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.
How the Big Beautiful Bill hurts the care economy
English Summary
The Brookings report argues that the One Big Beautiful Bill Act (OBBBA) threatens the U.S. care economy by severely restricting the immigrant labor force that sustains it. By increasing deportation funding, raising work permit fees, and stripping Medicaid and SNAP eligibility from many noncitizens, the law creates significant labor shortages in nursing homes and childcare centers. These disruptions are projected to lead to worsened health outcomes for vulnerable populations and higher costs for the broader healthcare system. To mitigate these risks, the report recommends state-level implementations of a Domestic Worker Bill of Rights to safeguard essential caregivers regardless of their immigration status.
中文摘要
布魯金斯學會（Brookings）的報告指出，《大而美法案》（OBBBA）藉由嚴格限制支撐美國照護經濟的移民勞動力，對該體系構成威脅。該法案透過增加遣返經費、提高工作許可規費，並取消多數非公民獲得聯邦醫療補助（Medicaid）與補充營養協助計畫（SNAP）的資格，導致療養院與托兒中心面臨嚴重的勞動力短缺。預期這些衝擊將導致弱勢族群的健康狀況惡化，並增加整體醫療體系的成本。為降低風險，報告建議州政府層級應實施《家政勞工權利法案》，以保障不論其移民身分的關鍵照護人員。
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