The article argues that the Federal Reserve's recent rate hike decision, while justifiable on inflation grounds, highlights a critical lack of an underlying, transparent policy framework. The core problem is that the Fed's decisions appear discretionary, leading to market uncertainty because the committee's judgment, rather than clear data, dictates policy shifts. The author proposes that the Fed adopt a formal monetary policy rule—an algebraic formula linking the target rate to indicators like inflation and unemployment—to replace subjective guidance. Implementing such a rule would provide market predictability, enhance transparency, and shield the Fed from political attacks by making deviations from the standard easily quantifiable.
When medicines are controlled: How Drug Enforcement Administration rules exacerbate drug shortages
English Summary
This Brookings event discusses how the Drug Enforcement Administration's (DEA) regulatory framework, particularly its quota system for Schedule II medicines, exacerbates persistent drug shortages in the United States. While these production limits aim to prevent the diversion of medications like opioids and ADHD treatments for illicit use, they often fail to account for manufacturing realities, leading to delays and rationing in patient care. The panel explores the intersection of federal regulation and supply chain stability, suggesting that reforms are necessary to balance public safety with the reliable availability of essential medicines.
中文摘要
這場布魯金斯學會（Brookings）活動探討了美國緝毒局（DEA）的監管架構，特別是針對第二類管制藥品的配額制度，如何加劇美國長期性的藥品短缺問題。雖然這些生產限制旨在防止鴉片類藥物和過動症（ADHD）治療藥物被挪作非法用途，但往往未能考慮到製造業的現實情況，導致患者照護的延誤與藥物配給。專家小組探討了聯邦監管與供應鏈穩定性之間的交集，並建議進行改革，以在維護公共安全與確保基本藥物穩定供應之間取得平衡。
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