Thoughts

Talking Feds

Charles Evans said that unemployment is too high, inflation is too low and the recovery is too slow.

Dick Fisher sees inflationary pressures developing, and he is not supportive of further quantitative easing.

Two talking Feds spoke today.

1. Charles Evans, President of the Chicago Fed is a dove and predictably said that unemployment is too high, inflation is too low and the recovery is too slow. He, similar to Chairman Bernanke, supports ZIRP and a completion of QE2.

2. Dick Fisher, President of the Dallas Fed, is a hawk, and predictably, he sees inflationary pressures developing, and he is not supportive of further quantitative easing.

Run, don't walk, to read Matt Taibbi's "Why Isn't Wall Street in Jail?" in Rolling Stone.

Iran Warships in the Suez

Iran warships are about to cross the Suez Canal.

Minnesota Governor Mark Dayton proposed to raise the state's top individual tax rate temporarily to 13.95%.

Minnesota Governor Mark Dayton, heir to the Dayton Hudson fortune, might have the luxury to be able to afford much higher taxes, but the screwflation of the middle class is more than just a distraction. It will likely result in a less smooth and more uneven economic recovery than most expect, it and represents the single greatest challenge to self-sustaining domestic economic growth.

Watch retail sales in the months ahead -- carefully.

Run, don't walk, to read "Decoding the Economy's Mixed Messages" from Knowledge@Wharton.

The Jobs Report

The Apple guru is making headlines again today.

Unfortunately the big news overnight was about Steve Jobs' health.

Jobs and other tech industry leaders are scheduled to meet with President Obama today.