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.
Failure to Act in Sudan (Again)
English Summary
The article argues that repeated atrocities in Sudan, exemplified by the anticipated violence in El Obeid following the massacre in El Fasher, demonstrate a profound failure of international powers to act decisively when warnings are issued. It notes that while global bodies and nations issue strong statements of concern, these words lack teeth because major actors fear imposing costs on external backers (like the UAE) or risking their own strategic interests. The authors conclude that meaningful intervention is hampered by geopolitical self-interest, leading to a cycle where suffering persists despite clear evidence of conflict drivers and humanitarian need.
中文摘要
本文論述，蘇丹持續發生的暴行——例如以法舍爾（El Fasher）大屠殺後預期的奧貝德（El Obeid）暴力事件為例——顯示了國際力量在收到警告時缺乏果斷行動的嚴重失敗。文章指出，儘管全球機構和國家發表了強烈的關切聲明，但這些言辭卻缺乏實質效力，因為主要行為者擔心對外部支持者（如阿聯酋）施加成本，或危及自身的戰略利益。作者們總結道，有意義的介入被地緣政治自利心所阻礙，導致一種痛苦持續的循環，儘管存在明確的衝突驅動因素和人道需求證據。
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