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.
Filling the "Missing Middle" to Scale Energy Breakthroughs: Public, Private, and Philanthropic Solutions
English Summary
A critical funding gap—the 'missing middle'—prevents promising energy companies and projects from scaling in the US, slowing technologies needed for energy security, affordability, and sustainability. This gap disadvantages American firms against Chinese and international competitors in clean energy innovation. CFR's Climate Realism Initiative addresses this through 'Financing the Missing Middle,' a policy collection offering strategies to bridge the gap through coordinated public, private, and philanthropic solutions.
中文摘要
一個關鍵的資金缺口——即「缺失的中間環節」（missing middle）——阻礙了美國有前景的能源公司和項目擴大規模，從而減緩了能源安全、可負擔性與永續性所需技術的發展。此缺口使美國企業在清潔能源創新方面處於對抗中國和國際競爭者的劣勢地位。CFR的氣候現實主義倡議（Climate Realism Initiative）透過「為缺失的中間環節提供資金」（Financing the Missing Middle）來應對此問題，這是一份政策彙編，提供協調的公共、私人和慈善解決方案，以彌補資金鴻溝。
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.