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.
Report Says U.S. Struck Iran School
English Summary
A U.S. military investigation reveals that outdated targeting data led to a Tomahawk missile strike on an Iranian elementary school, resulting in at least 175 civilian deaths at the onset of the war. This tragedy highlights the impact of a 90 percent reduction in specialized Pentagon teams dedicated to minimizing civilian casualties during military operations. The mounting human toll and associated global energy disruptions are shifting the conflict toward a prolonged struggle of political endurance, while complicating U.S. diplomatic relations with key allies like Spain.
中文摘要
美軍一項調查顯示，因目標數據過時，導致戰斧飛彈誤擊伊朗一所小學，在戰爭爆發之初造成至少 175 名平民死亡。這場悲劇凸顯了五角大廈專責在軍事行動中減少平民傷亡的專業團隊裁減 90% 所產生的影響。日益增加的人命損失與全球能源供應中斷，正使這場衝突演變為一場長期的政治耐力賽，同時也令美國與西班牙等關鍵盟邦的外交關係更趨複雜。
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