NMMA 2024 Certification Reminders And SAE Standards Updates

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Shows Certification Advocacy Statistics International Membership Customized Briefing for manoj dole February 12, 2024

FEATURED INDUSTRY NEWS NMMA 2024 Certification Reminders And SAE Standards Updates As the leading certification body for the recreational boating industry in the U. S., NMMA Certification impacts the recreational marine industry worldwide, helping to improve boat manufacturing and ensuring safe, high-quality products for consumers throughout the world. The NMMA Engineering team is dedicated to product safety and supporting our members as they work towards achieving certification. Read More LEADING ECONOMIC AND POLICY NEWS Revised CPI Data Show Inflation Rose Less Than Reported For December Reuters reported Labor Department data released on Friday show that “U.S. monthly consumer prices rose less than initially thought in December,” with the CPI rising 0.2% rather than 0.3%, “but the overall inflation revisions were mixed, and did not shift expectations on the timing of an anticipated interest rate cut from the Federal Reserve this year.” The figures “also showed the consumer price index increasing slightly more than previously reported in October and November,” although “prices excluding the volatile food and energy components were unrevised, after rounding, from October through December,” and “all told, the revisions did not materially alter the path of inflation, which is moderating after surging in 2022.”         However, Bloomberg noted that the index “continued to draw relatively weak response rates in 2023, calling into question the accuracy of the widely watched US inflation data,” with the 71% “share of completed surveys” in 2023 remaining “well below the pre-pandemic trend of near 80%.” The Bureau of Labor Statistics “had to adjust its collection methods when the pandemic hit, converting to phone, email and online surveys that had previously been done in person,” and “response rates for a broad range of data have struggled to rebound, leading economists to wonder whether the figures can be trusted.” Dallas Federal Reserve President Indicates Cautious Stance On Cutting Rates Reuters reported Dallas Federal Reserve Bank President Lorie Logan at the Tarrant Transportation Summit on Friday “said she is in no rush to cut interest rates, and while there has been ‘tremendous progress’ on bringing down inflation, she wants more data to confirm the progress is durable.” Logan “said she supported the Fed’s decision last month to leave the policy rate on hold in the 5.25%-5.5% range, even as Fed Chair Jerome Powell signaled that rate cuts are likely later this year,” adding, “I’m really not seeing any urgency to make any additional adjustments at this time.” According to Bloomberg, Logan “said that while growth remains robust and the labor market tight – though loosening – she’s watching for risks to the economic outlook,” such as “geopolitical tensions that could disrupt supply chains and reignite inflation pressures.” The policymaker further “said the unwinding of the Fed’s balance sheet has been going ‘very smoothly so far,’” adding that “the Treasury market has been very resilient.” Strong Economic Indications Prompt Rise In Retirement Rates Bloomberg reported that following a pandemic-era spike and subsequent slump, retirement rates “surged again in recent months, reaching a post-pandemic record in December,” as “the US now has around 2.7 million more retirees than predicted in a model designed by Miguel Faria-e-Castro, an economist at the Federal Reserve Bank of St. Louis.” Bloomberg adds that “financial market performance looks to have played a role,” citing the strong performance of the stock market last year in comparison to 2022, though “expectations for interest-rate cuts from the Fed this year, along with a decline in inflation, may also have prodded more to retire while convincing those already retired they needn’t return to the workforce.” S&P 500 Closes Above 5,000 For First Time The Washington Post reported the S&P 500 “crawled past 5,000 for the first time Friday, reaching an important symbolic landmark as continued economic optimism fanned the flames of a rally driven by artificial intelligence on Wall Street.” The Post says the S&P 500 “closed at 5,026.61, up less than 1 percent for the day, setting yet another closing record.” The New York Times reported that the rally was “fueled by better-than-expected earnings reports.”         In addition to the S&P 500, Reuters reported the Nasdaq “briefly traded above 16,000, with boosts from megacaps and chip stocks, including Nvidia as investors bet on artificial intelligence technology and eyed strong earnings data.” The AP points out that the Nasdaq “jumped 1.2% to pull within 0.4% of its own all-time high, which was set in 2021.” However, the AP reports the Dow Jones Industrial Average “was a laggard a day after setting its own latest record. It slipped 54 points, or 0.1%.” Nonetheless, CNBC reports “all three major averages notched their fifth straight winning week and 14th positive week in 15.” Previous Top Stories  • NMMA, RAI Amsterdam Promote Anne Dunbar To Executive Director Of IBEX LLC  • Policymakers, Investors Closing Watching US Inflation Data Revisions

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