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Consumer Spending and Consumer Sentiment. (Photo: AP)

Consumer Spending and Consumer Sentiment. (Photo: AP)

The Survey of Consumers, a closely-watched gauge of consumer sentiment, improved from initial estimates in April and the 2018 average is the highest in 18 years. The Index of Consumer Sentiment rose from initial estimates to 98.8, though that’s still slightly down from the enormously strong March reading of 101.4.

Current Economic Conditions came in at 114.9 and the Index of Consumer Expectations improved to 88.4.

“Consumer sentiment improved slightly in the 2nd half of the month, shrinking the small overall decline for April,” Richard Curtain, the chief economist for Survey of Consumers said. “The final April figure was nearly identical to its 2018 average (98.9)-which was higher than any other yearly average since 107.6 was recorded in 2000 (which was, in turn, the highest yearly average in more than a half century).”

The comments about the Tax Cuts and Jobs Act (TCJA) had a positive impact, though the trade tariffs fueled a negative impact.

The difference in the Expectation Index was striking: positive views on tax reform had Index values 28 points higher than those who made no mention of the tax reform legislation, and negative views on tariffs had Index values that were 28 points lower than those who didn’t spontaneously mention trade,” Mr. Curtain added. “Aside from the offsetting impact of Trump’s tax and tariff policies, the best simple summary of the current state of consumer confidence is that the economy is ‘as good as it gets.'”

Consumers do not expect an economic downturn anytime soon, though the stronger and longer expansion of economic activity have made consumers somewhat skeptical about future trends. Overall, the data are consistent with a growth rate of 2.7% in real personal consumption in the year ahead.

That matches the consumer spending data in the gross domestic product (GDP) report released by the Bureau of Economic Analysis (BEA) earlier Friday. The BEA said the U.S. economy grew at a faster than expected pace in first-quarter (1Q) 2018.

The Survey of Consumers, a closely-watched gauge

Workers assemble built-in appliances at the Whirlpool manufacturing plant in Cleveland, Tennessee August 21, 2013. (Photo: Reuters)

Workers assemble built-in appliances at the Whirlpool manufacturing plant in Cleveland, Tennessee August 21, 2013. (Photo: Reuters)

The U.S. economy grew at a stronger-than-expect pace in the first-quarter (1Q) 2018, according to the “advance” estimate by the Bureau of Economic Analysis (BEA). Gross domestic product (GDP) grew at an annual rate of 2.3% after increasing by 2.9% in 4Q 2017.

The “second” 1Q GDP estimate based on more complete data will be released on May 30, 2018.

Personal income increased $182.1 billion in 1Q 2018, which followed an increase of $186.4 billion in 4Q 2018. Worth noting, declines in personal interest income, rental income, and nonfarm proprietors’ income were offset by gains in wages and salaries and in government social benefits.

Personal current taxes decreased $40.1 billion in 1Q juxtaposed to an increase of $50.1 billion in 4Q 2018. Disposable personal income rose $222.1 billion, or 6.2%, after an increase of $136.3 billion, or 3.8%, in 4Q.

Real disposable personal income rose 3.4% after gaining 1.1% in the previous quarter.

Personal saving was $462.1 billion in 1Q, which compares with a $379.8 billion gain in 4Q. The personal saving rate — personal saving as a percentage of disposable personal income — came in at 3.1% in 1Q after a smaller 4Q 2.6% rise.

The 2017 Tax Cuts and Jobs Act includes provisions that impact the personal income statistics in the National Income and Product Accounts.

The U.S. economy grew at a stronger-than-expect

South Korean President Moon Jae-in and North Korean leader Kim Jong Un meet in the truce village of Panmunjom inside the demilitarized zone separating the two Koreas, South Korea, April 27, 2018. (Photo: Korea Summit Press Pool/Pool via Reuters)

South Korean President Moon Jae-in and North Korean leader Kim Jong Un meet in the truce village of Panmunjom inside the demilitarized zone separating the two Koreas, South Korea, April 27, 2018. (Photo: Korea Summit Press Pool/Pool via Reuters)

North Korean leader Kim Jong Un and South Korean President Moon Jae-in pledged on Friday to work for the “complete denuclearization of the Korean peninsula.”  The historic meeting started with the two shaking hands over a concrete curb that marked the heavily fortified Demilitarized Zone (DMZ) between the nations.

