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.
Trump’s Plan to Pull U.S. Troops from Europe Is Good for Everyone, and America Most of All
English Summary
The article argues that President Trump's plan to withdraw U.S. troops from Europe is strategically beneficial, asserting that the U.S. presence acts as an unnecessary 'glue' that prevents natural European self-sufficiency. Proponents argue that Europe has fundamentally changed, possessing nuclear deterrents and the capacity for regional defense, making American military dominance obsolete. Withdrawal will incentivize European states to rapidly rearm and form natural regional blocs, thereby restoring a balance of power without requiring constant American subsidies. Furthermore, reducing U.S. bases in Europe is presented as a positive development, as it limits American power projection and potential involvement in the Middle East.
中文摘要
本文論述川普總統計劃撤軍歐盟的舉措在戰略上是有益的，主張美國的存在扮演了不必要的「黏合劑」角色，阻礙了歐洲自然發展的自給自足能力。支持者認為，歐洲已發生根本性變化，擁有核威懾力量和區域防禦能力，使得美國的軍事主導地位已經過時。撤軍將激勵歐洲國家迅速重建軍備並形成天然的區域集團，從而恢復均勢，而無需持續的美國補貼。此外，減少美國在歐洲的基地也被視為一項積極發展，因為這限制了美國的戰力投射能力，並降低了其在中東地區的潛在介入程度。
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