Boating, Waterways, And Recreation Supporters Create Action In California's Capitol

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FEATURED INDUSTRY NEWS Boating, Waterways, And Recreation Supporters Create Action In California’s Capitol Leaders from across the country who value California’s growing boating, waterways, and recreation industries descended on Sacramento on March 12-13, 2024 to attend the 8th Annual California Boating Congress (CBC). More than 75 industry leaders attended the two-day policy conference that featured state elected officials, regulators, and marine recreation experts. Read More NMMA’s Ben Murray Among Boating Industry’s 40 Under 40 Boating Industry announced its 40 Under 40 for 2024 – their list of the top young leaders from across the recreational boating industry. Individuals were selected from hundreds of nominations for their outstanding work and their potential to carry the marine industry forward. Read More LEADING ECONOMIC AND POLICY NEWS Federal Reserve Bank Of Chicago President Anticipates Three Rate Cuts this Year Bloomberg reports Federal Reserve Bank of Chicago President Austan Goolsbee “said he is among policymakers anticipating three interest-rate cuts this year. Goolsbee, speaking Monday in an interview on Yahoo! Finance, said his view was in line with the median estimate in projections released following the Fed’s March 19-20 meeting. Ten officials saw at least three cuts this year, while nine others projected two or fewer.”         However, Bloomberg reports that also on Monday, Federal Reserve Bank of Atlanta President Raphael Bostic “reiterated his expectation for one interest-rate cut this year, adding the central bank can afford to be patient as long as the economy holds up. ‘I have an outlook for how the economy’s going to perform,’ Bostic said.” Bostic added, “If it does that, then I think we can afford to be patient.” Bloomberg also reports Federal Reserve Governor Lisa Cook “said the US central bank must take a cautious approach to cutting interest rates to allow more time for inflation to slow down in some segments of the economy.”         Reuters says the Fed “looks on track to cut interest rates as the presidential campaign season heats up, potentially delivering President Joe Biden a boost as polls show Americans dislike his handling of the economy.” Celinda Lake, “a top Biden pollster in his 2020 campaign who has recently done private polls on the Fed for a client,” said, “Rate cuts are massively popular with people. It will really help build confidence in the economy just as people are paying closer attention to the election.” Reuters adds, “The question is whether what is anticipated – roughly half a percentage point of reductions before voters go to the polls – will be sufficient to move the needle.” Chinese Premier Acknowledges International Concern About China’s Economy At China Development Forum The Wall Street Journal reports Chinese Premier Li Qiang recognized growing international concern about the state of China’s economy in remarks delivered at the China Development Forum, a global business forum attended by top multinational corporate executives. While Li also focused on China’s long-term growth potential and market size, his acknowledgement of difficulties in the country’s property sector and high rates of local government debt mark a notable departure from the comments typically delivered at the forum in previous years. Major Stock Indices Close Lower On Monday CNBC reports that “stocks slipped Monday to start a shortened trading week as the rally that brought Wall Street to record levels took a breather. The Dow Jones Industrial Average fell 162.26 points, or 0.41%, closing at 39,313.64. The S&P 500 dipped 0.31% to finish at 5,218.19, while the Nasdaq Composite was down 0.27% and settled at 16,384.47.” Previous Top Stories  • Early Bird Registration For The American Boating Congress Closes April 1  • Fed Signals Possibility Of Rate Cuts To Prevent Rising Unemployment

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