Training Future Credit Leaders: Extra Credit

? Did you know ... 46% of credit professionals describe their department's onboarding process as meticulously detailed and documented, while 27% describe it as learning on the fly or loosely documented. ⭐ The onboarding process is one of the first steps in building future credit leaders! Listen to this week's episode of Extra Credit ? to hear ...
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Inflation Surges to New Record in June

U.S. inflation reached another 40-year high in June as gas, food and rent costs continues to climb. Prices increased 9.1% year over year, up from 8.6% in May, and surpassing the estimates of many economists who thought inflation peaked."There may be some relief in the July numbers—commodity prices have come off the boil, at least—but...
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Biden and Mexico’s President Meet to Discuss Trade, Immigration

President Joe Biden and Mexican President Andrés Manuel López Obrador met earlier today to discuss immigration, trade relations and the war in Ukraine. The meeting comes after Obrador skipped the Summit of the Americas following the U.S. decision not to invite leaders from Cuba, Nicaragua and Venezuela. Despite recent tensions between both cou...
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Q&A with Economist Amy Crews Cutts: Extra Credit

? Got questions? NACM Economist Amy Crews Cutts has answers. ? Listen to this week's Extra Credit #podcast episode to hear her responses to some of the most pressing questions regarding today's economy.Listen here: https://www.buzzsprout.com/1927071/10922152 "I do not think the Federal Reserve will be able to bring down inflation to the l...
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US Job Openings Slip, but Demand Remains Strong

Some signs are indicating that the U.S. economy is starting to cool off, though only slightly. Job openings fell for the second-consecutive month in May to 11.3 million, according the Bureau of Labor Statistics. However, demand for workers is still strong."There are nearly two job openings for every unemployed person, a sharp reversal from the hist...
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European Recession Is Likely, Experts Say

A drop in gas flow from Russia to Europe is likely to tip the region's economy into a recession, according to Fitch Ratings. "Continued disruption of gas imports through the Nord Stream 1 pipeline, unless offset with higher flows via other pipelines, would hinder the continent's ability to meet gas needs during the peak winter heating season, despi...
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New Episode of Extra Credit Podcast is Here!

 This week's episode of NACM's Extra Credit #podcast is jam-packed with info for credit professionals! Predictive default risk modeling; succession planning; the June Credit Managers' Index ... learn about it all by listening here:https://www.buzzsprout.com/1927071/10885578
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Russia-Ukraine War Substantially Damaged Global Supply Chain, Report Says

Just when businesses thought the supply chain crisis couldn't get much worse, Russia's invasion of Ukraine disrupted global trade even further. The conflict has increased shipping costs, complicated logistics and increased transit times, according to a new report from the United Nations Conference on Trade and Development (UNCTAD)."The war in the U...
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US Consumer Confidence Hits 16-Month Low

Business owners aren't the only ones unsure about the future of the economy. The Conference Board's U.S. consumer confidence index fell to its lowest level in 16 months, dropping to 98.7, the Associated Press reported. And the expectations index, based on a six-month outlook for income, business and labor market conditions dropped to 66.4—its lowes...
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Listen to the Latest Extra Credit Episode!

 Listen up! ? This week's episode of NACM's Extra Credit #podcast is up ... and this is one you don't want to miss!Check it out here: Episode #13: The Roots of Supply Chain Disruptions Run Deep (buzzsprout.com)Have you thought of ALL the ways supply chain disruptions impact credit? Hear what challenges supply snags have created for two cr...
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Is a Gas Tax Holiday in the Cards? And Would it Actually Help?

President Joe Biden called on congress today to suspend the federal tax of 18 cents per gallon of gas and 24 cents per gallon of diesel until the end of September in attempts to ease price pressures at the pump. Biden also called on states to suspend their own gas taxes, as the cost for a gallon of gas sits at an average of $5 nationwide, according...
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Recession Fears Grow Rapidly After Fed Rate Hike

Talks of a recession have been swirling for months as the Federal Reserve continues to battle stubborn inflation. Economists started off somewhat conservative with their predictions of if and when the economy could slip into a crisis. But those same experts have rapidly increased their recession forecasts in recent days."Our worst fears around the ...
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The Latest Episode of Extra Credit Is Here!

Good morning credit professionals! ? Get your Friday started by listening to the latest episode of our Extra Credit #podcast (And make sure you subscribe on Spotify or Amazon Music so you never miss a notification ?)https://www.buzzsprout.com/1927071/10805708Did you know ... 44% of credit professionals still work remotely either part or full t...
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Federal Reserve Hikes Interest Rates Again … This Time by 0.75%

The Federal Reserve raised interest rates by 75 basis points today, the biggest rate hike since 1994. The Fed also hinted to more rate hikes in the future as it intensifies the fight against rising prices.This is the third time the central bank has raised interest rates this year, and experts have mixed feelings. Some are worried the aggressive app...
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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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