Early Bird Registration For The American Boating Congress Closes April 1

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FEATURED INDUSTRY NEWS Early Bird Registration For The American Boating Congress Closes April 1 Early bird registration for the American Boating Congress (ABC) closes on April 1, 2024. This is your final chance to take advantage of discounted rates and secure your spot at our industry’s premier advocacy event. Read More LEADING ECONOMIC AND POLICY NEWS Fed Signals Possibility Of Rate Cuts To Prevent Rising Unemployment Bloomberg reports the Federal Reserve “is signaling a willingness to cut rates to head off a job-cutting spiral – even if that means somewhat higher inflation for a while.” Fed Chair Jerome Powell last week said that an “unexpected weakening in the labor market could...warrant a policy response.” Bloomberg explains that by “holding out the possibility of lower rates if the labor market weakens unduly, Powell seems to be trying to short-circuit” rising unemployment.         Fed Remains “Wary” On Rate Cuts Amid Signs Of Rising Inflation Bloomberg says that the core personal consumption expenditures price index remaining “uncomfortably high” for February underscores “why central bankers are wary about cutting interest rate too soon,” even as “some economists expect the January figures to be revised higher following recent government reports on consumer and producer prices.” Fed Chair Jerome Powell has “emphasized the broader story of a gradual yet bumpy path for getting inflation back to target,” and “price data so far this year has neither added to policymakers’ confidence nor undercut it, he indicated.” Meanwhile, an upcoming PCE report “is also projected to show stronger consumer spending growth in February as well as another solid gain in personal income.” Biden Signs $1.2 Trillion Spending Package, Averting Partial Government Shutdown The Washington Post reports President Biden “signed a $1.2 trillion spending bill into law Saturday, averting a brief partial government shutdown and officially keeping federal agencies funded until October, hours after the Senate approved it overnight.” Following the signature, the President “said that ‘neither side got everything it wanted’ and emphasized that several Republican-backed cuts that he described as ‘extreme’ were rejected.” Biden “also urged lawmakers to pass two measures that have been held up in Congress, a border security agreement and a supplemental funding for national security,” adding, “Congress’s work isn’t finished.”         Politico says the bill’s passage “caps off an especially rancorous government funding battle that began more than a year ago,” meaning that “almost halfway through the fiscal year,” federal agencies have finally secured “fresh budgets and a steady funding stream.” The Wall Street Journal, the New York Times, Reuters, Bloomberg, The Hill, Axios, CNN, the AP, and CNBC offered similar coverage. S&P 500 Gained 2.3% This Week While Nasdaq Rose 2.9% CNBC reported the Dow Jones Industrial Average “slipped on Friday, but clinched its best week of the year after back-to-back record-setting sessions. The Dow dipped 305.47 points, or 0.77%, to close at 39,475.90.” The S&P 500 “inched lower by 0.14% to end at 5,234.18,” while the Nasdaq Composite “added 0.16% and closed at 16,428.82 for another record.” CNBC also pointed out “all three major averages notched healthy gains this week, with the S&P 500 rising about 2.3%,” while the Dow “was up just shy of 2% for its best week since December,” and the Nasdaq was “the outperformer of the three, jumping nearly 2.9%.” Previous Top Stories  • Gain Market Insights With NMMA’s January Monthly Shipment Report  • Congressional Negotiators Finalize Spending Package, Setting Stage For Last-Minute Votes

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