On Tuesday, the FED president Jerome Powell said that the US economy has lost momentum, which sounded strange since the data has only been improving in the last several months, with most sectors of the economy booming.

The unemployment claims fell below 800K earlier today, while durable goods orders increased in January. So, Powell is quite out of touch with the reality, but he is quite old to be honest. Below is the report for January.

January 2021 US durable goods orders data

• January prelim durable goods orders +3.4% vs +1.1% expected
• December was +0.5% (revised higher to +1.2%)
• Core durables, excluding transportation +1.4% vs +0.7% expected
• December core orders were +1.1% (revised higher to +1.7%)
• Capital goods orders, non-defense, ex-air +0.5% vs +0.8% expected
• Prior capital goods orders, non-defense, ex-air +0.7% (revised to +1.5%)
• Capital goods shipments non-defense ex-air +2.1% vs +0.6% expected
• Prior capital goods shipments non-defense ex-air +0.7% (revised to +1.0%)