Kim became the first North Korean leader since the Korean War to step over the border and set foot in South Korea. He also unexpectedly invited Moon to step briefly across into North Korea, before the two leaders crossed back into South Korea holding hands.

Kim penned a message of peace in South Korea’s guestbook before talks began at the Inter-Korea summit.

“A new history starts now. An age of peace, from the starting point of history,” Kim wrote in Korean at the South’s Peace House.

The first summit in more than a decade resulted in an agreement to work with the United States (US) and China to declare an official end to the 1950s Korean war and seek an agreement to establish “permanent” and “solid” peace.

“The two leaders declare before our people of 80 million and the entire world there will be no more war on the Korean peninsula and a new age of peace has begun,” the declaration said.

North Korean leader Kim Jong Un shakes hands with South Korean President Moon Jae-in as both of them arrive for the inter-Korean summit at the truce village of Panmunjom, in this still frame taken from video, South Korea April 27, 2018. (Photo: Host Broadcaster via REUTERS TV)

North Korean leader Kim Jong Un shakes hands with South Korean President Moon Jae-in as both of them arrive for the inter-Korean summit at the truce village of Panmunjom, in this still frame taken from video, South Korea April 27, 2018. (Photo: Host Broadcaster via REUTERS TV)

According to the declaration, President Moon has also agreed to visit Pyongyang later this year. In a show of good faith, the two leaders agreed to open a liaison office, to stop broadcasting propaganda, to stop conducting leaflet drops along the border and to allow families divided by the DMZ to meet.

The Demilitarized Zone (DMZ) is a 160-mile (260-km) long, 2.5-mile (4-km) wide strip of land created in the 1953 armistice to serve as a buffer between the South and North.

“We will make efforts to create good results by communicating closely, in order to make sure our agreement signed today before the entire world, will not end as just a beginning like previous agreements before today,” Kim said after the agreement was signed.

President Donald Trump confirmed that Mike Pompeo met with Kim during Easter weekend to gauge the potential for a summit. Kim announced last Friday that he has suspended Pyongyang’s nuclear testing program, including a freeze on intercontinental ballistic missile tests and closing a nuclear site.

The extraordinary development came after North Korea announced they dropped demands for a freeze to U.S.-South Korea joint military exercises and the withdrawal of U.S. troops as preconditions for talks.

Both decisions handed the Trump Administration an enormous foreign policy victory. President Trump reacted to the pledge to end the war on Twitter.

“After a furious year of missile launches and Nuclear testing, a historic meeting between North and South Korea is now taking place. Good things are happening, but only time will tell!” he wrote. “KOREAN WAR TO END! The United States, and all of its GREAT people, should be very proud of what is now taking place in Korea!”

If the summit is held, it would be the first-ever between the U.S. and North Korea after more than six decades of hostility. The North and South remain in a technical state of war. The 1950-53 Korean War ended with an armistice, not a peace treaty.

Previous summits in Pyongyang, one in 2000 and another in 2007, failed to denuclearize the peninsula, to stop North Korea’s nuclear weapons programs or improve relations in any meaningful way.

North Korean leader Kim Jong Un and

Broward Sheriff Scott Israel, left, shouts at National Rifle Association (NRA) Spokesperson Dana Loesch during a CNN town hall meeting, at the BB&T Center, in Sunrise, Florida, U.S. February 21, 2018. (Photo: Reuters)

Broward Sheriff Scott Israel, left, shouts at National Rifle Association (NRA) Spokesperson Dana Loesch during a CNN town hall meeting, at the BB&T Center, in Sunrise, Florida, U.S. February 21, 2018. (Photo: Reuters)

The Broward Sheriff’s Office Deputies Association said Thursday Sheriff Scott Israel overwhelmingly lost a vote of no confidence by union members. The outspoken gun control zealot refused to take responsibility for the failures surrounding the February 14 shooting at Marjory Stoneman Douglas High School in Parkland.

Union President Jeff Bell said the top issue was his handling of the tragedy that left 17 people dead. Sheriff Israel, a Democrat, has mocked and denounced the no confidence vote. Last week, he called it a union tactic to get pay raises. He continued to do so after the results of the vote.

