Discover Boating Content Helps New Boat Owners Prepare For Boating Season

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FEATURED INDUSTRY NEWS Discover Boating Content Helps New Boat Owners Prepare For Boating Season Throughout March, Discover Boating, powered by MRAA and NMMA, shared timely content connecting key holidays with boating. In celebration of Women’s History Month, Discover Boating’s website and social media channels featured “Women Making Waves” in the marine industry, shining a spotlight on their significant contributions. Read More LEADING ECONOMIC AND POLICY NEWS Federal Reserve Data Shows Rise In US Consumer Borrowing Bloomberg reported Federal Reserve data shows US consumer borrowing “advanced in February, driven by the largest increase in credit-card balances in three months.” According to the findings, total credit “rose $14.1 billion after a revised $17.7 billion gain in January... The median estimate in a Bloomberg survey of economists called for a $15 billion increase.” Meanwhile, revolving credit “climbed $11.3 billion in February. Non-revolving credit, such as loans for vehicle purchases and school tuition, increased $2.9 billion.” Bloomberg reported, “Robust job growth continues to drive household spending, though consumers’ credit-card balances are mounting. With accounts carrying higher interest rates and monthly payments taking a bigger chunk of their paychecks, those borrowers could be at risk should the economy and labor market weaken.” Federal Reserve Bank Of Dallas President, Fed Governor Say It Is “Too Soon” For Fed To Cut Rates Bloomberg reported during an appearance at Duke University on Friday, Federal Reserve Bank of Dallas President Lorie Logan “said it’s too soon to consider cutting interest rates, citing recent high inflation readings and signs that borrowing costs may not be holding back the economy as much as previously thought. Logan...said she’s increasingly concerned that inflation progress could stall out.” Logan explained, “In light of these risks, I believe it’s much too soon to think about cutting interest rates. ... I will need to see more of the uncertainty resolved about which economic path we’re on.” Logan added that “Fed officials ‘should remain prepared to respond appropriately if inflation stops falling.’”         Meanwhile, CNBC reported that also on Friday, Federal Reserve Governor Michelle Bowman made similar remarks, saying it’s possible interest rates “may have to move higher to control inflation, rather than the cuts her fellow officials have indicated are likely and that the market is expecting.” Bowman stated, “While it is not my baseline outlook, I continue to see the risk that at a future meeting we may need to increase the policy rate further should progress on inflation stall or even reverse. ... Reducing our policy rate too soon or too quickly could result in a rebound in inflation, requiring further future policy rate increases to return inflation to 2 percent over the longer run.”         In an editorial, the Wall Street Journal expressed hope that the strong March jobs report will encourage the Fed to delay interest rate cuts. NYTimes Analysis: Dynamic Pricing Can Benefit Consumers In an analysis for the New York Times, Lydia DePillis discussed the impact of dynamic pricing, or price discrimination, on consumers. DePillis writes that there are concerns that the practice harms consumers in part because of “the idea that dynamic pricing is often enabled by algorithms, which are opaque to consumers and regulators, and can be tools of collusion.” However, “in a competitive environment, dynamic pricing can also lead to price wars that benefit consumers. Most companies use the strategy to try to broaden their reach, according to pricing experts, increasing their revenues by bringing in new customers rather than making more money on each one.” S&P 500, Nasdaq Close Out Losing Week With 1%+ Gains CNBC reported stocks “rebounded Friday following the Dow Jones Industrial Average’s worst session in more than a year as traders cheered a stronger-than-expected jobs report and looked past a jump in rates. The 30-stock Dow climbed 307.06 points, or 0.8%, to settle at 38,904.04. The S&P 500 gained 1.11% to end the day at 5,204.34. The tech-heavy Nasdaq Composite advanced 1.24%, closing at 16,248.52.” However, “Despite the bounce, all three indexes posted a losing week. The Dow slid 2.27%, posting its worst weekly performance in 2024. The S&P 500 declined 0.95% during the period, while the Nasdaq lost 0.8%.” Oil Prices Jumped Five Percent Last Week CNBC reported that “oil prices have rallied to five-month highs and are on pace for a weekly gain as tensions boil in the Middle East with Israel closing embassies over threats from Iran. The West Texas Intermediate contract for May delivery rose 78 cents, or 0.9%, to $87.37 a barrel, while the Brent June contract gained 88 cents, or 0.97%, to $91.53 a barrel.” According to CNBC, “U.S. crude is up 5.03% for the week while the global benchmark has added 4.62%.” Previous Top Stories  • Atlantic Intracoastal Waterways Association Hosts Advocacy Day  • Despite Federal Investments, Overall Outlook For Manufacturing Jobs “Weak”

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