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.
As border enforcement expands, ‘colonia’ communities are left without basic infrastructure
English Summary
Despite massive federal spending on border enforcement and surveillance, unincorporated 'colonia' communities along the U.S.-Mexico border are being left without basic infrastructure, including safe water, roads, and drainage. The report argues that this neglect is not accidental but is a direct consequence of fragmented governance and policy frameworks that prioritize security spending over civil infrastructure investment. Colonias, which are deeply embedded in rapidly growing economic regions, suffer from persistent poverty and limited services due to jurisdictional gaps and misaligned federal funding. Policy must therefore shift to integrate comprehensive civil infrastructure investment into border development strategies to address deep-seated socioeconomic inequality and support the region's growing population.
中文摘要
儘管聯邦政府在邊境執法和監控方面投入了巨額資金，但美國與墨西哥邊境沿線的未建制「科洛尼亞」（colonia）社區，卻缺乏基本的基礎設施，包括安全飲用水、道路和排水系統。本報告指出，這種忽視並非偶然，而是源於治理和政策框架的碎片化，導致政策將安全支出置於民用基礎設施投資之上。科洛尼亞社區深植於快速發展的經濟區域，但由於管轄權的空白和聯邦資金的分配失衡，持續面臨貧困和服務匱乏。因此，政策必須轉向整合全面的民用基礎設施投資到邊境發展戰略中，以解決根深蒂固的社會經濟不平等，並支持該地區不斷增長的人口。
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