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.
Fiscal Year 2025 Assessment of the Civilian Acquisition Workforce Personnel Demonstration Project
English Summary
This RAND assessment evaluates the Civilian Acquisition Workforce Personnel Demonstration Project (AcqDemo), a long-standing DoD initiative designed to manage the civilian workforce supporting the Department of Defense's acquisition mission. The study employs extensive evidence, including administrative personnel data, Federal Employee Viewpoint Survey (FEVS) extracts, grievance data, and 85 stakeholder interviews. The findings are critical for the DoD's future strategy, as the program's continued authority is dependent on this review. Ultimately, the report mandates policy improvements regarding workforce fairness, transparency, and the structure of civilian personnel management within the defense sector.
中文摘要
本份由RAND所執行的評估報告，針對「民用採購工作人員示範計畫」（AcqDemo）。此計畫是國防部（DoD）一個長期運營的倡議，旨在管理支持國防部採購任務的民用員工隊伍。本研究採用了廣泛的證據，包括行政人員數據、聯邦員工觀點調查（FEVS）摘錄、申訴數據，以及來自85位利害關係人的訪談記錄。研究結果對於國防部未來的策略至關重要，因為該計畫的持續權威性取決於本次審查。最終，本報告要求在勞動力公平性、透明度，以及國防部門民用人員管理結構方面進行政策改進。
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