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 End of the Beginning in Venezuela
English Summary
The article argues that any potential military removal of Venezuelan President Maduro, while appearing to be a major tactical success for the U.S., does not represent the resolution of the country's crisis. It cautions that this event marks merely the 'end of the beginning,' signaling the start of a far more complex and perilous phase of intervention. The perceived finality of the situation is misleading, suggesting that U.S. policy must prepare for a prolonged and difficult struggle rather than celebrating a simple victory. Policymakers should anticipate sustained, high-difficulty engagement in the Western Hemisphere.
中文摘要
本文論述，即使美國對委內瑞拉總統馬杜羅進行的任何潛在軍事撤除，雖然看似是美國取得重大的戰術成功，但並不能代表該國危機的解決。文章警告，此事件僅標誌著「開始的結束」，預示著一個更為複雜且危險的介入階段的開始。目前認為的局勢終結性是具有誤導性的，暗示美國政策必須為一場長期且艱難的鬥爭做好準備，而非沉浸於簡單的勝利感。政策制定者應預期在西半球需要持續且高難度的投入。
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.