Defying the expectations of many, the U.S economy has demonstrated resilience driven in part by a solid employment report with stronger than expected wage growth during June, along with continued healthy levels of consumer spending. With this said, the U.S. economy has been slowed by the Federal Reserve’s aggressive drive to tame inflation through a series of interest rate hikes that began early last year. Although trending downward, with inflation remaining above its two percent target, the Federal Reserve is on track to raise interest rates again this month and mull another hike as soon as September. Despite elevated inflation, which is now easing, and ongoing fears of impending economic recession, unemployment rates remain low, and Americans continue to spend money on goods, services, and experiences.
Remington Hospitality, a dynamic hotel management company that manages 128 hotels across more than 20 brands, has welcomed Joseph Klam as Chief Financial Officer. Klam, who brings almost 40 years of industry experience, will lead efforts out of the company s corporate offices in Dallas and oversee financial planning, accounting, and global financial operations for Remington Hospitality.