Top RV News: AUG 23, 2024

Go RVing Plans Demographic Workshop at Dealer Convention

FAIRFAX, Va. – Uncover the secrets of today’s RV buyer with Go RVing’s all-new RV Owner Demographic Profile during a workshop at this year’s RV Dealer Convention/Expo. The convention is scheduled for Nov. 11-15?at Paris Las Vegas.

The groundbreaking research will revolutionize how dealers understand and engage with their customers. The workshop will be conducted by Go RVing’s Jeremy Greene, senior director of marketing communications, and Monika Geraci, director of public relations and communications.

During the event, attendees will discover the changing face of RVing. The speakers will discuss the latest on demographic trends shaping the industry, including insights into the hearts and minds of first-time and seasoned RVers.

Fed Chair Powell Could Signal Rate Cuts in Speech Today

JACKSON HOLE, Wyo. — With the Federal Reserve?considered certain ?to start cutting its benchmark interest rate next month, Chair Jerome Powell’s highly anticipated?speech ?Friday this morning (Aug. 23) at an economic conference will be closely watched for any hints about how many additional rate cuts might be in the pipeline, according to an Associated Press report .

Powell is expected to say the Fed has become more confident that inflation is nearing its 2% target, more than two years after it hit a painful four-decade high. Yet the Fed chair may take an overall cautious approach in his remarks at an annual conference of central bankers in Jackson Hole, Wyoming. Economists note that forthcoming economic data, including a monthly jobs report on Sept. 6, will help determine the size of future Fed rate cuts — whether a typical quarter-point cut or a more aggressive half-point drop — and how fast they occur.

“We think he will seek to dampen expectations of (a half-point cut) as well as reiterate that the Fed is data-dependent and does not make decisions in advance,” Ian Shepherdson, chief economist at Pantheon Macroeconomics, wrote in a research note.

Powell’s speech comes as the central bank is moving toward achieving a much sought-after “soft landing,” in which its rate hikes — 11 of them in 2022 and 2023 — manage to curb inflation without causing a recession. Inflation was just 2.5% in July, according to the Fed’s preferred measure, having tumbled from a 7.1% peak two years ago.

Canadian Government Steps In to End Freight Train Shutdown

Freight trains in Canada were expected to roll again soon after the government forced a?contract dispute? into arbitration Thursday, averting potentially dire?economic consequences ?for businesses and consumers across the country and in the U.S., according to a CBS News report .

Labour Minister Steven MacKinnon announced the decision to order the arbitration between the country’s two major freight railroads — Canadian National and CPKC — and Teamsters Canada Rail Conference, the union representing nearly 10,000 engineers, conductors and dispatchers.

MacKinnon’s announcement came moments after The Associated Press broke the news publicly, citing an official familiar with the situation who was not allowed to speak publicly before the announcement.

For the full list of our daily RV news stories, subscribe for free on our website to receive the latest news and information delivered daily to your inbox: https://rvbusiness.com/subscribe/

You can also go to RVBusiness.com to see all of today's top stories.