?? From the President's Desk - March 17, 2023
Welcome back to Legatus' From the President’s Desk!
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From the President’s Desk is a chance for me to share with you what has held my attention this week. The weekly update will present a selection of observations and news stories focused on Catholic, business, and secular affairs, oriented to inform and empower Catholic professional leaders like you.
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Let’s get started:
?? Happy Saint Patrick’s Day
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St. Patrick of Ireland, pray for us! This missionary saint speaks to us in these times when we need to re-evangelize the world and ourselves. Ascension Presents has a terrific video worth watching today, The Real Story of St. Patrick. Enjoy your Guinness with some history and inspiration!
?? On the Road
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On Monday, March 13, and Tuesday, March 14, I was on the road with Legatus members for Catholics at the Capitol, our annual trip to Washington DC for the National Catholic Prayer Breakfast. On Monday evening, we began our trip with a Rosary and Mass at St. Mary, Mother of God Church in Washington DC. Then we went to the Heritage Foundation on Capitol Hill for a special reception with Legatus member Dr. Kevin Roberts, president of the Heritage Foundation. President Roberts spoke with Legatus members about the challenges facing our country and the reasons for us to be optimistic about the future! After the reception, members enjoyed dinner and fellowship at the Heritage Foundation. I am grateful to Dr. Roberts for his hospitality and leadership.
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We went to the Marriott Marquis downtown for the prayer breakfast early the next morning. It was a powerful event, with over 1000 people in attendance. The breakfast started with all of us praying the Divine Mercy Chaplet, led by the Sisters of Life from the Washington DC community. It was amazing to be part of 1000 people praying together! We heard from Professor Carter Snead about abortion and how to be hopeful after the Dobbs decision. Most Reverend Borys Gudziak, Archeparch of the Ukrainian Catholic Archeparchy of Philadelphia, spoke passionately about the war in Ukraine, and how hope remains undefeated.
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After breakfast, we traveled to St. Dominic Church and attended Mass. Then, we were off again to Capitol Hill for lunch at the Capitol Hill Club, just steps from the Capitol Building. At lunch, we had talks from Chuck Donovan, president of the Charlotte Lozier Institute, and Rep. Chris Smith (R-NJ), House Congressional Pro-Life Caucus co-chair, about the challenges facing the pro-life movement after Dobbs, and prospects for the future of the fight for the right to life.
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All that in less than 24 hours!
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Please consider joining us next year for Catholics at the Capitol. We hope to have more details about our 2024 visit later this year.
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? Making Sense of SVP
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It seems like every few hours, we are learning more about the crisis at Silicon Valley Bank. To help keep up with the news, here is an explainer from MarketWatch.
?? New Jobs Numbers Are In
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More news about jobs from Reuters:
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The number of Americans filing new claims for unemployment benefits fell more than expected last week, pointing to continued labor market strength, though financial markets turmoil is casting a shadow over the economy.
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Initial claims for state unemployment benefits dropped 20,000 to a seasonally adjusted 192,000 for the week ended March 11, the Labor Department said on Thursday. Economists polled by Reuters had forecast 205,000 claims for the latest week.
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What to make of the new numbers? Barron’s has this:
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The numbers point to an economy that continues to stay hot as hiring has improved significantly from the early pandemic era. That’s bad news for the Federal Reserve, which is monitoring the labor market to see signs of softening as it fights inflation. A weaker labor market means less demand for goods.
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‘The bottom line again is companies are holding on to employees after a few years of difficulty in finding many of them,’ wrote Peter Boockvar, chief investment officer of Bleakley Advisory Group.
Thank you for reading, and be on the lookout for our next From the President’s Desk!
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