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.
Upcoming U.S. Depot in the Philippines to Support Fueling of Navy Destroyers, Combat Logistics Force Ships
English Summary
The Pentagon is establishing a Defense Fuel Support Point in Davao Gulf, Philippines, with 41 million gallons of fuel capacity to support U.S. Navy destroyers and logistics ships, expected operational by April 2028. The facility addresses the vulnerability of Cold War-era logistics hubs like Subic Bay to Chinese military threats while supporting regional allies including Japan and Philippine forces. Located near the Sulu Sea and the first and second island chain chokepoint, it reduces U.S. reliance on exposed infrastructure vulnerable to Beijing's military footprint. The DFSP reflects broader U.S. strategy to distribute logistics nodes across the Indo-Pacific to maintain operational resilience in potential Taiwan or South China Sea contingencies, though it faces local political opposition from Davao City leadership.
中文摘要
美國國防部（Pentagon）正在菲律賓的達沃灣（Davao Gulf）建立一個國防燃料支援點（Defense Fuel Support Point），該設施具備四一 million 加侖的燃料儲存能力，旨在支援美國海軍的破壞者和後勤艦艇，預計於 2028 年 4 月投入營運。此設施旨在解決冷戰時期後勤樞紐，如蘇里海灣（Subic Bay），對於中國軍事威脅的脆弱性，同時也將支援日本和菲律賓等區域盟國。由於其地理位置靠近宿霧海（Sulu Sea）以及第一和第二島鏈的關鍵水道（chokepoint），該點能降低美國對易受北京軍事足跡威脅的暴露基礎設施的依賴。該國防燃料支援點反映了美國更廣泛的戰略，即將後勤節點分散至印太地區，以維持在潛在的台灣或南海危機中的作戰韌性，儘管該計畫面臨達沃市地方政治的反對。
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