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.
Here’s How the Administration Plans to Spend the Largest Immigration Enforcement Funding Surge in History
English Summary
The article highlights a critical lack of transparency in the Department of Homeland Security's (DHS) spending of $191 billion from the One Big Beautiful Bill Act (OBBBA), particularly for Immigration and Customs Enforcement (ICE) and Customs and Border Protection (CBP). Despite significant apportioned funds, Congress lacks comprehensive public accounting of how the money is being obligated and spent, hindering effective oversight. For example, ICE's monthly expenditures have doubled, with billions allocated to detention facilities, while CBP has tens of billions for border wall construction. This situation weakens governmental checks and balances, leading to concerns about potential misuse of taxpayer resources. The author advocates for rescinding unobligated funds, funneling future allocations through regular appropriations, and enhancing reporting requirements to restore accountability.
中文摘要
文章指出，國土安全部 (DHS) 在「一項美麗法案」(One Big Beautiful Bill Act, OBBBA) 中獲得的 1,910 億美元撥款，特別是分配給移民及海關執法局 (ICE) 和海關及邊境保護局 (CBP) 的資金，存在嚴重的透明度不足問題。儘管獲得大量撥款，國會卻未能對資金的承諾和實際支出進行全面公開報告，這阻礙了有效的監督。例如，ICE 的每月支出翻倍，數十億美元撥給拘留設施，而 CBP 則獲得數百億美元用於邊境牆建設。這種情況削弱了政府的制衡機制，引發了對納稅人資源可能被濫用的擔憂。作者倡導撤回未承諾的資金，未來撥款應透過常規預算程序進行，並加強報告要求，以恢復問責制。
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