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.
Personnel Vetting 101 Applicant Toolkit: Frequently Asked Questions and Common Misperceptions
English Summary
This RAND toolkit clarifies the complex, multi-layered U.S. government personnel vetting process, which determines an individual's suitability for everything from general employment to access to classified national security information. The guidance distinguishes between Suitability (general federal roles), Fitness (noncompetitive service/contractors), and Security Clearance eligibility, emphasizing that all USG employees undergo some form of vetting. A key finding is the absolute requirement for full transparency: applicants must answer every question completely and truthfully, as omitting or misrepresenting information constitutes a severe breach of trust. For policy makers, this underscores the need for standardized communication to ensure personnel are fully aware of the rigorous standards required to maintain employment eligibility and national security access.
中文摘要
這份RAND工具包闡明了美國政府複雜、多層次的員工審查程序。此程序決定了一名個體是否適合從一般職位到接觸機密國家安全資訊等各類工作。本指南區分了「適宜性」（Suitability，適用於一般聯邦職務）、「合適性」（Fitness，適用於非競爭服務/承包商）以及「安全許可資格」（Security Clearance eligibility），並強調所有美國政府（USG）員工都必須接受某種形式的審查。一個關鍵發現是：絕對要求完全透明化——申請人必須完整且真實地回答每一個問題，因為遺漏或虛報資訊構成嚴重的信任違規行為。對於政策制定者而言，這突顯了建立標準化溝通的重要性，以確保人員充分了解維持就業資格和國家安全存取所需的嚴格標準。
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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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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.