A key issue facing businesses and investors is whether the US January data reflects a reacceleration of the world's largest economy or whether it was mostly a payback for extremely poor November and December 2022 data and seasonal adjustments and methodological distortions. Given the centrality of the US economy and rates, it is not simply a question for America, the Federal Reserve, and investors, but the implications are much broader. The issue is unlikely to be resolved in the week ahead, but it may begin pointing to the direction ahead. To believe in the now much-touted "no-landing" or "soft landing ... (full story)