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 to Revoke Legal Basis for Key Climate Regulations
English Summary
The Trump administration has announced plans to revoke the 2009 Endangerment Finding, a move described as the largest deregulatory action in U.S. history that removes the legal basis for capping greenhouse gas emissions under the Clean Air Act. The administration argues that eliminating these regulations will reduce energy costs and bolster American energy dominance, though the decision faces immediate legal challenges that could reach the Supreme Court. This policy pivot risks ceding leadership in the global electric vehicle and clean energy transition to China while further isolating the United States from international climate cooperation.
中文摘要
川普政府宣布計劃撤銷 2009 年的《危害認定》（Endangerment Finding），此舉被描述為美國歷史上規模最大的去管制行動，移除了《清潔空氣法》（Clean Air Act）下限制溫室氣體排放的法律基礎。政府辯稱，取消這些法規將降低能源成本並鞏固美國的能源主導地位，儘管這項決定立即面臨可能上訴至最高法院的法律挑戰。這項政策轉向可能導致美國在全球電動車與潔淨能源轉型中的領導地位讓予中國，並使美國在國際氣候合作中更加孤立。
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