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.
The Return of the Alien Tort Statute
English Summary
The Alien Tort Statute (ATS) presents a growing legal risk for U.S. companies, particularly those in natural resource sectors, due to its ambiguous application to foreign human rights abuses. While the Supreme Court has repeatedly narrowed the statute's scope, significant legal uncertainty persists regarding corporate liability and establishing a sufficient 'nexus' between the alleged tort and the United States. This ambiguity complicates global business operations, forcing companies to navigate potential accusations of complicity in foreign labor or environmental violations. Policy-wise, the article stresses that a definitive Supreme Court ruling is critical, as it would provide much-needed legal clarity for both corporations assessing risk and plaintiffs pursuing claims.
中文摘要
《外國人侵權訴訟法》（Alien Tort Statute, ATS）因其對外國人權侵犯行為的適用模糊性，正為美國企業，特別是自然資源產業的企業帶來日益增長的法律風險。儘管最高法院已多次縮小該法規的適用範圍，但關於企業責任以及建立涉嫌侵權行為與美國之間足夠「關聯性」（nexus）的法律不確定性依然存在。這種模糊性複雜化了全球商業營運，迫使企業必須應對可能涉及參與外國勞工或環境違規行為的指控。從政策角度來看，本文強調，最高法院的明確裁決至關重要，因為這將為評估風險的企業和追訴索賠的原告雙方提供急需的法律明確性。
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