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.
Ebola Is Only the Beginning
English Summary
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.
中文摘要
持續在剛果（金）發生的伊波衛病毒疫情，警示全球衛生安全體系對於未來生物威脅的準備工作存在根本性不足。難以遏制此次疫情的困境，因新興病原體風險的上升，以及人工智慧（AI）在生物武器開發中濫用的潛力增長而加劇。因此，政策必須從被動的、危機驅動的資金投入，轉向對有韌性公共衛生基礎設施的持續、主動投資，尤其是在衝突地區。要解決此問題，必須加強全球監測、確保國際合作的穩定性，並減輕衝突、氣候變化與疾病傳播交集帶來的影響。
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