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.
A Year Later, Trump’s Big Beautiful Bill Act Has a Clean Tech Silver Lining
English Summary
Despite critics labeling it a disaster for eliminating wind/solar credits, Trump's One Big Beautiful Bill Act may offer a clean tech silver lining by preserving incentives for less mature energy sources like advanced nuclear and geothermal power. The analysis argues that while expanding mature technologies has limited global impact, funding the high initial costs of emerging solutions allows them to benefit from a 'learning curve,' making them globally affordable later. These reliable, non-variable sources complement existing renewables and could establish a foundational clean energy capacity for the US. Strategically, this development provides a potential counterweight to China's current dominance in global clean energy supply chains.
中文摘要
儘管批評者稱其為消除風能/太陽能抵免權的災難，但川普的《宏大美麗法案》（One Big Beautiful Bill Act）仍可能透過保留對先進核能和地熱能等較不成熟能源來源的激勵機制，提供清潔技術的亮點。該分析指出，雖然擴展已成熟的技術在全球影響有限，但為新興解決方案提供資金，使其能夠受益於「學習曲線」，從而達到全球可負擔性。這些可靠、非變動的能源來源可以補充現有的再生能源，並為美國建立基礎清潔能源能力。戰略上而言，這一發展也為對抗中國目前在全球清潔能源供應鏈中的主導地位提供了潛在的制衡力量。
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