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.
Report to Congress on U.S. Army’s Dark Eagle Hypersonic Weapon
English Summary
The U.S. Army is developing the Dark Eagle Long-Range Hypersonic Weapon (LRHW), a sophisticated ground-launched system designed for conventional precision strikes against time-sensitive, heavily defended targets. The weapon combines a common booster missile with a maneuverable Common Hypersonic Glide Body (C-HGB), enabling speeds exceeding Mach 5 and enhancing survivability against interception. This capability significantly expands the U.S. military's strike depth and precision, representing a major strategic escalation in the ability to project power into contested environments.
中文摘要
美國陸軍正在開發「暗鷹遠程高超音速武器」（Dark Eagle Long-Range Hypersonic Weapon, LRHW）。這是一種複雜的地面發射系統，專為對時間敏感、防禦嚴密的目標執行常規精準打擊而設計。該武器結合了通用助推器飛彈和可機動的通用高超音速滑翔體（Common Hypersonic Glide Body, C-HGB），使其能夠達到超過五倍音速的速度，並提高對攔截的生存能力。此項能力極大地擴展了美國軍隊的打擊深度和精準度，代表著在交戰環境中投射力量能力的一項重大戰略升級。
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