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.
President Trump’s support declines sharply in rural America
English Summary
Trump's approval ratings have collapsed among rural voters who previously supported him overwhelmingly, with his net approval among all rural voters falling from +20 to -14 since early 2025, and from +27 to -6 among white rural voters. This decline is driven by economic hardship: 77% of white rural voters rate the economy as fair or poor, farm bankruptcies surged 46% in 2025 due to tariffs and immigration restrictions, and manufacturing employment has fallen 77,000 jobs since Trump took office. The shift threatens Republican turnout in the 2026 midterms, particularly in swing rural areas like Iowa where GOP House seats are now considered toss-ups, as reduced rural enthusiasm could allow Democrats to gain ground despite limited defection to the Democratic Party.
中文摘要
川普在先前壓倒性支持他的農村選民中的支持率大幅下滑。自2025年初以來，其在全體農村選民中的淨支持率從+20跌至-14，在白人農村選民中則從+27跌至-6。經濟困難是推動此一下滑的主要因素：77%的白人農村選民評估目前經濟狀況為一般或較差，2025年農場破產件數因關稅與移民限制措施而激增46%，自川普上任以來製造業就業人數已減少77,000個職位。此一轉變威脅共和黨在2026年中期選舉中的投票率，尤其在愛荷華州等搖擺農村地區，共和黨眾議院席位目前已成為競爭激烈的選舉。農村地區選民熱情度的下降可能使民主黨獲得優勢，儘管實際轉向民主黨的選民數量仍有限。
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