Industry Leaders Collaborate On Marine Workplace Research - Responses Due Friday

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FEATURED INDUSTRY NEWS Industry Leaders Collaborate On Marine Workplace Research – Responses Due Friday Industry organizations have joined the Soundings Trade Only Group as sponsors of a new research initiative aimed at understanding the needs and desires of today’s marine industry employees and fostering a stronger, more diverse, expansive, and multi-faceted marine workforce. The 2024 global research study is designed to offer insights on attracting, retaining, and developing top talent. Read More LEADING ECONOMIC AND POLICY NEWS Report: Two-Thirds Of Global Currencies Have Weakened Against US Dollar This Year The New York Times reports that every major currency across the globe “has fallen against the U.S. dollar this year, an unusually broad shift with the potential for serious consequences across the global economy.” The Times says that two-thirds of the approximately 150 currencies tracked by Bloomberg “have weakened against the dollar, whose recent strength stems from a shift in expectations about when and by how much the Federal Reserve may cut its benchmark interest rate, which sits around a 20-year high.” High Fed rates, “a response to stubborn inflation, mean that American assets offer better returns than much of the world, and investors need dollars to buy them.”         WSJournal: Japanese Yen’s Decline Could Be Economic Issue For Entire World The Wall Street Journal says in an editorial that while the Japanese yen’s decline has been an economic issue for an extended period of time, it now risks becoming a political and financial issue that stretches beyond Japan. The Journal says that Japan faces risks and trade-offs as Tokyo is attempting to reverse course on its policy errors from recent decades. Additionally, the Journal says that Japan experimented its way into this mess, and now Bank of Japan Governor Kazuo Ueda is navigating his way out without “monetary GPS.” Older Affluent Americans Are Boosting The US Economy, Delaying Rate Cuts The AP reports older Americans “are fueling a sustained boost to the U.S. economy” thanks to their outsized gains in the stock and housing markets over the past few years. Much of their spending is directed “toward higher-priced services like travel, health care and entertainment, putting further upward pressure on those prices – and on inflation.” This type of “spending is relatively immune to the Federal Reserve’s push to slow growth and tame inflation through higher borrowing rates, because it rarely requires borrowing.” At the same time, many older affluent Americans may even be benefiting from the Fed’s rate hikes if they own government bonds, as those rate increases “have led to higher bond yields, generating more income for those who own such bonds.” Major Stock Indices Close Higher to Start The Week CNBC reports, “Stocks closed higher Monday, lifted by Tesla, while traders geared up for a week dominated by corporate earnings and a Federal Reserve meeting. The S&P 500 rose 0.32% to 5,116.17, while the Nasdaq Composite added 0.35% to 15,983.08. The Dow Jones Industrial Average added 146.43 points, or 0.38%, to end at 38,386.09.” Previous Top Stories  • NMMA Certification Deadlines Quickly Approaching for 2024 Model Year  • Inflation Accelerated At A 2.8% Annual Rate Last Month

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