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FEATURED INDUSTRY NEWSMarketing Resources Available From Discover Boating To Help Engage Next Gen BoatersDiscover Boating, powered by NMMA and MRAA, offers an online resource center with a variety of marketing materials dedicated to helping industry stakeholders engage nexgen boaters, nurture newcomers and elevate the customer service experience. B2B.DiscoverBoating.com is home to a variety of educational resources, tools, website content and campaign assets that can easily be shared on your channels. Read More LEADING ECONOMIC AND POLICY NEWSSurvey: Economists Expect Fed To Make Three Rate Cuts This Year Starting In JuneBloomberg reported economists predict that “a recent pickup in inflation isn’t likely to shift Federal Reserve policymakers’ forecasts for three interest-rate cuts this year and four in 2025,” with officials likely “marking up their 2024 forecasts for US gross domestic product to an annual rate of 1.7% from 1.4% and lifting their inflation projection to 2.5% from 2.4%.” According to the survey, the Federal Open Market Committee “will keep rates steady in the 5.25% to 5.5% range for a fifth consecutive meeting next week, with policymakers reducing rates for the first time in June,” since “recent economic data reinforces the case for caution,” and “most forecasters don’t think the Fed can declare victory just yet.” WSJournal Report: Economy Gives “Conflicting” Signs On Underlying Growth RatesThe Wall Street Journal cited strong economic performance across multiple sectors as showing that the Federal Reserve’s monetary policy is “not very tight,” despite the “relatively high” elevation of interest rates, with a number of “conflicting signals” muddying the Fed’s considerations regarding the trajectory of inflation and growth. Consumer Sentiment Falls Slightly Despite Positive Inflation OutlookThe AP reported the University of Michigan released its consumer sentiment index on Friday, which showed that “consumers became slightly less optimistic about the economy this month, though they continue to expect inflation to cool further, a potential sign that price increases will keep slowing.” Sentiment “slipped to 76.5 in March, barely below February’s figure of 76.9,” meaning “Americans’ outlook has essentially remained fixed since January, when it leapt higher.” The AP adds that “sentiment is now about halfway between its all-time low, reached in June 2022 when inflation peaked, and its pre-pandemic averages.” S&P 500 Falls For Second Straight Week While Nasdaq Dropped 0.7% This WeekCNBC reported the S&P 500 “fell on Friday and notched its second-straight weekly loss, with technology stocks under pressure as inflation concerns remain front and center ahead of the Federal Reserve’s policy meeting next week. The broad market index lost 0.65% to close at 5,117.09.” The Dow Jones Industrial Average “dipped 190.89 points, or 0.49%, to finish the session at 38,714.77, while the Nasdaq Composite slipped 0.96% to 15,973.17.” CNBC notes that the S&P 500 “shed 0.13% this week,” while the Nasdaq “slipped 0.7%.” Previous Top Stories | |||||||||||
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If you are unable to see the message or images below, click here to view Shows Certification Advocacy Statistics International Membership Customized Briefing for manoj dole May 10, 2024 FEATURED INDUSTRY NEWS Congresswoman Mary Peltola (D-AK) Named Legislator of the Year by National Marine Manufacturers Congresswoman Mary Peltola (D-AK) has been awarded the Legislator of the Year Award by the National Marine Manufacturers Association (NMMA) for her support of the recreational boating and fishing industry. The award recognizes Congresswoman Peltola’s leadership in advocating for policies that support the boating industry, protect marine ecosystems, and advance conservation efforts for all who rely on the oceans. Specifically, the Congresswoman has proactively worked to support the recreational boating and fishing industry thro...
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