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.
First Ukraine, Now Iran: A New Era of Drone Warfare Takes Hold
English Summary
The article argues that the convergence of low-cost drone technology and precision guidance has ushered in an era of 'precise mass' warfare, first demonstrated in Ukraine and now fully manifest in the U.S.-Iran conflict surrounding Operation Epic Fury. The authors highlight a critical cost-exchange imbalance: defending against $20,000-$50,000 Shahed-136 drones requires interceptors costing $125,000 to $4 million each, rapidly depleting limited air defense stockpiles across the Gulf states and potentially drawing down Indo-Pacific reserves needed to deter China. The implications are stark—the U.S. must dramatically increase investment in attritable, scalable systems like LUCAS beyond the current 0.5% of defense spending, as precise mass capabilities are becoming a permanent feature of modern warfare that empowers both great powers and lesser states alike.
中文摘要
本文主張，低成本無人機技術與精準導引的匯流已開啟「精準量產」戰爭時代，此一趨勢首先於烏克蘭戰場展現，如今在美國與伊朗圍繞「史詩之怒行動」的衝突中全面顯現。作者指出一項關鍵的成本交換失衡：攔截單價僅兩萬至五萬美元的沙希德-136無人機，所需攔截彈造價卻高達十二萬五千至四百萬美元，這將迅速耗盡波灣各國有限的防空庫存，並可能抽調印太地區用以嚇阻中國的儲備。其影響極為嚴峻——美國必須大幅增加對LUCAS等可消耗、可規模化系統的投資，超越目前僅佔國防支出百分之零點五的水準，因為精準量產能力正成為現代戰爭的永久特徵，賦予大國與中小型國家同等的作戰能力。
Related Entries
-
1.
-
2.
The ongoing Ebola outbreak in the DRC serves as a critical warning that the global health security system is fundamentally unprepared for future biological threats. The difficulty in containing this outbreak is compounded by the rising risk of emerging pathogens and the growing potential for AI misuse in bioweapon development. Policy must therefore shift from reactive, crisis-driven funding to sustained, proactive investment in resilient public health infrastructure, particularly in conflict zones. Addressing this requires strengthening global surveillance, ensuring consistent international cooperation, and mitigating the intersection of conflict, climate change, and disease spread.
-
3.A Design Lab Pilot to Inform Strategies for Expanding Access to Medications for Opioid Use Disorder in Community Mental Health Centers (RAND)
Despite MOUD being the standard of care for opioid use disorder, access remains severely limited in Community Mental Health Centers (CMHCs), which serve the primary population with co-occurring disorders. A Design Lab pilot identified payment limitations and regulatory complexity as the chief barriers to implementation. The most feasible and high-impact strategy identified was establishing a structured learning exchange between CMHC leaders and insurers to improve reimbursement understanding. Policymakers and payers are therefore advised to pilot this learning exchange model to initiate broader payment reform and expand evidence-based care for this vulnerable population.
-
4.
The article argues that modern conflicts are increasingly defined by attrition, driven by three strategic gaps: the difference between nominal military power and usable capacity; the difficulty of achieving breakthroughs in a technologically advanced battlefield; and the detachment of military means from clear political objectives. Evidence from Ukraine and the Middle East demonstrates that sustained logistics, rapid technological adaptation, and proxy networks are now more decisive than sheer military size. For policymakers, this implies a strategic shift away from seeking short, decisive victories toward preparing for prolonged, high-cost engagements, requiring a focus on sustainable supply chains and defining concrete, attainable political end-states.
-
5.
Congress has significantly expanded presidential tariff authority by passing the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, allowing the executive to impose up to 100% tariffs on key buyers of Russian energy and sanctions enablers. The article argues that this legislation represents a dangerous abdication of Congress's Article I authority, as it grants the executive vast, discretionary power without specifying criteria for enforcement. Historically, the executive could claim tariffs were its own doing; however, by writing and passing this new authority, Congress now owns the resulting trade policy and its economic consequences. This shift implies that future tariffs will be viewed by the public as a direct legislative action, potentially undermining the administration's credibility and creating political vulnerability.