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.
Trump Pledges ‘Demolition’ of Iranian Infrastructure as Deadline Looms
English Summary
According to CFR, President Trump has rejected Iran's ceasefire proposal and threatened a 'complete demolition' of Iranian infrastructure if a deal isn't reached by a looming deadline. This escalation follows Iran's counterproposal, which includes lifting sanctions and infrastructure reconstruction, and has been accompanied by reciprocal attacks between Iran, Israel, and Saudi Arabia. U.S. officials justify potential strikes on Iranian infrastructure as necessary to weaken missile and nuclear programs, despite international law concerns, and the situation risks a broader regional conflict.
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