NMMA CEO And President Frank Hugelmeyer Discusses The Vessel Speed Rule During Captain Bob's No Wake Zone Radio Show

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FEATURED INDUSTRY NEWS NMMA CEO And President Frank Hugelmeyer Discusses The Vessel Speed Rule During Captain Bob’s No Wake Zone Radio Show Frank Hugelmeyer, NMMA’s CEO and President, was recently interviewed on Captain Bob’s No Wake Zone Radio Show, where among other topics, he discussed NOAA’s proposed expansion of the 2008 North Atlantic Right Whale Vessel Strike Reduction rule and the impact it would have on recreational boating and the U.S. economy. Hugelmeyer explained how the vessel speed restriction rule would restrict recreational boats as small as 35 feet to travel no faster than 10 knots – roughly 11 mph, the speed of a bicycle – in Atlantic Coastal waters, stretching from Massachusetts to central Florida for up to seven months out of the year and up to 90 miles offshore. Read More LEADING ECONOMIC AND POLICY NEWS Producer Price Index And Core PPI Both Rose 0.2% In March Bloomberg reports that producer prices “increased in March from a year earlier by the most in 11 months, though certain categories that feed into the Federal Reserve’s preferred inflation gauge were more muted. The producer price index for final demand rose 2.1% from March 2023, Labor Department data showed Thursday.” However, “on a monthly basis, the PPI increased a less-than-forecast 0.2% after a sharp advance in February.” CNBC reports that “excluding food and energy, the core PPI also rose 0.2%, meeting expectations.” According to CNBC, “On the producer price side, March’s gain was pushed by services, which saw a 0.3% increase on the month. Within that category, the index for securities brokerage and other investment-related fees jumped 3.1%.”         The AP says, “The slightly better-than-expected producer price reading came as something of a relief, arriving a day after the Labor Department reported that consumer price inflation was surprisingly hot last month. Wednesday’s numbers had added to worries that progress against inflation was stalling and raised doubts about when the Federal Reserve will cut interest rates.” The New York Times says, “Instead of the ‘soft landing’ that many economists thought was underway – a situation in which inflation slows as growth gently calms without a painful recession – analysts are increasingly wary that America’s economy is not landing at all.” According to the Times, “Rather than settling down, the economy appears to be booming as prices continue to climb more quickly than usual,” and “if inflation gets stuck at an elevated level for months on end, it could prod Fed officials to hold rates high for longer in an effort to cool the economy and ensure that prices come fully under control.” WSJournal Report: Treasury Secretary’s Efforts To Reduce Chinese Exports’ Impact On Global Markets Likely To Fall On Deaf Ears The Wall Street Journal predicts that Treasury Secretary Yellen’s efforts to convince Chinese officials to limit the nation’s industrial overcapacity will not result in policy changes, with Beijing’s desire to support the growth of its domestic manufacturing sector potentially setting the stage for additional Western trade barriers. S&P 500, Nasdaq Bounce Back From Losses Driven By Inflation Concerns CNBC reports that the S&P 500 “jumped and the Nasdaq Composite closed at a record Thursday as tech shares climbed higher, rebounding from an earlier pullback over concerns of persistent inflation.” The S&P 500 “gained 0.74% to close at 5,199.06,” and the Nasdaq Composite “added 1.68% to end the day at 16,442.20, a record level.” The Dow Jones Industrial Average “underperformed and slipped 2.43 points, or 0.01%, at 38,459.08.” Previous Top Stories  • Georgia Boat Livery Liability Legislation Heads To Governor’s Desk  • Consumer Prices Rose 3.5% In March

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