The Federal Reserve is cutting interest rates for the first time since 2020, announcing a half-point reduction that comes amid signs of a slowing labor market. A post-meeting statement noted that the Federal Open Market Committee "has gained greater confidence that inflation is moving sustainably toward 2%, and judges that the risks to achieving its employment and inflation goals are roughly in balance."

Shepherd Electric Supply, a subsidiary of Graybar, has leased an 85,750-square-foot distribution center in Chesterfield, Va. The move is expected to support the Clayton, Mich., company's rapid growth in the mid-Atlantic region.

US retail sales unexpectedly rose by 0.1% in August, driven by strong online purchases that offset declines in auto dealership receipts, according to the Commerce Department. The 0.1% gain follows a revised 1.1% jump in July. Core retail sales, excluding autos, gasoline, building materials and food services, rose 0.3%.

Truck driver detention at shipper facilities is causing significant safety and economic issues, with lengthy delays leading to increased crash rates, billions of dollars in lost productivity and supply chain inefficiencies, according to an American Transportation Research Institute report. Some fleets may charge a detention fee, but less than half are paid. The Federal Motor Carrier Safety Administration is studying the issue, but logistical challenges and insufficient shipper awareness are hindering solutions.

The Biden administration responded to a request by 177 trade associations to intervene to avert a potential strike at ports in the Gulf of Mexico and along the East Coast by declining, saying it will not invoke the Taft-Hartley Act and encouraged continued negotiations as the Oct. 1 deadline nears. Air freight, one of the contingency options, may experience extremely high volumes and rate increases if a strike takes place.

Extreme heat increasingly endangers workers in various industrial settings, leading to health risks and reduced productivity. Wearable hydration monitors, heat-detecting mobile apps, cooling fabrics and advanced air-handling systems are ways industrial firms can protect employees from heat-related issues and maintain a safe, productive work environment.

Business-to-business marketers share the digital trends and tools helping them engage more effectively with prospects, including video storytelling, influencer content and LinkedIn Live and its Creator Mode. "[W]ith more B2B decision-makers coming from younger generational cohorts, video is a powerful medium for humanizing B2B brands and building relatability," says Merkle's Pete Stein.

Ernst & Young's latest research highlights a disconnect between supply chain executives and C-suite leaders, with 88% of supply chain heads viewing their role as vital for customer experience, while an equal percentage of C-suite executives see it as a cost center. The EY 2024 Supply Chain Survey stresses the need for a paradigm shift in how organizations perceive and invest in supply chains to thrive amid growing complexity.

With 86% of employees feeling their voices are ignored, leadership coach Lolly Daskal outlines seven strategies to ensure employees feel heard including fostering psychological safety, providing multiple channels for feedback, acting on that feedback and promoting positive collaboration. "Show your team that their input has real implications by implementing changes based on their suggestions. This not only improves the workplace but also reinforces the value of their contributions," Daskal writes.

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.

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.

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.