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.
Illegal Immigrant Incarceration Rates, 2010–2024: The Demographics of American Imprisonment
English Summary
A CATO study utilizing 2024 American Community Survey data reveals that both legal and illegal immigrants are significantly less likely to be incarcerated than native-born Americans. In 2024, native-born Americans had an incarceration rate of 1,195 per 100,000, compared to 674 for illegal immigrants and 303 for legal immigrants, a trend consistent since 2010. The findings suggest that mass deportation of illegal immigrants will not reduce crime rates, and policy should instead focus on removing non-citizen criminals while improving data collection on the immigration status of those arrested or convicted.
中文摘要
CATO研究所利用2024年美國社區調查數據發現，合法和非法移民的監禁率均顯著低於美國本土出生公民。2024年，美國本土出生公民的監禁率為每10萬人1,195例，而非合法移民為674例，合法移民為303例，此趨勢自2010年以來保持一致。研究結果表明，大規模驅逐非法移民並不能降低犯罪率，政策應轉而專注於遣返非公民罪犯，同時改進對被捕或被定罪者的移民身份數據收集。
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