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.
Space Superiority Through the Spectrum of Conflict: Findings and Recommendations from the Conflict in Space Workshop
English Summary
The Mitchell Institute argues that the United States is already operating in a sustained 'gray zone' of space conflict, particularly concerning China. This ambiguity stems from space’s inability to conform to traditional legal or geographic constructs, which complicates attribution and allows adversaries to normalize coercive actions below clear thresholds of armed conflict. To counter this strategic challenge, the report recommends building combat credibility by establishing clearer international norms and frameworks, integrating allied forces and commercial partners, enhancing mission resilience, and sharpening decision-making processes.
中文摘要
米切爾研究所（Mitchell Institute）主張，美國目前已持續處於一場空間衝突的「灰色地帶」，尤其涉及中國。這種模糊性源於太空無法符合傳統的法律或地理構建，這使得歸因變得複雜，並允許敵對勢力將威脅行動常態化，使其低於明確武裝衝突的門檻。為應對這一戰略挑戰，報告建議透過建立更清晰的國際規範和框架、整合盟國軍力和商業夥伴、提高任務韌性以及完善決策流程等方式，來提升作戰信譽。
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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.
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