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.
DOL Inflates H-1 B Wages to Force Out Skilled Foreign Workers
English Summary
The Cato Institute argues that the Department of Labor’s proposed rule to inflate H-1B wages is unlawful and unnecessary, aiming to restrict the supply of skilled foreign workers rather than address genuine wage concerns. Evidence presented demonstrates that the proposed rule would disqualify over 80% of H-1B job offers, particularly for high-skilled workers like software developers, and would force many to leave the U.S. The DOL’s methodology relies on arbitrary percentile targets rather than market-based wage determination, ignoring the fact that H-1B workers are already paid above the average for their roles. This policy shift risks hindering business investment, job growth, and innovation within the tech sector.
中文摘要
Cato Institute 認為勞動部提出的提高 H-1B 簽證薪資的提案無效且多餘，旨在限制高技能外國勞工的供應，而非解決真正的工資問題。 提供的證據表明，該提案將使超過 80% 的 H-1B 就業機會資格失效，尤其對像軟體開發員等高技能工作者而言，並迫使許多人離開美國。 勞動部的研究方法依賴於任意百分位數目標，而非基於市場的工資決定，而忽略了 H-1B 勞工的工資已經高於其職位的平均水平。 這一政策變革可能會阻礙科技行業的投資、就業增長和創新。
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