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.
OPM to GAO: Take A Hike
English Summary
The article details OPM's outright refusal to provide requested documentation and cooperation to the GAO regarding its reorganization plans, signaling a systemic challenge to Congressional oversight. The author argues that this non-compliance—treating statutory requirements as optional—mirrors broader executive trends of asserting power beyond congressional reach. This pattern suggests that traditional legislative tools (like audits and requests) are degrading into mere suggestions rather than enforceable mandates. Consequently, Congress and the public risk being left in the dark about how federal agencies are allocating taxpayer dollars and fulfilling their statutory missions.
中文摘要
本文詳細描述了人力資源管理機構（OPM）堅決拒絕向總會（GAO）提供其重組計畫所需的相關文件與配合，這代表著對國會監督機制發出了系統性的挑戰。作者指出，這種不合規行為——將法定要求視為可選而非強制——反映了行政部門更廣泛的趨勢：即試圖行使超出國會權限的權力。此種模式暗示，傳統的立法工具（如審計和資料請求）正逐漸淪為僅具建議性質，而非具有執行約束力的指令。因此，國會與公眾面臨的風險是，對於聯邦機構如何分配納稅人資金以及履行其法定職責，將缺乏透明資訊。
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