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.
Good Riddance to EPA’s Endangerment Finding on Greenhouse Gases
English Summary
The Heritage Foundation argues that reversing the EPA’s endangerment finding on greenhouse gases is a major deregulatory victory that removes the legal basis for over $1 trillion in compliance costs. The article contends that the original finding relied on flawed climate models and created a false choice between economic prosperity and environmental protection. By dismantling these regulations, the administration aims to unleash the U.S. energy sector while promoting a model of 'stewardship' that balances industrial growth with responsible conservation.
中文摘要
傳統基金會（Heritage Foundation）主張，撤銷環境保護局（EPA）對溫室氣體的「危害認定」（endangerment finding）是一項重大的去管制化勝利，此舉消除了涉及超過一兆美元合規成本的法律依據。文章指出，最初的認定依賴於有缺陷的氣候模型，並在經濟繁榮與環境保護之間製造了虛假的對立。透過廢除這些法規，政府旨在釋放美國能源產業的潛力，並推廣一種在工業增長與負責任保育之間取得平衡的「管理責任」（stewardship）模式。
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