Congresswoman Mary Peltola (D-AK) Named Legislator of the Year by National Marine Manufacturers

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FEATURED INDUSTRY NEWS Congresswoman Mary Peltola (D-AK) Named Legislator of the Year by National Marine Manufacturers Congresswoman Mary Peltola (D-AK) has been awarded the Legislator of the Year Award by the National Marine Manufacturers Association (NMMA) for her support of the recreational boating and fishing industry. The award recognizes Congresswoman Peltola’s leadership in advocating for policies that support the boating industry, protect marine ecosystems, and advance conservation efforts for all who rely on the oceans. Specifically, the Congresswoman has proactively worked to support the recreational boating and fishing industry through her support of common-sense marine mammal management. Her actions demonstrate a fearless leadership and recognition of a broader regulatory threat that could one day negatively impact Alaska’s boaters and anglers. Read More LEADING ECONOMIC AND POLICY NEWS Biden Steps Up Outreach To US CEOs Amid Effort To Shore Up Economy Axios reports President Biden “is boosting his outreach to America’s CEOs to try to ensure that his nearly $2 trillion in government spending to boost the economy is matched and multiplied by private-sector investments.” For example, in the White House on Tuesday, “Biden asked the CEOs – including United Airlines’ Scott Kirby, Citi’s Jane Fraser and Marriott International’s Anthony Capuano – what they could do to help the economy keep its momentum.” Axios explains, “To win re-election, Biden needs the economy to keep growing, consumers to keep spending and businesses to keep hiring.” The CEOs “can help juice the economy, validate Biden’s overall approach and give him real-time feedback on how his policies are working. Biden’s team knows that business leaders can help shape public opinion about the economy – and it craves the kind of local headlines the CEOs can generate.” Fed Officials Signal More Rate Hikes Are Unlikely – But Not Impossible The New York Times says, “Investors do not expect the Federal Reserve to raise interest rates again, and officials have made it clear that they see further increases as unlikely. But one important takeaway from recent Fed commentary is that unlikely and inconceivable are not the same thing.” Specifically, at a recent news conference, when asked whether officials might raise interest rates again, Federal Reserve Chair Jerome Powell “said he thought they probably would not – but he also avoided fully ruling out the possibility. And when asked...whether he thought rates were high enough to bring inflation fully under control, he...tiptoed around the question,” stating, “That will be a question that the data will have to answer.” The Times says, “There was a message in that dodge. While officials are most inclined to keep interest rates at their current levels...policymakers could be open to higher interest rates if inflation were to pick back up.” US Firms Increasing Buybacks The Wall Street Journal reports US firms are increasing stock buybacks, thus providing an additional boost to the stock market. Data collected by Birinyi Associates show that S&P 500 firms that have, as of Monday, posted results for the first quarter have divulged purchasing back $181.2 billion in their shares over the course of the timeframe. That constitutes a 16% upswing relative to the year-prior quarter. Trump Tells Oil Executives He Will Roll Back Emissions Rules, Allow More LNG Exports Reuters reports that according to the Washington Post, former President Donald Trump “vowed to reverse dozens of the Biden administration’s environmental rules and policies at a meeting with top U.S. oil executives, where he also asked them to raise $1 billion for his presidential campaign.” Reuters points out Trump “promised to end President Joe Biden’s emissions rules aimed at promoting electric vehicles and halt the Biden administration’s freeze on permits for new liquefied natural gas exports, among other actions.” According to Reuters, “Invited guests included the CEOs of Venture Global, Cheniere Energy as well as representatives from Chevron, Continental Resources, Exxon and Occidental Petroleum.” The New York Times says “oil billionaire Harold Hamm, who has for years helped to shape Republican energy policies,” organized the event.         Meanwhile, Politico reports the industry has been “drawing up ready-to-sign executive orders for...Trump aimed at pushing natural gas exports, cutting drilling costs and increasing offshore oil leases in case he wins a second term, according to energy executives with direct knowledge of the work.” Politico adds this move “stems from the industry’s skepticism that the Trump campaign will be able to focus on energy issues as Election Day draws closer – and worries that the former president is too distracted to prepare a quick reversal of the Biden administration’s green policies.” Major Stock Indices Close Higher Again As Treasury Yields Fall CNBC reports stocks “rose Thursday, with the Dow Jones Industrial Average claiming a seventh winning day, as new jobless claims data rekindled hope for Federal Reserve rate cuts later this year. The 30-stock Dow jumped 331.37 points, or 0.85%, to close at 39,387.76 and notch its longest win streak since a nine-day run in December.” The S&P 500 “added 0.51% to close at 5,214.08, while the Nasdaq Composite gained 0.27% and ended at 16,346.26.” CNBC also reports that Treasury yields “fell Thursday following the release of fresh U.S. unemployment data and a bond auction that was met with strong demand. The yield on the 10-year Treasury was down more than 2 basis points at 4.457%. The 2-year Treasury yield dipped about 3 basis points to 4.815%.” A Wall Street Journal live feed provides similar coverage. Previous Top Stories  • NMMA Foundation Awards Captain Fred Gamboa Of Point Pleasant, NJ With The 2024 Hammond Marine Industry Leadership Award  • Surprise Fees Become Ubiquitous In Consumer Bills

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