“I am accountable to the citizens of Broward County,” Sheriff Israel said. “My job is to continue to do the job I was elected to do, which is to ensure the safety of Broward County’s 1.9 million residents. I will not be distracted from my duties by this inconsequential IUPA union vote, which was designed to extort a 6.5 percent pay raise from this agency.”

He also claimed that the vote isn’t representative of the entire union, stating those who participated “reflect only a small number” and overall deputies “solidly support the leadership of this agency.”

However, the Broward Sheriff’s Office Deputies Association started the vote last Friday and members have been casting ballots electronically since Friday. The Deputies Association is a chapter of the International Union of Police Associations, representing 1,050 members. Its contract covers 1,300 deputies and sergeants and the vote was open to all of them.

Only 94 members cared enough to vote in support of Sheriff Israel and Mr. Bell vehemently denied the vote was an attempt to extort a pay raise. He said the union has a “long laundry list” of grievances surround Sheriff Israel, who was accused of public corruption two years ago.

It’s not a secret that Broward County has a major problem with public corruption, including their elections.

Republican Florida Governor Rick Scott has thus far ignored calls from state legislators and parents to suspend him after the shooting. However, 534 out of 628 union members (85%) voted “no confidence” in Sheriff Israel and plan to send the results to Governor Scott.

They are urging him to “replace the sheriff with somebody who is capable of amazing leadership.”

“Amazing leadership starts from the top, and there is no amazing leadership here,” Mr. Bell said. “We are a ship out at sea with no power — adrift.”

The Broward Sheriff’s Office Deputies Association announced

Senator Robert Menendez (D-N.J.) leaving the podium after speaking to the media during a news conference in Newark, New Jersey, April 1, 2015. (Photo: Reuters)

Senator Robert Menendez (D-N.J.) leaving the podium after speaking to the media during a news conference in Newark, New Jersey, April 1, 2015. (Photo: Reuters)

The Senate Ethics Committee issued Bob Menendez, D-N.J., a rare Public Letter of Admonition for violating federal law and chamber rules by taking undisclosed gifts in exchange for political favors. Mr. Menendez, who avoided conviction in a federal corruption trial last year, was ordered to “repay the fair market value of all impermissible gifts not already paid.”

“The Committee has found that over a six-year period you knowingly and repeatedly accepted gifts of significant value from Dr. Melgen without obtaining required Committee approval, and that you failed to publicly disclose certain gifts as required by Senate Rule and federal law,” the six members wrote.

Senator Menendez was accused of using his office to help Dr. Salomon Melgen, a Florida ophthalmologist, donor and longtime friend. Mr. Melgen, 62, was accused of over-billing by the Centers for Medicare and Medicaid Services (CMS), and pleaded guilty to conspiracy to commit fraud.

He was further charged with bribery in connection with roughly $1 million in gifts to Mr. Menendez, who is up for reelection this year. The senator’s prosecution ended in a mistrial last November after 10 weeks in court, but salacious allegations went far beyond corruption.

The Senate Ethics Committee, which reopened its probe into Mr. Menendez in November, concluded that he used his position “as a Member of the Senate to advance Dr. Melgen’s personal and business interests.”

“Your assistance to Dr. Melgen under these circumstances demonstrated poor judgment, and it risked undermining the public’s confidence in the Senate,” the letter states. “As such, your actions reflected discredit upon the Senate.”

Federal prosecutors at one time claimed to have “corroborating evidence” that he was paying for underage prostitutes while in the Dominican Republic. However, a judge dismissed all charges against Mr. Menendez on January 31, after prosecutors decided not to pursue a second trial.

The Senate Committee specifically addressed that outcome, stating it “neither enforces nor supplants the Senate’s rules or standards of conduct, and the Committee’s action stands independent from that result.” Their decision to issue the Letter of Admonition is the harshest action taken by the committee in years.

Mr. Menendez, the son of Cuban immigrants, was appointed to the U.S. Senate by then-Gov. John Corzine in January 2006. He was elected to a full term later that year and was re-elected again in 2012.

The National Republican Senatorial Committee (NRSC) jumped on the letter, saying in a statement that the Letter of Admonition “should outrage every New Jersey voter.”

