Video: NMMA President Talks State Of Recreational Boating, Headwinds And Opportunities

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FEATURED INDUSTRY NEWS Video: NMMA President Talks State Of Recreational Boating, Headwinds And Opportunities In a new Marine Minute, NMMA President, Frank Hugelmeyer, shares NMMA’s take on the current state of the recreational boating industry, including a look at consumer behaviors and demand in 2023 and how that’s shaping headwinds and opportunities the association is watching in 2024. While new boat sales are expected to remain relatively flat in 2024, boating expenditures are likely to remain strong as the industry approaches spring and summer boating activity. Read More LEADING ECONOMIC AND POLICY NEWS Federal Reserve Officials In “No Rush” On Rate Cuts Reuters reports Fed policymakers are “coalescing around the idea of keeping borrowing costs where they are until perhaps well into the year, given slow and bumpy progress on inflation, and a still-strong U.S. economy.” On Thursday New York Fed President John Williams “became the latest U.S. rate-setter to embrace the ‘no rush’ on rate cuts view articulated in February by Fed Governor Christopher Waller and since echoed by many of his colleagues.” Atlanta Fed President Raphael Bostic on Thursday “offered ‘the end of the year’ as his view of the likely timing for a first rate cut, saying ‘I’m comfortable being patient.’” Insider also reports. Bloomberg and Reuters report on Bostic’s comments, while Bloomberg reports on Williams’ comments.         Minneapolis Federal Reserve President: Fed Could “Potentially” Hold Rates Steady All Year Bloomberg reports the Federal Reserve “needs to achieve more confidence that inflation is declining before cutting interest rates and could possibly delay such a move until after 2024, said Minneapolis Fed President Neel Kashkari.” NEC Director Biden Administration Wants To Keep Gas Prices In Current Range Bloomberg reports Biden economic aide Lael Brainard said at the Semafor World Economy Summit on Thursday that the Administration wants to make sure that gas prices “remain in current ranges as we go into the summer driving season.” However, she “declined to directly answer whether the administration is considering another release” from the Strategic Petroleum Reserve, “and stayed silent on whether the US will add oil sanctions to penalties announced earlier Thursday against Iran in response to Tehran’s missile and drone attack on Israel.” Reuters reports similarly.         In an editorial, the Wall Street Journal argues that fossil fuel production is leading Biden’s economic growth, and is doing more to boost the economy than all of the billions he has spent on renewable energy. The Journal concludes that Biden’s biggest economic success is one he’s worked his hardest to destroy. NYTimes Analysis: Chinese Exports Threaten Biden’s Manufacturing And Clean Energy Plans In an analysis for the New York Times, Jim Tankersley and Alan Rappeport write, “President Biden’s trillion-dollar effort to invigorate American manufacturing and speed a transition to cleaner energy sources is colliding with a surge of cheap exports from China, threatening to wipe out the investment and jobs that are central to...Biden’s economic agenda.” Tankersley and Rappeport explain both the US and China “are using large government subsidies” to develop “technologies meant to speed a global transition away from fossil fuels in order to avert catastrophic climate change.” However, the two countries’ approach to financing these technologies “has differed in important ways.” Specifically, China has “poured money into factories...to help offset a real estate crisis and sluggish domestic consumption.” And those factories, which often run on low-cost labor, “are now exporting goods at prices that are often far below those of their competitors, helping to power its economy.” Previous Top Stories  • Discover Boating Boater Safety And Education Video Awarded For Excellence  • Collapse Of Baltimore’s Key Bridge Forces Shippers And Truckers To Find Alternate Routes

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