The Federal Reserve's core personal consumption expenditures price index, a critical inflation metric, rose mildly in July by 0.2% from June, supporting the Fed's inclination to reduce interest rates in September. With core PCE advancing at its slowest annual pace this year, and real consumer spending increasing by 0.4%, the data strengthens the case for easing monetary policy. Upcoming decisions will likely hinge on further labor market insights, with a pivotal jobs report expected before the next Fed meeting.

Efforts to avoid a strike by 45,000 dockworkers at US ports on the East and Gulf Coast are reaching a critical stage. The International Longshoremen's Association is seeking a significant wage increase roughly double what employers have offered. Workers are prepared to strike as early as Sept. 30 if a deal is not reached, potentially disrupting major ports amid the holiday season. Importers are currently rushing orders, leading to higher shipping rates.

The US labor market is expected to expand at a rate of 0.4% annually through 2033, a significant slowdown from previous decades, according to projections from the Bureau of Labor Statistics. This rate represents an addition of approximately 6.7 million jobs over the next decade, averaging about 55,000 jobs per month. The slow growth is attributed to a decrease in population expansion, with demographic shifts pointing to an aging population and consequent changes in labor force participation and industry demands.

Today's technology can offer multiple ways to transform the business of industrial distribution, but selecting the best solution for your operation can be overwhelming at times. This article shares insights from your fellow professionals about how five key areas, from inventory management to customer experience, in which technology can make a difference to your operation and bottom line.

Investing in AI will yield the most rewards if it is supported by a communications plan that helps employees prepare, writes Alon Peleg, CEO of aiOla. Leaders implementing AI tools have to balance a confident tone with empathy as employees react to new resources and learn how to use them.

Driver-facing cameras are becoming a topic of debate in the trucking industry, with some companies embracing the technology for safety and driver coaching capabilities. Privacy concerns have caused some companies to avoid installing the cameras, and experts say other advanced driver-assistance systems can offer similar benefits without compromising privacy.

AI can streamline content creation and enhance personalization, but it also poses risks like bias and false claims, according to Dee Blohm, senior vice president of marketing at Anteriad. Two-thirds of marketers prioritize authenticity, according to Anteriad's survey with Ascend2, and 49% believe they can balance using AI with maintaining authenticity.

B2B marketers are turning to video as a tool to take on competition, technological disruption and changing buyer behaviors. Executives from Merkle, LinkedIn and Initiative highlight video's role in building brands, reaching complex buying groups and making emotional connections.

The Federal Reserve is poised to cut interest rates in the coming weeks, with the size of the reduction hinging on upcoming employment data. Investors are keenly awaiting the August jobs report after July's data showed a rise in unemployment, triggering recession fears.

The NAW Company Roundtables are an exclusive community of thought leaders from Billion Dollar and Large Company distribution enterprises who congregate to network with non-competing peers in multiple lines of trade on key issues. Learn more about the many Roundtable event opportunities we offer, and how your leaders can get involved. Learn more.

Attending the Innovators Summit lets you stay updated with the latest industry developments and remain ahead of your competitors. By being aware of emerging trends and disruptive technologies, you can proactively adapt your business strategies, identify new revenue streams, and gain a competitive edge in the market. Learn more here.

Join us in Washington, D.C., January 27 -29, for NAW's Executive Summit, bringing together the best and brightest leaders from the wholesale distribution industry. Learn more here.