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
Boost U.S. Competitiveness; Create U.S. Jobs?
Partly in an effort to boost the competitiveness of U.S. corporations and partly to induce those corporations to keep or return jobs to the U.S., President Obama proposed a reduction in the U.S. tax rate on corporate profits. Obama’s proposal reduces the standard corporate tax rate from 35% to 28% with a further reduction to 25% for corporations manufacturing in the U.S.» Read More