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 Cyber Strategy Fails to Address the Country’s Biggest Threats
English Summary
The Trump administration's new cyber strategy is dangerously inadequate, offering only four pages of substance while failing to even mention China, Iran, Russia, or North Korea as threats despite escalating cyber operations from these adversaries. The strategy privileges offensive capabilities over defense and deregulation over minimum security standards, yet U.S. Cyber Command lacks sufficient forces and experienced leadership, key diplomatic and civilian cyber offices have been gutted, and no framework exists for the private-sector offensive operations it envisions. The resulting gap between the administration's rhetoric of cyber dominance and its actual institutional capacity leaves U.S. critical infrastructure increasingly exposed to nation-state intrusions and ransomware at a moment when military operations abroad are generating new asymmetric retaliation risks.
中文摘要
川普政府的新網路安全戰略嚴重不足，實質內容僅四頁篇幅，甚至未將中國、伊朗、俄羅斯或北韓列為威脅，儘管這些對手的網路攻擊行動持續升級。該戰略重攻擊能力而輕防禦，偏好鬆綁監管而非建立最低安全標準，然而美國網戰司令部兵力不足且缺乏資深領導層，關鍵外交及民間網路安全機構已遭大幅裁撤，對於其所設想的民間企業攻擊性網路行動亦無任何規範框架。該政府在網路霸權論述與實際制度能力之間的巨大落差，使美國關鍵基礎設施在面對國家級入侵與勒索軟體攻擊時日益脆弱，而海外軍事行動正同時帶來新的不對稱報復風險。
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