Oil Prices Likely to get Worse Before they get Better

The cost of diesel reached a new record this week of $5.72 a gallon, according to the U.S. Energy Information Administration. Rising oil and fuel costs are adding pressure to the prices of other goods. "Big parts of the economy run on diesel, from agriculture to manufacturing, and thus the surge in diesel prices is driving up prices broadly," Mark ...
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Special Episode of Extra Credit Podcast

? This week we have a special episode of our Extra Credit #podcast … we take you to Louisville, KY where nearly 1000 business-to-business professionals and vendors gathered for NACM's 126th Annual Credit Congress earlier this week.Copy and paste the link to listen:  https://www.buzzsprout.com/1927071/10766497
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ICYMI: Latest Episode of Extra Credit

Greetings from Louisville, KY! Reminder: don't forget to check out episode 10 of NACM's Extra Credit podcast if you have not already: https://www.buzzsprout.com/1927071/10727334... and make sure to keep an eye out for this Friday's episode to hear special coverage from Credit Congress! ?
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Shanghai Slowly Lifts COVID Lockdown

After more than two months of COVID-related lockdowns, Shanghai started lifting restrictions today. However, it will likely take some time for China's economy to recover, especially while the country's zero-COVID policy remains in place."There is still quite some uncertainty and a scare that if there is a positive case in the office building or in ...
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EU To Ban Most Russian Oil by Year-End

European Union leaders agreed late Monday to immediately ban 75% of oil imports, with plans to reach a ban on 90% of Russian oil by the end of this year, the Associated Press reported. The sanction covers oil imported by sea, but allows a temporary exemption on imports delivered by pipeline, "a move that was crucial to bring landlocked Hungary on b...
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The Latest Podcast Episode of Extra Credit is Here!

Its a rainy day here at NACM headquarters in Columbia, Maryland. But what better way to spend the day inside than listening to the latest episode of our Extra Credit #podcast ? ?Listen here: https://www.buzzsprout.com/1927071/10692102This week we talked about...1. Credit departments losing staff to other companies2. Possible early signs of an ...
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Stagflation Could Be Ahead for US Economy

Stagflation occurs when increasing prices and slowing economic growth occur at the same time. Inflation is currently sitting near a 40-year high, but economic growth is still fairly healthy and the unemployment rate is low.However, the Federal Reserve is playing a risky game of raising interest rates, which could send the U.S. economy into a 1970's...
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Americans Concerned About Economic Cost of Russian Sanctions, Poll Shows

Americans are becoming less concerned about punishing Russia for invading Ukraine and more concerned about the cost those sanctions are having on the economy, according to a poll from The Associated Press-NORC Center for Publish Affairs Research.More than half (51%) of U.S. adults say limiting damage to the U.S. economy should be a top priority whi...
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Listen to the Newest Episode of Extra Credit!

Have five minutes? Use it to get caught up on the latest B2B news in this week's episode of NACM's Extra Credit #podcast? (Hint: listeners will hear an exclusive webinar coupon code) ?Click the link to listen: https://www.buzzsprout.com/1927071/10652328This week we talked about...1. How Russia's invasion into Ukraine has complicated global tra...
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Homebuilding Permits Tumble in April

The housing market is showing signs of cooling, as U.S. homebuilding permits dropped to a five-month low last month, Reuters reports. "Homebuilding was already being constrained by soaring prices as well as shortages of materials," the article reads. "The housing market is the sector of the economy most sensitive to interest rates, with building pe...
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Biden Administration to Ease Some Economic Sanctions Against Venezuela

The U.S. is moving to ease some economic sanctions against Venezuela in hopes to encourage negotiations between the U.S.-backed opposition and Nicolás Maduro's government, according to the Associated Press.Several U.S. oil firms had their Venezuelan operations frozen by sanctions first imposed in 2019 to "choke oil exports and deprive Caracas of it...
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Listen to the Latest Episode of Extra Credit!

Grab a cup of coffee and start your morning by listening to the latest episode of NACM's Extra Credit #podcast! ? ?Episode #7 (buzzsprout.com)This week we chatted about...1. The biggest challenges facing the U.S. economy today2. How industry credit groups compare to other information sources3. Turning risk into opportunities for growthWhat topics w...
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Long Road to Recovery for US Inflation

Inflation slowed in April after seven months of surging, a signal that prices may already have peaked. However, inflation still has a long way to go. Consumer prices rose 8.3% in April, down slightly from the 8.5% year-over-year surge in March, per a government report."The Federal Reserve has signaled that it is all-in on fighting inflation but cal...
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Cost of Diesel Continues to Climb

The price for a gallon of diesel fuel hit another record month, costing $5.62 compared to the average $2.44 per gallon the same time last year, according to the American Automobile Association (AAA). The cost increases come as diesel inventories sit at historic lows."Fuel prices have surged as efforts to isolate Russia, one of Europe's most importa...
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US Fed Makes Biggest Interest Rate Hike In 22 Years

​The Federal Reserve raised the benchmark interest rate by half a percentage point on Wednesday, it's most aggressive hike since 2000. The Fed also hinted to further rate hikes in the future as it tries to tame the worst inflation in 40 years."With appropriate firming in the stance of monetary policy, the Committee expects inflation to return to it...
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Listen to this week's episode of the Extra Credit Podcast!

Happy Friday! Take a few minutes and get caught up on all things #B2Bcredit with this week's episode of the Extra Credit #podcast. https://www.buzzsprout.com/1927071/10527186On this week's episode: How to manage credit during a recession; Navigating conflict as a #leader; Using technology to create more value-added time for the credit team.You...
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Chinese Yuan Continues to Drop Against US Dollar

China's currency hit a 17-month low against the U.S. dollar today, as fears grow about the economic repercussions from continued Covid lockdowns in some major Chinese cities. "There are concerns about the Covid situation in Beijing evolving into what happened in Shanghai with some prolonged lockdowns that bites the economy," Kevin Li, portfolio man...
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New Podcast Episode from NACM!

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 It's Friday and you know what that means! The latest episode of our Extra Credit podcast is out now!Get up to date on all things B2B credit in just a few minutes. This week we took a close look at how supply chain disruptions are here to stay and what factors could lead to a U.S. recession. Listen to the newest episode here: ht...
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Role of US Dollar Could be Changing

The U.S. dollar has remained the world's reserve currency since 1944 and is used in roughly half of all financial transactions, according to Kellogg Insight. But the dollar's status in global trade may be in jeopardy as countries begin diversifying their reserves with alternative currencies as a form of economic protection. "We might see an erosion...
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President Biden Issues Guidance Requiring U.S. Content in Fed Funded Projects

The Biden Administration issued guidelines Monday for the materials to be used on projects funded through the infrastructure passed in November. As of May 14, federally funded projects must use materials manufactured in the United States, including iron and steel. Component costs for a final product must be greater than 55% of the total cost.Howeve...
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