“The Senate Ethics Committee found what was already crystal clear from Menendez’s criminal trial — Bob Menendez is a crook and an embarrassment,” said Bob Salera, a spokesman for the NRSC.

Nevertheless, several sources on both sides of the aisle tell People’s Pundit Daily (PPD) that they not only don’t expect him to step down in disgrace, but also that they don’t expect him to lose the role of Ranking Member of the Foreign Relations Committee.

[pdfviewer width=”740px” height=”849px” beta=”true/false”]https://www.peoplespunditdaily.com/wp-content/uploads/2018/04/Senator-Robert-Menendez-Public-Letter-of-Admonition.pdf[/pdfviewer]

The Senate Ethics Committee issued Bob Menendez,

Central Intelligence Agency Director Mike Pompeo testifies before the U.S. Senate Select Committee on Intelligence on Capitol Hill in Washington, U.S. May 11, 2017. (Photo: Reuters)

Central Intelligence Agency Director Mike Pompeo testifies before the U.S. Senate Select Committee on Intelligence on Capitol Hill in Washington, U.S. May 11, 2017. (Photo: Reuters)

The U.S. Senate on Thursday voted 57 – 42 to confirm the nomination of Mike Pompeo for Secretary of the State Department. Senate Democrats sought to stall and block his confirmation, despite his key role in the progress the Trump Administration has made toward a diplomatic denuclearization of North Korea.

The vote, which can largely be divided among party lines, not only means a major victory for the Trump Administration but also that the denuclearization of the Korean peninsula more likely.

A few vulnerable Red State Senate Democrats announced they would vote “Yea” to confirm. Last Friday, Senator Heidi Heitkamp, D-N.D., became the first to buck party leadership. Senator Joe Manchin, D-W.Va., announced earlier Monday he would vote “Yes,” and Senator Joe Donnelly, R-Ina., followed shortly after.

Roll Call

Story Continued After Table

Yeas Nays
Alexander (R-TN) Baldwin (D-WI)
Barrasso (R-WY) Bennet (D-CO)
Blunt (R-MO) Blumenthal (D-CT)
Boozman (R-AR) Booker (D-NJ)
Burr (R-NC) Brown (D-OH)
Capito (R-WV) Cantwell (D-WA)
Cassidy (R-LA) Cardin (D-MD)
Collins (R-ME) Carper (D-DE)
Corker (R-TN) Casey (D-PA)
Cornyn (R-TX) Coons (D-DE)
Cotton (R-AR) Cortez Masto (D-NV)
Crapo (R-ID) Duckworth (D-IL)
Cruz (R-TX) Durbin (D-IL)
Daines (R-MT) Feinstein (D-CA)
Donnelly (D-IN) Gillibrand (D-NY)
Enzi (R-WY) Harris (D-CA)
Ernst (R-IA) Hassan (D-NH)
Fischer (R-NE) Heinrich (D-NM)
Flake (R-AZ) Hirono (D-HI)
Gardner (R-CO) Kaine (D-VA)
Graham (R-SC) Klobuchar (D-MN)
Grassley (R-IA) Leahy (D-VT)
Hatch (R-UT) Markey (D-MA)
Heitkamp (D-ND) Menendez (D-NJ)
Heller (R-NV) Merkley (D-OR)
Hoeven (R-ND) Murphy (D-CT)
Hyde-Smith (R-MS) Murray (D-WA)
Inhofe (R-OK) Peters (D-MI)
Isakson (R-GA) Reed (D-RI)
Johnson (R-WI) Sanders (I-VT)
Jones (D-AL) Schatz (D-HI)
Kennedy (R-LA) Schumer (D-NY)
King (I-ME) Shaheen (D-NH)
Lankford (R-OK) Smith (D-MN)
Lee (R-UT) Stabenow (D-MI)
Manchin (D-WV) Tester (D-MT)
McCaskill (D-MO) Udall (D-NM)
McConnell (R-KY) Van Hollen (D-MD)
Moran (R-KS) Warner (D-VA)
Murkowski (R-AK) Warren (D-MA)
Nelson (D-FL) Whitehouse (D-RI)
Paul (R-KY) Wyden (D-OR)
Perdue (R-GA)
Portman (R-OH)
Risch (R-ID)
Roberts (R-KS)
Rounds (R-SD)
Rubio (R-FL)
Sasse (R-NE)
Scott (R-SC)
Shelby (R-AL)
Sullivan (R-AK)
Thune (R-SD)
Tillis (R-NC)
Toomey (R-PA)
Wicker (R-MS)
Young (R-IN)

The Senate Foreign Relations Committee voted Monday to confirm Mr. Pompeo by an 11-9-1 vote, also along party lines.

