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.
Evaluation of Cohort 3 of Project im PACT: A Reentry Program in Los Angeles
English Summary
This evaluation of Project imPACT found that comprehensive reentry programs for justice-involved individuals can successfully reduce recidivism risk by adopting a client-centered, holistic model. The program's success is attributed to its ability to expand access to culturally congruent mental health and substance use services while integrating behavioral, legal, housing, and employment support. Preliminary data indicated promising progress, with only 28% of participants being arrested post-enrollment. Policymakers should consider adopting integrated, community-based service frameworks that prioritize individual needs and lived experience to improve outcomes for vulnerable populations.
中文摘要
本次對 imPACT 專案的評估發現，針對參與司法系統的個人所設立的全面性重返社會計畫，若採用以客戶為中心、整體性的模式，能夠成功降低再犯風險。該專案的成效歸因於其擴大了文化適宜的精神健康和藥物濫用服務的可近性，同時整合了行為、法律、住房和就業支持。初步數據顯示出可喜的進展，在所有參與者中，首次被逮捕的比例僅為 28%。政策制定者應考慮採納整合性、社區導向的服務框架，將個人需求和生活經驗置於優先地位，以改善弱勢群體的處境。
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