

Federal Reserve Bank Of Chicago President: Inflation Need Not Fall To 2% Before Rate Cuts Commence

Bloomberg reports that on Wednesday, Federal Reserve Bank of Chicago President Austan Goolsbee ā€œsaid slightly higher inflation data for a few months would still be consistent with a path back to the central bank’s 2% goal. ā€˜Rate cuts should be tied to confidence in being on a path toward the target,’ Goolsbee said in prepared remarks at the Council on Foreign Relations in New York.ā€ Goolsbee added, ā€œMore data like we have seen in the past six months would indicate that path, but that’s probably too stringent.ā€

Stocks Recoup Much Of Tuesday’s Losses

CNBC reports that stocks ā€œrose Wednesday as Wall Street clawed back some of the steep losses suffered in the previous session.ā€ The S&P 500 ā€œadvanced 0.96% to finish at 5,000.62, while the Nasdaq Composite climbed 1.3% to settle at 15,859.15.ā€ The Dow Jones Industrial Average ā€œadded 151.52 points, or 0.4%, closing at 38,424.27.ā€ CNBC notes that on Tuesday, the Dow ā€œlost more than 1% for its worst day since March 2023. The S&P 500 and Nasdaq Composite also slumped more than 1%. A hotter-than-anticipated inflation reading early in the morning incited the sell-off as traders fretted that the Federal Reserve may not cut interest rates as early as they had hoped.ā€

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