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.
Iran Conflict Holds Lessons for U.S., Adversaries, INDOPACOM Commander Says
English Summary
Indo-Pacific Commander Adm. Samuel Paparo argues that the recent conflict with Iran, despite diverting assets, provides valuable lessons that will strengthen U.S. deterrence in the Indo-Pacific. The conflict demonstrated the power of asymmetric warfare and low-cost munitions, a capability that adversaries like China are studying for potential use against Taiwan. To maintain regional stability and 'overmatch' China's expected military expansion, the U.S. must urgently increase defense spending, modernize its fleet, and encourage the rapid innovation and production of advanced, non-traditional weapons systems.
中文摘要
印太司令官塞繆爾·帕帕羅（Samuel Paparo）海軍上將指出，近期與伊朗的衝突，儘管分散了軍事資產，卻提供了寶貴的經驗，有助於強化美國在印太地區的威懾能力。此次衝突展示了非對稱作戰和低成本彈藥的威力，而這正是中國等敵對勢力正在研究，以備潛在用於對台的戰術。為維持區域穩定並實現『壓倒性優勢』以應對中國預期的軍事擴張，美國必須緊急增加國防開支、現代化艦隊，並鼓勵先進、非傳統武器系統的快速創新與生產。
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