Discover Boating And Progressive Insurance® To Launch New Safe Boating Video Series

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FEATURED INDUSTRY NEWS Discover Boating And Progressive Insurance® To Launch New Safe Boating Video Series Discover Boating, powered by NMMA and MRAA, in collaboration with Progressive Insurance, is launching its third safety video series titled “Top Safe Boating Tips” this month. The five-part series covers crucial safety topics that all boaters need to be aware of for a worry-free day on the water, including boating with pets, refueling, navigation lights usage, trailering and safe seating. Read More ABYC Foundation Names Freddie Fowler Educator Of The Year The ABYC Foundation has named Freddie Fowler from Manatee Technical College in Bradenton, Florida, as the 2023 Educator of the Year. The annual award honors extraordinary marine service technology instructors teaching in a high school, post-secondary school, or within the industry. Read More LEADING ECONOMIC AND POLICY NEWS Consumer Sentiment Index Rises To Highest Level Since July 2021 Bloomberg reports the University of Michigan’s index of US consumer sentiment rose in its final reading for March. The index climbed to a final March reading of 79.4, up from a preliminary reading for the month of 76.5. The final March reading is the index’s highest level since July 2021. In addition, “the 2.9-point gain from the preliminary reading was the biggest intramonth increase since August 2022.” Federal Reserve Governor Waller: Rate Cuts May Have To Wait For More Data Showing Inflation Nearing Two Percent CNBC reports that Fed Governor Christopher Waller made the case on Wednesday that “recent disappointing inflation data affirms the case for the U.S. Federal Reserve to hold off on cutting its short-term interest rate target...but he did not rule out trimming rates later in the year. ‘There is no rush to cut the policy rate’ right now, Waller said in a speech at an Economic Club of New York gathering. Recent data ‘tells me that it is prudent to hold this rate at its current restrictive stance perhaps for longer than previously thought to help keep inflation on a sustainable trajectory toward 2%.’” Bloomberg reports that Waller “said...that recent inflation data make him hesitant to cut rates as soon as he did a couple of months ago,” but on Thursday, “traders [were] barely reacting,” pushing yields just “marginally higher.” Economic Growth For Last Quarter Adjusted Upward To 3.4 Percent Annual Rate The AP reports, “The U.S. economy grew at a solid 3.4% annual pace from October through December, the government said Thursday in an upgrade from its previous estimate.” The government had previously estimated that the economy grew at a 3.2% rate last quarter. The Commerce Department’s revision “confirmed that the economy decelerated from its sizzling 4.9% rate of expansion in the July-September quarter.” However, “last quarter’s growth was still a solid performance, coming in the face of higher interest rates and powered by growing consumer spending, exports and business investment in buildings and software.” S&P 500 Spiked 10.8 Percent In The First Quarter; Nasdaq Gained 10.9 Percent The Washington Post reports US stocks “wrapped up a monster first quarter on a subdued note Thursday, with both the S&P 500 and Nasdaq posting double-digit gains the first three months of 2024 – powered by investors’ optimism about the state of the economy.” The Post highlights that the S&P 500 “gained 10.8 percent in the first quarter, continuing a rally that began in late 2023 and notching its strongest start to the year since 2019,” and the Nasdaq gained 10.9%, while the Dow Jones Industrial Average “also notched a respectable first quarter with a gain of 5.4 percent, which analysts took as a welcome sign that the current rally isn’t wholly dependent on Big Tech.” Analysts attributed their performance to “the continued strength of the economy, with consumers continuing to open up their wallets.” The AP reports the indices have been “on a nearly unstoppable run since late October,” and highlights that they have “leaped as the U.S. economy has remained remarkably solid despite high interest rates meant to get inflation under control.”         Reuters says the stock market Thursday was “aided by optimism over artificial intelligence (AI) related stocks and expectations the U.S. Federal Reserve will begin to cut interest rates this year.” CNBC points out that “the Federal Reserve’s preferred inflation measure – the personal consumption expenditures report – is due on Friday morning,” and while “markets will be closed on Good Friday, the results of this reading could sway markets in the approaching week.”         The Wall Street Journal provides similar coverage. Previous Top Stories  • NMMA Canada Joins Boating Ontario Association For Regional Events, Visits Ontario Members  • Federal Reserve Governor Waller Says Fed Should Wait To Cut Interest Rates

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