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The 10-Point: My Guide to the Day's Top News

The Wall Street Journal
Good morning,
Gorsuch Test
The coming vote on Judge Neil Gorsuch’s nomination to the Supreme Court puts Democratic senators from Republican-leaning states in a difficult position over their party’s wish to block President Trump. On Monday, the 20-member Senate Judiciary Committee is expected to vote largely along party lines to send the nomination to the floor, which will intensify the scramble for votes on both sides ahead of full-Senate consideration later in the week. Judge Gorsuch needs 60 votes to clear a procedural hurdle in the Senate. Republicans hold 52 seats, and three Democrats, all from states Mr. Trump won easily and all up for re-election next year, have said they would vote for him. If Republicans can’t secure the eight Democratic votes needed, they have threatened to change Senate rules to allow Judge Gorsuch—and future high-court nominees—to be approved with a simple majority.


Leaking Cash
American companies want employees to stop raiding their 401(k)s. In an attempt to ensure that older workers can afford to retire and make room for younger, less-expensive hires, employers are trying to better inform them of the cost of borrowing from retirement accounts and pulling the money out when they leave jobs. For employees who grew accustomed to borrowing from their accounts during the recession, the rising balances in 401(k)s—they hold $7 trillion, up from $4.2 trillion in 2009—are tempting. But tapping or pocketing retirement funds early, known in the industry as leakage, threatens to reduce the wealth in U.S. retirement accounts by about 25% when the lost annual savings are compounded over 30 years.
Moving Target
Just as inflation finally returns to the Federal Reserve’s 2% goal after nearly five years of undershooting it, economists and central bankers are starting to argue that rigid goals are misguided. Targets became a tenet for central bankers after inflation spikes during the 1970s and early 1980s, but today they’re confronted not by rising inflation but by aging populations, lower long-term growth and higher saving rates—all of which hold down the real natural interest rate. That raises the risk that as central banks cut rates to stimulate the economy in a downturn, they will run into zero. Economists are increasingly talking about approaches that would let inflation drift upward, though without resorting to a higher target. Although the Fed remains committed to a 2% goal, it shows signs of tilting in this direction.
How Would You Like Your Steak?
The revelation that President Trump orders his steak well-done has drawn attention to the long-suffering portion of the population that likes meat bloodless—about 19% of diners, according to one study. Many have grown accustomed to deep resistance, even condemnation, from restaurant staff, and a second helping of scorn from tablemates. Diners who like it well-done cite various reasons, from concern about bacteria in what they see as undercooked meat to squeamishness over red beef juice to a preference for a firm texture. Some say they like the flavor of char—despite studies linking burned meat with increased cancer risk. And we cite one fan who says when it is cooked right, a well-done steak can be as tender as any other.
Deadly Floods
That Was Painless
Colombian President Juan Manuel Santos pledged hundreds of thousands of dollars in aid for victims of a flood and mudslide in the country’s remote Putumayo state that left more than 200 people dead, as emergency teams continued to extract bodies and search for survivors in the mud and wreckage.

Raiders’ Exit Is a Loss for Oakland Workers, Touchdown for Taxpayers

Buying a Home This Spring Will Be Hardest in Years

Pressure Heats Up on Venezuelan President, Even as He Backs Down

Lenin Moreno Slightly Ahead in Ecuador’s Presidential Vote

Oil Companies’ Modest Prize: Breaking Even

Want That Apartment? You May Have to Bid For It

Fading Trade-Crackdown Fears Power Overseas Rebound

Active Managers Stage a Comeback
$52.6 billion
The value of dollar bonds issued in the first quarter by Chinese companies, up 72% from the previous quarter and nearly five times the year-earlier total.
To host a military parade commending yourselves in another country is as bold as you can get.
A former U.S. State Department official on Hezbollah militants’ parade in Qusayr, Syria, in November. The Lebanese group, labeled a terror organization by the U.S., has grown stronger through its support of the Syrian regime, fighting alongside Russian forces and training local Shiite fighters.
Going back to our story above, what do you think of the Fed’s 2% inflation target? Send your comments, which we may edit before publication, to Please include your name and location.
—Compiled by Margaret Rawson
Responding to Friday’s question on Mike Flynn’s offer to testify in exchange for immunity, Tim Calvin of California said: “This should be known as the ‘Scooter Libby Rule.’ No one should agree to talk to the authorities without invoking it.” David Lazarus of New Jersey commented: “Asking for immunity would signify that he is guilty of something. He wasn’t guilty of anything except a Democratic witch hunt while preparing for his new job.” Philip Gianas of Arizona wrote: “Immunity request denied. Now let’s see how many times Mr. Flynn pleads the Fifth to avoid incriminating himself in this so-called ‘witch hunt.’” And Garrett McDaniel of Pennsylvania shared: “Nothing says guilty like a request for immunity in exchange for telling the truth.”

This daily briefing is named “The 10-Point” after the nickname conferred by the editors of The Wall Street Journal on the lead column of the legendary “What's News” digest of top stories. Technically, “10-point” referred to the size of the typeface. The type is smaller now but the name lives on.

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