The article argues that current market borrowing costs are rising independently of the Federal Reserve's policy stance, challenging the assumption that the Fed controls all rates. Evidence shows significant increases in key rates—such as 2-year Treasuries and mortgages—even while the effective federal funds rate remains steady. This divergence occurs because market rates reflect complex factors like inflation expectations, credit risk, and geopolitical volatility, which are outside the central bank's direct control. Policymakers should therefore recognize that sustainable rate moderation requires credible disinflation and disciplined government budgets, rather than relying solely on Fed intervention.
Ten Commandments Ruling Underscores That Progressives Need School Choice
English Summary
The article argues that school choice is an essential policy for progressives as well as conservatives, particularly following a court ruling allowing religious displays in public classrooms. It highlights a Fifth Circuit decision overturning an injunction against a Louisiana law requiring the Ten Commandments to be posted, illustrating the ongoing legal shift toward allowing more religion in schools. The author concludes that since public schools cannot satisfy all diverse beliefs, educational funding should follow the student to ensure all families can access education aligned with their values.
中文摘要
本文主張教育選擇權對於進步派與保守派而言皆為不可或缺的政策，特別是在法院裁定允許公立教室進行宗教展示之後。文中強調了第五巡迴上訴法院撤銷路易斯安那州法律禁制令的判決（該法律要求張貼「十誡」），說明法律趨勢正轉向允許宗教更多地進入校園。作者總結指出，由於公立學校無法滿足所有多元信仰，教育經費應採行「經費隨學生走」的原則，以確保所有家庭都能獲得符合其價值觀的教育。
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