January 30 and 31 will mark the first meeting of 2018 for the Fed Open Market Committee as well as the last meeting for Janet Yellen as Chair. As we move into the second full year of Trump’s presidency, the composition of the voting members of Board of Governors will change. Cleveland Fed President Loretta Mester, Richmond Interim Fed President Mark Mullinix (soon to be replaced by Thomas Barkin), Atlanta Fed President Raphael Bostic, and San Francisco Fed President John Williams will replace Chicago Fed President Charles Evans, Philadelphia Fed President Patrick Harker, Dallas Fed President Robert Kaplan and Minneapolis Fed President Neel Kashkari as the latter rotate from voting to non-voting members.» Read More
Governor Fortuno signed into law yesterday an amnesty for individuals or corporations who owe money to the Treasury Department of Puerto Rico. The amnesty period extends to February 29, 2012. Affected taxpayers can settle taxes they owe free of interest and penalties if they pay on or before said date. Consult your tax advisor to see if you are eligible.