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.
America at 250: The Spanish-American War, With H.W. Brands
English Summary
The Spanish-American War was less about Cuba and more about the United States' transition from a regional power to a global one. This shift was driven by a confluence of factors: rapid industrialization creating economic ambition, a desire to project power beyond the Western Hemisphere, and heightened nationalistic fervor, often amplified by the sensationalism of the 'yellow press.' The conflict demonstrated the U.S.'s capacity for military intervention and established its role as a major world power. Strategically, this event marked the permanent expansion of U.S. foreign policy interests, moving beyond the confines of the Monroe Doctrine and setting the stage for global engagement.
中文摘要
美西战争的意義，並非僅限於古巴，更體現了美國從區域強權轉型為全球性大國的過程。這一轉變是由多重因素匯集所驅動：快速的工業化激發了經濟野心；渴望將其影響力投射到西半球以外；以及國家民族主義情緒的高漲，而這些情緒常被「黃色媒體」的煽情報導所放大。這場衝突展示了美國進行軍事干預的能力，並確立了其作為主要世界強權的角色。從戰略角度來看，這一事件標誌著美國外交政策利益的永久擴張，使其超越了門羅主義的範圍，為其全球參與奠定了基礎。
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.