Morning Journal--Fed policy

Economics

   This Week’s Data

            The International Council of Shopping Centers reported weekly sales of major retailers up 4.7% versus the prior week and up 1.9% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales up 0.8% versus the similar time frame last month and up 3.5% on a year over year basis.

            February factory orders rose 3.0% versus expectations of an increase of 2.9% and versus the January reading of -2.0%.

            http://scottgrannis.blogspot.com/2013/04/factory-orders-jump.html

            March vehicle sales were flat.

            http://www.zerohedge.com/news/2013-04-02/domestic-car-sales-decline-third-month-hurricane-sandy-replacement-cycle-fades

   Other

            Wednesday morning humor (2 minute video):

            http://www.zerohedge.com/news/2013-04-01/spanish-entrepreneurs-solve-europes-banking-confidence-debacle

            Five lessons from the financial crisis (medium):

            http://blogs.wsj.com/economics/2013/04/01/olivier-blanchards-five-lessons-for-economists-from-the-financial-crisis/

            A great discussion on current Fed policy (medium):

            http://www.nakedcapitalism.com/2013/04/richard-alford-fed-policy-old-wine-in-new-bottles.html

Politics

  Domestic

Victor Hanson on immigration reform (medium):

http://www.nationalreview.com/articles/344420/compromised-immigration-reform-victor-davis-hanson

            George Mason University ranks the states on freedom (short):

            http://www.zerohedge.com/news/2013-04-02/north-dakota-new-york-freedom-50-states

  International

            Israel steps up pressure on Syria and Gaza (short):

            http://www.zerohedge.com/news/2013-04-02/israel-tank-fires-syrian-territory-even-it-launches-first-air-strike-gaza-november-t

            Meanwhile, North Korea continues its saber rattling (short):

            http://www.zerohedge.com/news/2013-04-02/last-symbol-inter-korea-cooperation-falls-north-bans-south-gaeseong

                And France pulls out all stops to over take North Korea as the most f**ked up country on the planet (medium):

            http://www.zerohedge.com/news/2013-04-02/hollandes-new-75-wealth-tax-catches-french-soccer-pros-offside