January 2024
The New Year Ahead
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S WE BEGIN ANOTHER YEAR, WE HAVE MUCH TO BE thankful for while cautiously looking ahead. We continue to be grateful for our RAN members and the collaborative work we do together for the future of the retail industry and our state. The economy will continue to be front of mind this year. With another record-setting holiday season, consumer confidence remains high. Despite the increased spending, consumer frustrations about the high cost of goods is getting louder, and this will likely be the case for the foreseeable future. Inflation has only begun to level off, and that alone won’t bring consumers relief. Whether the Federal Reserve has been successful in their ‘soft landing’, only time will tell. This will no doubt be a critical issue in this year’s presidential election and lawmaking in 2025. As we look at the election, at the top of the ballot, there is a very real chance we will see the second showdown between President Biden and Former President Trump. President Biden has not been wildly successful in resetting the economy; a ‘soft landing’ may not be enough to motivate his
By Mary Lau, RAN CEO
Mary Lau supporters in the election. While former President Trump hasn’t locked in the nomination, I expect he will do well in Nevada; his name identification far exceeds his opponents, and among his primary voters and caucus attendees, many agree with his positions on the 2020 election. He has a proven record of policymaking for a strong economy, but it’s unclear if he would have the same success again, should he be elected, in our current high inflation, high interest economy. There is a lot of forecasting taking place about the upcoming election. President Trump has always broken the models, but I do believe that a Biden/Trump election will drive turnout with Trump’s non-traditional voters far overshadowing the “Never Trumpers” wing of the party.
But also of note, Biden has already locked in an experienced Nevada team for his election. At the state level, this will be a critical election for control of the 2025 legislation session and, arguably, a preview for the 2026 gubernatorial election. Republicans must maintain or expand their razor thin margin, not allowing the Democrats to secure a super majority in both houses. This was made harder with the retirement of Senator Heidi Gansert in the Senate. Her seat, which would have been challenging for an incumbent to hold is going to be significantly harder for a Republican to win while open. For the first time in a long Continued on page 2
INSIDE Frontline of Healthcare: Recognizing the Contributions of Community Pharmacists.........2 Nevada Board of Pharmacy Update....................3 RAN 2023 Legislative Scorecard...........6, 7 2024 Election Playing Field Update.............................8 Call to Leadership: Nevada Small Business Owners, We N eed You.............9