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 narrative on Taiwan needs an update
English Summary
The article argues that the U.S. must update its narrative on Taiwan, moving away from viewing the island as a 'strategic liability' or a single point of failure for the global economy. It highlights that Taiwan's hardware is the irreplaceable backbone of America's AI ambitions and that conflict with China is not inevitable if a credible military deterrent is maintained. The proposed policy shift emphasizes a middle path: preserving the status quo to allow for an eventual non-coercive resolution while grounding U.S. support in calculated self-interest rather than ideological charity.
中文摘要
本文主張美國必須更新其對台論述，不再將台灣視為「戰略負擔」或全球經濟的單點故障。文中強調，台灣的硬體實力是美國人工智慧（AI）雄心不可或缺的支柱，且若能維持具公信力的軍事威懾，與中國的衝突並非不可避免。擬議的政策轉向強調一條中間路線：維持現狀以尋求最終的非脅迫性解決方案，同時將美國的支持立基於精確計算的自身利益，而非意識形態的慈善行為。
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