But it only came after libertarian-leaning Senator Rand Paul, R-Kty., reversed his opposition to Mr. Pompeo, who previously served as the Director of the Central Intelligence Agency (CIA). Had Senator Paul not changed his mind, it would’ve still been possible for him to become the first secretary of state nominee to be rejected by the committee since at least 1925.

Senator Chris Coons, D-Delaware, voted “present” to offset the proxy vote of Senator Johnny Isakson, R-Ga., who was absent attending a funeral when the committee voted. However, Majority Leader Mitch McConnell, R-Kty., said he would bring the nomination before the entire U.S. Senate this week no matter of the committee’s decision.

But a failure to clear the vote would have been an embarrassment for the White House and the nation.

President Trump confirmed that Mr. Pompeo met with Kim Jong Un during Easter weekend to gauge the potential for a summit with South Korea and the United States (US).

Kim Jong Un announced last Friday that he has suspended Pyongyang’s nuclear testing program, including a freeze on intercontinental ballistic missile tests and closing a nuclear site. The extraordinary development came after North Korea announced they dropped demands for a freeze to U.S.-South Korea joint military exercises and the withdrawal of U.S. troops as preconditions for talks.

The decision handed the Trump Administration an enormous foreign policy victory.

If the summit is held, it would be the first-ever between the U.S. and North Korea after more than six decades of hostility. The North and South remain in a technical state of war. The 1950-53 Korean War ended with an armistice, not a peace treaty.

Kim is scheduled to hold talks with South Korean President Moon Jae-in next week and with U.S. President Trump in late May or early June.

Meanwhile, the State Department already announced Mr. Pompeo’s first foreign trip.

“U.S. Secretary of State Mike Pompeo will travel to Brussels, Riyadh, Jerusalem, and Amman, April 26-30,” Department Spokesperson Heather Nauert said in a statement to People’s Pundit Daily (PPD). “The Secretary will travel to Brussels April 26-27, where he will meet with NATO Secretary General Jens Stoltenberg and participate in the NATO Foreign Ministerial, during which Allies will discuss preparations for July’s NATO Summit of Heads of State and Government meeting.”

Following Brussels, Secretary Pompeo will travel to the Middle East, where he will meet with Saudi, Israeli, and Jordanian leaders “to discuss critical regional and bilateral issues.”

UPDATE: After nearly a year of Democrats obstructing the vote, the U.S. Senate also confirmed Richard Grenell  as U.S. Ambassador to Germany. He is the first openly gay ambassador to serve in that role.

The U.S. Senate on Thursday voted 57

This May 19, 2014 photo shows a a sign in front of the Veterans Affairs building in Washington, DC. (Photo: Reuters)

This May 19, 2014 photo shows a a sign in front of the Veterans Affairs building in Washington, DC. (Photo: Reuters)

Admiral Ronny Jackson, MD has withdrawn as the nominee for Secretary of the Department of Veterans Affairs (VA) amid attacks and unsubstantiated allegations. President Donald Trump nominated Admiral Jackson after removing David Shulkin, a scandal-laden holdover from the Obama Administration.

Mr. Shulkin’s days were numbered after an inspector general report found he doctored an email and made false statements to create a pretext for taxpayers to cover for the cost of his wife’s trip to Europe last summer.

Read the IG report, here.

Democrats, led by vulnerable incumbent Senator Jon Tester, D-Mt., led a political attack with unsubstantiated allegations that were anonymously sourced, despite glowing performance evaluations from Barack Obama. The allegations ranged from mishandled prescription drugs to crashing a government vehicle.

Worth noting, the White House refuted the charges and the U.S. Department of Defense could not substantiate the allegations.

Review of Admiral Ronny Jackson under the Obama Administration.

Review of Admiral Ronny Jackson under the Obama Administration.

Admiral Jackson called the allegations “baseless.”

