NOAA Hears Boating Industry Concerns And Marine Technological Solutions Regarding The Proposed Vessel Speed Restriction Rule
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FEATURED INDUSTRY NEWSNOAA Hears Boating Industry Concerns And Marine Technological Solutions Regarding The Proposed Vessel Speed Restriction RuleThis week, members of the boating industry met with NOAA Fisheries Assistant Administrator Janet Coit at the Discover Boating Miami International Boat Show to express their concerns about the agency’s proposed expansion of the North Atlantic Right Whale (NARW) Vessel Strike Reduction rule. This was the first time the Assistant Administrator had met with the recreational boating industry about the impact of the rule since it was proposed a year and a half ago in August of 2022. Read More Discover Boating Expands Roster Of Real Boaters Telling Real Stories For 2024 CampaignDuring the Discover Boating Miami International Boat Show Industry Breakfast on Thursday, February 15, NMMA President, Frank Hugelmeyer’s state of the industry address included a sneak peek of the growing list of real boaters sharing their real stories of life on the water as part of the industry’s Discover Boating “See You Out Here” campaign. One of these boaters is 9-time Major League Baseball all-star, Gary Sheffield. Read More City Of Miami Mayor, Francis Suarez Cuts Ribbon To Open Discover Boating Miami International Boat ShowYesterday, at One Herald Plaza, City of Miami Mayor Francis Suarez and NMMA President Frank Hugelmeyer, together with Informa and the International Yacht Brokers Association, opened the doors to this year’s Discover Boating Miami International Boat Show – the world’s largest boat show. In Florida, consistently the top-ranking state for boat sales and registrations, there is a deep appreciation for life on the water as well as the role boating plays as an economic driver for communities like Miami Beach and the City of Miami. Read More LEADING ECONOMIC AND POLICY NEWSFederal Reserve Bank Of Atlanta Warns That Conditions Not Yet Amendable To Rate CutsBloomberg reports Federal Reserve Bank of Atlanta President Raphael Bostic “said there’s no rush to cut interest rates with the US labor market and economy still strong, and cautioned it’s not yet clear that inflation is heading sustainably to the central bank’s 2% target.” In a speech in New York, Bostic said, “The evidence from data, our surveys, and our outreach says that victory is not clearly in hand, and leaves me not yet comfortable that inflation is inexorably declining to our 2% objective. That may be true for some time, even if the January CPI report turns out to be an aberration.” Retail Sales Fall 0.8% In JanuaryThe AP reports retail sales fell 0.8% in January from December, down 0.5% excluding auto dealerships and gas stations sales. Economists attributed the fall to snowy weather, “but they also said the slowdown shows that shoppers may finally be buckling under higher interest rates and other financial hurdles and that the economic momentum from the end of 2023 could be starting to fade.” The report “could offer positive news that the Federal Reserve could finally start to cut rates, bringing relief to shoppers and businesses seeking lower rates for borrowing.” Consumers cut back spending “in nine of 13 categories including clothing and accessory stores, health and personal care businesses,” but “a solid gain at restaurants showed that spending at services remains sturdy, analysts said.” Fortune and the Wall Street Journal and other sources also cover the story. UK, Japanese Economies Shrank In 2023The Wall Street Journal reports the UK and Japanese economies shrank at the end of 2023, further underlining the US’ robust growth compared to “more anemic” conditions across much of peer OECD nations. The decline in activity in Japan specifically came as a surprise to many economists, as it shrank far enough to fall from the world’s 3rd largest economy to 4th, behind Germany. S&P 500 Closes At Another Record HighCNBC reports that the S&P 500 “closed at a new record high, as all three major indexes ended Thursday’s trading session in positive territory, after clawing back the steep losses suffered earlier in the week. ... The broad stock index climbed 0.58%, settling at 5,029.73, while the Nasdaq Composite added 0.30% to close at 15,906.17. The Dow Jones Industrial Average traded 348.85 points higher, or 0.91%, to end at 38,773.12.” Previous Top Stories | |||||||||||
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