Georgia Boat Livery Liability Legislation Heads To Governor's Desk

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FEATURED INDUSTRY NEWS Georgia Boat Livery Liability Legislation Heads To Governor’s Desk On the final day of the Georgia Legislative session, the Georgia House of Representatives unanimously approved the Senate Substitute for House Bill 994. Sponsored by Rep. Alan Powell and carried in the Senate by Senator Matt Brass, this bill addresses liability issues related to boat rentals, leases, and charters. Read More LEADING ECONOMIC AND POLICY NEWS Consumer Prices Rose 3.5% In March CNBC reports that according to data released Wednesday by the Department of Labor Statistics, the Consumer Price Index rose 0.4% in March, “putting the 12-month inflation rate at 3.5%, or 0.3 percentage point higher than in February.” The core CPI, which excludes volatile food and energy prices, “core CPI also accelerated 0.4% on a monthly basis while rising 3.8% from a year ago.” USA Today reports that inflation “has slowed dramatically since reaching a 40-year high of 9.1% in June 2022. But after rapid improvement in the fall, price increases have accelerated monthly to a range of 0.3% to 0.4% so far this year.”         Media: New Numbers Raise Questions About When Or “Even Whether” Federal Reserve Can Cut Rates This Year According to the New York Times, “The surprisingly stubborn inflation reading raised doubts among economists about when – and even whether – the Fed will be able to start cutting interest rates this year.” The Washington Post says the Federal Reserve is now “very unlikely to cut interest rates in the next few months,” which “leaves future moves to the Fed’s meetings in July, September and the first week of November – the height of election season, when Republicans and Democrats are racing to leverage the economy in their appeals to voters.” The Wall Street Journal says that the new report “had been hotly anticipated because Fed leaders had been willing to play down stronger-than-anticipated inflation readings in January and February as reflecting potential seasonal quirks,” but March’s reading “erodes that story and could lead Fed officials to postpone anticipated rate cuts until July or later.”         Bloomberg reports that “investors are signaling the Federal Reserve will cut interest rates just twice this year, starting in September.” According to Bloomberg, “This turn of events was unthinkable at the start of the year, when the consensus view was for six cuts totaling 1.5 percentage points, beginning in March.” CNBC reports that “markets are pricing in less than a 20% chance of a rate cut in June, according to the CME’s FedWatch measure of futures market pricing, down from nearly 80% one month ago.”         Also reporting is Reuters. Stocks Plunge On Inflation Concerns, Fed Rates Outlook CNBC reports that stocks “tanked on Wednesday after March inflation data came in hotter than expected, likely pushing off interest rate cuts by the Federal Reserve that investors have been anticipating. ... The Dow Jones Industrial Average dropped 422.16 points, or 1.09%, to end at 38,461.51. The S&P 500 slid 0.95% to 5,160.64. Nasdaq Composite tumbled 0.84% to close at 16,170.36.” The New York Times says, “So far this year, the fading prospects for rate cuts, which would be seen as supportive for the stock market, have yet to derail a tremendous rally that has taken hold in recent months. But some analysts question how long that can continue, with higher rates eventually squeezing consumers and crimping corporate earnings in a more significant way.” A New Report Tackles The Myth Of Peak Oil Forbes reports that the concept of “peak oil” has been debated for over a century with differing views on when oil demand will decline. Recently, Forbes covered a new analysis by Enverus Intelligence Research (EIR), which suggests global crude oil demand will continue to rise well into the 2030s, countering the International Energy Agency’s projection of an earlier peak and OPEC’s projection of a later. This analysis highlights regional shifts in demand and underperformance in fuel economy standards, while also noting slowed electric vehicle momentum in the US. EIR doesn’t set a definitive date for peak oil but forecasts it could occur between 2030 and 2035. Previous Top Stories  • Join The NMMA Team April 23 For A Webinar On What To Expect At This Year’s American Boating Congress  • Democrats Propose Bill To Ensure Federal Government Will Fully Fund Repair Of Key Bridge

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