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.
Here’s How Much Aid the United States Has Sent Ukraine
English Summary
Total U.S. aid to Ukraine reached $188 billion by late 2025, though no new aid legislation has been passed since April 2024, leading European contributions to collectively surpass U.S. support. While the Trump administration continues to deliver previously appropriated funds and facilitates third-party weapon transfers via the PURL program, it has shifted the U.S. stance toward acting as an impartial peace broker. This development underscores a significant pivot in transatlantic burden-sharing and suggests a potential winding down of direct American military assistance.
中文摘要
截至 2025 年底，美國對烏克蘭的援助總額已達 1,880 億美元，然而自 2024 年 4 月以來未再通過新的援助法案，使得歐洲的集體貢獻已超越美國。雖然川普政府持續交付先前撥款的資金，並透過 PURL 計畫促進第三方武器轉讓，但美國的立場已轉向扮演公正的和平調停者。此一發展凸顯了跨大西洋責任分擔的重大轉向，並預示美國直接軍事援助可能逐步減少。
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