Income may be subject to the alternative minimum tax ( AMT ) and/or state and local taxes, based on the investor's state of residence. FOMC policy makers seem willing to let the dollar act as a substitute for further tightening while they await stronger economic data and evidence of core inflation growth that's closer to their 2 percent target. European Central Bank (ECB) chief Mario Draghi received a chilly response in suggesting no further rate cuts would be coming after unveiling a new easing package in early March.