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}A daily digest of opinions and analysisTax Reform and Unanswered QuestionsRepublicans revealed their long-awaited tax-reform proposals yesterday, but the so-called framework has more gaps than substance. Yes, the plan has large breaks for high earners and could squeeze the middle class, but as the BV editorial board argues, it's hard to judge its effects when so many essential details are left blank.Maybe the Inflation Model Is Off. Got a Better One? There's a relationship between unemployment and inflation. Or at least there used to be. Now, Daniel Moss notes, sharp central bankers from the U.S. to Australia are growing open to new ideas. Japan Has to Spend Less on the Well-Off ElderlyBenefit cuts are the least-bad option for an aging nation that lacks workers to support its retirees. And as Japan makes tough decisions, Noah Smith says America should take note.How Congress Governs The Federal ReserveThe popular view is that the Fed crafts monetary policy on its own, free from political interference. In reality, lawmakers depend on the central bank for career protection — and it's rarely pretty. In an adaptation from their new book "The Myth of Independence," Sarah Binder and Mark Spindel explain how the Fed and Congress are more interdependent than you might think.Before it's here, it's on the Bloomberg Terminal. Find out how the Terminal delivers information and analysis that financial professionals can't find anywhere else. Learn more.Ritholtz's ReadsPeak lithium? Not so fast.Tax-cut cash could wind up in unexpected placesThis is how far hedge funds will go for a measly 25 percent(Read Barry Ritholtz's full daily news roundup here.) Bloomberg GadflyPlatinum's lesson for lithium-ion batteriesYellen's masterful bond-market puppet showEquifax CEO gets a $7.6 million parting gift(Read more from BV’s sister site for fast business commentary.)Bloomberg L.P. ● 731 Lexington Avenue, New York, NY 10022Web ● Facebook ● TwitterFeedback ● Unsubscribe

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