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.
UPDATED: U.S. Strikes in Caribbean, Eastern Pacific Kill 5
English Summary
U.S. forces conducted multiple strikes against suspected narcotics trafficking vessels in the Caribbean and Eastern Pacific, resulting in at least five deaths as part of Operation Southern Spear. These strikes were justified based on intelligence confirming the vessels' involvement in drug trafficking, though the GAO notes fentanyl primarily enters via land routes. The ongoing operation, which has seen 57 strikes since September 2025, highlights a continued U.S. military response to drug trafficking despite a reduced naval presence in the region. This strategy raises questions about the effectiveness of direct military action versus addressing upstream supply chains and land border security.
中文摘要
美國軍方在加勒比海和東太平洋地區發動多次針對疑似販毒船隻的行動，造成至少五人死亡，這是「南方長矛」行動的一部分。這些行動的依據是情報顯示這些船隻參與了毒品交易，儘管美國政府責任評估署（GAO）指出，芬太尼主要透過陸路進入。自2025年9月以來，該行動已執行57次，凸顯了美國軍方持續以軍事手段應對毒品交易問題，即使該地區的海軍力量有所縮減。此策略引發了對直接軍事行動有效性與解決上游供應鏈及加強陸地邊境安全之間的問題的質疑。
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