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.
The Government Shouldn't Be Allowed to Conceal Sham Investigations
English Summary
CATO argues that current judicial interpretations of FOIA's Exemption 7 are flawed because some circuits apply a "per se" rule, automatically exempting any document compiled by law enforcement agencies regardless of its actual purpose. This interpretation contradicts the plain text of FOIA, which requires proof that records were compiled for legitimate law enforcement objectives. The pending Supreme Court case underscores this conflict, as broad exemptions allow the government to shield potential abuses and surveillance overreach from public scrutiny. Policy-wise, overturning the "per se" rule is critical to restoring transparency in federal governance and ensuring that public access remains an effective tool against governmental misconduct.
中文摘要
CATO主張，當前司法界對《資訊自由法案》（FOIA）第七條例外規定（Exemption 7）的解釋存在缺陷。部分法院採取了「本身即是」（per se）原則，自動排除任何由執法機構編纂的文件，而未考量其實際目的。此種解讀與《資訊自由法案》明文規定相牴觸，該法案要求必須證明記錄是為合法的執法目標所編纂。正在審理的最高法院案件突顯了這一衝突：過於寬泛的例外規定使得政府能夠將潛在濫用和監控過度行為隱藏於公眾監督之外。從政策層面來看，推翻「本身即是」原則對於恢復聯邦治理的透明度至關重要，並確保公眾資訊權利能持續作為制衡政府不當行為的有效工具。
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