“I think it’s despicable and he should be ashamed of himself,” Senate Majority Whip John Cornyn, R-Tx., said of his colleague. “It just goes to show you how far people are willing to stoop.”

Review of Admiral Ronny Jackson under the Obama Administration.

“I think it’s sad.”

Review of Admiral Ronny Jackson under the Obama Administration.

Review of Admiral Ronny Jackson under the Obama Administration.

President Trump reacted to the development and the role Mr. Tester played.

“I think this is going to cause Jon Tester a lot of problems,” President Trump said.

There are more than 200 nominees who have been held up or derailed by Senate Democrats.

Admiral Ronny Jackson, MD has withdrawn as

U.S. jobless claims graph on a tablet screen.

U.S. jobless claims graph on a tablet screen.

The Labor Department said first-time jobless claims fell to the lowest level for initial claims since December 6, 1969 for the week ending April 21. There were a seasonally adjusted 209,000 initial applications for state unemployment benefits, a decrease of 24,000 from the previous week’s revised level and the lowest since they were 202,000.

The previous week’s level was revised up by 1,000 from 232,000 to 233,000. While extended benefits were payable in the Virgin Islands during the week ending April 7 and procedures in Puerto Rico and in the Virgin Islands have still not returned to normal, the report bodes very well for the monthly jobs report.

The 4-week moving average fell by 2,250 from the previous week’s revised average, which was revised up by 250 from 231,250 to 231,500.

Lagging Claims Data

The advance seasonally adjusted insured unemployment rate was 1.3% for the week ending April 14, unchanged from the previous week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending April 14 was 1,837,000, a drop of 29,000 from the previous week’s revised level. The previous week’s level was revised up 3,000 from 1,863,000 to 1,866,000.

Lagging claims data also made history.

The 4-week moving average was 1,849,750, a decrease of 9,750 from the previous week’s revised average. This is the lowest level for this average since January 5, 1974 when it was 1,838,500. The previous week’s average was revised up by 750 from 1,858,750 to 1,859,500.

Unemployment Insurance Rates By State

The highest insured unemployment rates in the week ending April 7 were in the Virgin Islands (5.3), Alaska (3.1), New Jersey (2.7), Connecticut (2.4), Puerto Rico (2.4), California (2.2), Massachusetts (2.1), Pennsylvania (2.1), Illinois (2.0), Montana (2.0), and Rhode Island (2.0).

The largest increases in initial claims for the week ending April 14 were in New York (+15,397), California (+3,954), Connecticut (+2,268), Kentucky (+282), and Utah (+66), while the largest decreases were in New Jersey (-5,902), Pennsylvania (-2,731), Texas (-2,410), Ohio (-1,626), and Missouri (-1,120).

The Labor Department said first-time jobless claims

A Boeing 737 MAX plane is seen during a media tour of the Boeing 737 MAX at the Boeing plant in Renton, Washington December 7, 2015. (Photo: Reuters)

A Boeing 737 MAX plane is seen during a media tour of the Boeing 737 MAX at the Boeing plant in Renton, Washington December 7, 2015. (Photo: Reuters)

The U.S. Census Bureau said new durable goods orders in the U.S. nearly doubled the 1.7% median economic forecast for the month of March. The revised data from February also showed a stronger than previously-reported month.

New Orders

New orders for manufactured durable goods in March increased $6.4 billion or 2.6% to $254.9 billion, the U.S. Census Bureau announced today. This increase, up 4 of the last 5 months, followed a 3.5% February increase. Excluding transportation, new orders were virtually unchanged. Excluding defense, new orders increased 2.8%. Transportation equipment, also up four of the last five months, drove the increase, $6.4 billion or 7.6% to $91.4 billion.

New orders for durable goods in February were revised up from $498.0 billion to $499.3 billion.

Shipments

Shipments of manufactured durable goods in March have been up 10 of the last 11 months, and rose $0.7 billion or 0.3% to $250.0 billion in March. This followed a 0.7% gain in February. Transportation equipment, which have been up 4 of the last 5 months, drove the gain again, rising $1.5 billion or 1.8% to $83.4 billion.

Shipments in February were revised to $500.0 billion, down from $500.5 billion.

