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.
America’s school boards
English Summary
U.S. school boards, as locally controlled democratic institutions, faced unprecedented political polarization in the early 2020s over pandemic policies and contentious cultural issues including race, gender, and sexuality. Brookings research surveying nationally representative board members alongside media and election analysis reveals deep conflicts between local governance autonomy and national political polarization. Many school boards struggle with capacity, accountability, and representation while serving as the most accessible democratic forum for community engagement. The findings demonstrate how traditionally non-partisan local institutions have become focal points for national culture-war conflicts, highlighting tensions in American federalism.
中文摘要
美國學區董事會作為地方控制的民主機構，在二十一世紀二十年代初期，因疫情政策以及涉及種族、性別和性取向等爭議性文化議題，面臨史無前例的政治極化。布魯金斯智庫對全國代表性董事會成員的調查，結合媒體和選舉分析，揭示了地方治理自主權與國家政治極化之間的深刻衝突。許多學區董事會在履行社區參與最容易接觸的民主論壇職能的同時，也面臨能力、問責和代表性方面的困境。研究結果顯示，傳統上非黨派的地方機構，已成為國家文化戰爭衝突的焦點，突顯了美國聯邦制體系中的張力。
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