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FEATURED INDUSTRY NEWSInnovation Award Winners Honored Today During The Discover Boating Miami International Boat ShowThis 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 Boating® Miami International Boat Show®. 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 AwardsThe 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 Boating® Miami International Boat Show®. Read More Dave Livingston, Fluid Motion Co-Owner, Honored With 2024 Charles Chapman AwardToday, 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 AwardToday, 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 Boating® Miami International Boat Show®. Read More LEADING ECONOMIC AND POLICY NEWSHot CPI Report Forces Investors To Rethink “Soft Landing” ProspectsThe 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 “poured cold water on the belief among many investors that the U.S. economy will achieve a ‘soft landing.’” 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 “have underscored the stickiness of inflation and pushed back expectations for interest rate reductions in 2024, jeopardising hopes for a successful soft landing.” Traders now forecast “overnight 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.” Federal Reserve Bank Of Chicago President: Inflation Need Not Fall To 2% Before Rate Cuts CommenceBloomberg reports that on Wednesday, Federal Reserve Bank of Chicago President Austan Goolsbee “said slightly higher inflation data for a few months would still be consistent with a path back to the central bank’s 2% goal. ‘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.” Goolsbee added, “More data like we have seen in the past six months would indicate that path, but that’s probably too stringent.” Stocks Recoup Much Of Tuesday’s LossesCNBC reports that stocks “rose Wednesday as Wall Street clawed back some of the steep losses suffered in the previous session.” The S&P 500 “advanced 0.96% to finish at 5,000.62, while the Nasdaq Composite climbed 1.3% to settle at 15,859.15.” The Dow Jones Industrial Average “added 151.52 points, or 0.4%, closing at 38,424.27.” CNBC notes that on Tuesday, the Dow “lost 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.” Previous Top Stories | |||||||||||
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