SATURDAY, JUNE 18th
POP UP SHOP @ Guam Premier Outlets
10:00 am - 2:00 pm
See you there!
Emergency Session to Address Liquid Fuel Tax Proposals
Your Guam Chamber submitted a letter to the Legislature urging the body to come together to support relief for the people of Guam.

Let your voices be heard - contact your senators today to support relief at the pump!
We are very excited to launch our first episode of the Chamber Member Spotlight Podcast featuring guest speaker, Chelsa Chester, owner of Island Skin Spa.

Small Businesses are the backbone of any community, they provide much-needed services and products, employ our residents, pay taxes, and give back to our community in a number of ways. This podcast and future member spotlight episodes will feature our fearless small business members! This is a great first podcast - listen to Chelsa's story today!


Wednesday, June 29, 2022
General Membership Meeting
11:30 a.m., Micronesian Room
Hilton Guam Resort & Spa
We are pleased to announce that Mr. Frank Ishizaki, Instructor of Legal Studies, Expert in Residence, School of Business & Public Administration, University of Guam, and Former Chief of the Guam Police Department, Former DOC Director, and Former FBI will be our guest speaker this month.

Please join us on Wednesday, June 29th at the Micronesia Room, Hilton Guam Resort & Spa. Reserve your seat today!
We have met capacity for our June 30th seminar!
If you missed the deadline, we've got you
We are at capacity for the June 30th event, however, we have made arrangements with our presenter, Toshie Ito, Motiva Training & Consulting, to hold another seminar to accommodate additional requests to participate. The next seminar is scheduled for Tuesday, July 19th from 8:30 - 11:00 am at the Guam Chamber's Meeting Room in Hagåtña. Ms. Ito will speak on: 31 Tips for Successful Employee Management.

We'd like to thank Ms. Ito for her kind accommodation! If you would like to participate, please RSVP today as seats are limited and will be assigned on a first-come - first-served basis.

Applications now available:
2022 - 2023 Dave J. Santos Scholarship
We are excited to bring back this great scholarship opportunity for Juniors and Seniors enrolled at the University of Guam!

The Chamber established this program in honor of the late Dave J. Santos, past Chamber Board Chairman and Guam's 1993 Small Business Person of the Year. A strong advocate of local entrepreneurship, it was Dave's vision to start a scholarship fund to assist business students enrolled in the University of Guam's School of Business and Public Administration.

The scholarship is open to full-time Juniors or Seniors enrolled at the UOG School of Business & Public Administration. Students with a genuine interest in promoting entrepreneurship are invited to apply. Call or click the links for more information.

View former interns Jeannie Nguyen and Celia Anderson's testimonies of their internship with the Guam Chamber on our FB page here.

APPLICATION DEADLINE:
Chamber group health plan:
DID YOU KNOW?
 
Travel to the Philippines has opened up. To enter the Philippines, you will need your Travel Certification Letter. Contact Calvo's SelectCare within two weeks of departure, via phone or email at service@calvos.com, and provide us with your dates of travel.

Ask SelectCare about our group Health Insurance Plan!
Call (671) 472-6311 for details.
Welcome New Member
Guam Philharmonic Foundation, Inc

1-844-487-4364
maestroguam@guamphilharmonic.org
Maximo Ronquillo, Jr.
Board President & Chair
Jenny Yang
Director of Development & Community Relations

We stand with the Action PAC
Do you believe it's time to make a difference in our community? If you want to influence change in our legislature, we encourage your support of ACTION PAC. 

Learn more by clicking on the PAC's news page and engage with the PAC by joining its membership (its free!) or by following and interacting with the PAC on social media! Click on their website for details!

Be a Force for Positive Change! #JointhePAC and #TakeActionGuam
BECOME A MEMBER FOR FREE
REGISTER TO VOTE
DONATE TO THE PAC
U.S Chamber Updates
What the Fed’s Rate Hike Means for the Economy

The Federal Reserve increased its key interest rate, the Federal Funds rate, by 0.75%. It now sits at a range of 1.5% to 1.75%. It was 0% in March.

Why it matters: The Fed indicated previously that it would raise the rate by 0.50%. Usually, the Fed sticks to setting policy as it indicated. 
  • News last week that inflation rose in May to a 40-year high of 8.6% pushed the Fed’s hand.

Be smart: Higher interest rates will tamp down demand by consumers and businesses. 
  • The things consumers use credit to buy – homes, cars, electronics, appliances, vacations, and other bigger-ticket items – will be more expensive. Demand will decline, which will reduce price pressures. 

  • The same applies to business investment. The cost of borrowing will rise for businesses, making fewer investments profitable. This will mean less investment spending. 

Looking ahead: Monetary policy can lag. It will take two years, into 2024, until tighter monetary policy will bring inflation down to the Fed's 2% target.
  • Inflation expectations of consumers, businesses, and financial markets could help bring inflation down in the near term if they believe the Fed's actions will be effective in reducing inflation.

  • Businesses should brace for reduced demand in the coming months. The chances of a recession are rising because inflation is proving so stubborn.

Bottom line: Consumers, businesses, and financial institutions are in much better shape now than they were before the 2007-2008 financial crisis. A recession, should it occur, would be short. And as long as inflation subsides, we would be in for a period of strong growth after the recession. 

Looking ahead: We will soon post on uschamber.com a primer on monetary policy, inflation, recession fears, and what a recession would mean.
—Curtis Dubay, Senior Economist, U.S. Chamber of Commerce

Articles of Interest: 






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Happy Father's Day Weekend to all our Chamber Dads!
Have a wonderful weekend!