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 New Chinese Way of Cyberwar
English Summary
The article argues that China is establishing digital chokepoints by penetrating critical U.S. infrastructure, creating a cyber asymmetry that gives Beijing a strategic advantage. This vulnerability is compounded by the decentralized nature and outdated hardware of American utilities. To counter this, the U.S. must leverage AI to create 'digital twins'—virtual replicas of critical systems—which allow for proactive stress-testing and vulnerability mapping. Policy recommendations include establishing a secure, national enclaved for AI testing, coupled with legal reforms (like safe harbor) and government-private partnerships to accelerate the necessary upgrades and secure the digital frontier.
中文摘要
本文提出,中國正透過滲透美國的關鍵基礎設施,建立數位瓶頸,從而創造出網路不對稱性,使北京獲得戰略優勢。美國的公用事業體系因其去中心化特性和過時的硬體結構,加劇了這種脆弱性。為應對此局面,美國必須利用人工智慧(AI)建立「數位<0xE5><0xAD><0xBF>生」(digital twins)——即關鍵系統的虛擬複本——從而實現主動的壓力測試和漏洞繪圖。政策建議包括設立一個安全的國家級AI測試隔離區,並結合法律改革(如安全港機制)以及政府與私人部門的夥伴關係,以加速必要的升級,鞏固數位前沿。
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