Unfilled Orders

Unfilled orders for manufactured durable goods have been up 6 of the last 7 months, increasing $9.3 billion or 0.8% to $1,154.0 billion in March. This followed a 0.3% gain in February. Transportation equipment, which has been up 3 of the last 4 months, led the increase rising $8.0 billion or 1.0% to $782.8 billion.

For February, unfilled orders were revised up to $1,144.7 billion from $1,142.8 billion.

Inventories

Inventories of manufactured durable goods have been up 20 of the last 21 months, and increased $0.3 billion or 0.1% to $411.0 billion in March. This follows a 0.4% gain in February and both Fabricated metal products and Machinery led the increase.

Fabricated metal products have been up for 15 consecutive months, and in March gained $0.3 billion or 0.6% to $52.0 billion. Machinery, which has been up 4 of the last 5 months, rose $0.3 billion or 0.4% to $70.8 billion

Total inventories were revised down slightly to $675.1 billion from $675.2 billion.

Capital Goods

Non-defense new orders for capital goods in March rose $4.7 billion or 6.0% to $83.1 billion. Shipments increased $1.7 billion or 2.2% to $76.9 billion. Unfilled orders increased $6.3 billion or 0.9% to $716.1 billion. Inventories decreased $0.5 billion or 0.3% to $182.5 billion. Defense new orders for capital goods in March increased $0.1 billion or 0.9% to $10.6 billion. Shipments decreased $0.3 billion or 2.7% to $10.6 billion. Unfilled orders increased less than $0.1 billion or virtually unchanged to $140.7 billion. Inventories also increased less than $0.1 billion or 0.2% to $23.3 billion

The U.S. Census Bureau said new durable

The U.S. Supreme Court on Wednesday heard oral arguments in the case of Trump v. Hawaii, a case involving the enforcement of a travel ban on six majority-Muslim countries. The Court ruled 7 – 2 in December 2017 that the Trump Administration could fully enforce the order.

The two short briefs (available here and here), which represented a major victory for the White House, came after nearly a year of legal challenges and judicial activism in lower courts.

The “Executive Order Protecting The Nation From Foreign Terrorist Entry Into The United States” cited the president’s authority granted by the U.S. Constitution and the U.S. Congress, specifically the Immigration and Nationality Act (INA) of 1952.

Whenever the President finds that the entry of any aliens or of any class of aliens into the United States would be detrimental to the interests of the United States, he may by proclamation, and for such period as he shall deem necessary, suspend the entry of all aliens or any class of aliens as immigrants or nonimmigrants, or impose on the entry of aliens any restrictions he may deem to be appropriate.

Attorney General Jeff Sessions issued a statement about the case before arguments were heard.

“President Trump has been steadfast in his commitment to the safety and security of all Americans. The Constitution and Acts of Congress confer on the President broad discretion and authority to protect the United States from all foreign and domestic threats,” Attorney General Sessions said. “After multiple agency heads conducted a comprehensive, worldwide review of foreign governments’ information-sharing practices and other risk factors, President Trump determined this travel order is critical to protecting the American people.”

The People’s Pundit Daily (PPD Poll) Big Data Poll has repeatedly found majority support for President Trump’s executive order. He issued the first within days of being inaugurated and rewrote it in an attempt to address the concerns of the 9th Circuit.

The initial executive order came on the heels of the DHS revealing nearly a third of the 1,000 domestic terrorism cases currently being investigated by the Federal Bureau of Investigation (FBI) involve those admitted to the U.S. as refugees.

Officials said some of those 300 came to “infiltrate” the U.S., while others were radicalized once they were in the country. The report represented the first official solid tie between the refugee resettlement program and an increase in domestic terrorism.

However, unlike the initial order, the revised executive action detailed categories of people eligible to enter the U.S. for business or medical travel purposes. It also no longer suspended Syrian refugee admissions indefinitely and excluded Iraq. Still, lawyers for the state of Hawaii, the most liberal state in the country, moved for a temporary restraining order on March 15, the day before the new executive order was supposed to take effect.

TRANSCRIPT

[pdfviewer width=”740px” height=”849px” beta=”true/false”]https://www.peoplespunditdaily.com/wp-content/uploads/2018/04/Trump-et-al-v-Hawaii-et-al-SCOTUS.pdf[/pdfviewer]

The U.S. Supreme Court heard oral arguments

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