In anticipation of tomorrow’s rate decision, we saw another indicator today that the Federal Reserve has been successful in stemming the tide of inflation.

The US Purchasing Managers Composite Index (PMI) increased in January to 46.6 from 45 in December, representing a slowing economy but slightly less pessimistic than expected and better than the month before.

With France’s polls closing yesterday Emmanuel Macron will now serve a second consecutive term as the president of France, the first to do so since Jacques Chirac in 2002.