From Greg Mannarino's email newsletter:
So today, no surprise to any of us, we find out that US Business Activity is in literal freefall, contracting at its fastest pace EVER…The New York Fed’s Empire State business conditions index plunged 29.2 points in January to negative, or -43.7. Any reading below zero indicates deteriorating conditions.
This is what Fed. President Waller has to say about it (below).
If you can understand what the Fed. is successfully doing, and that is to DESTROY both the economy and the consumer, well then OF COURSE! The economic data FOR THE FED. is “almost as good as it gets.”