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.
How Rafael Grossi Would Lead the United Nations: Three Interview Takeaways
English Summary
Rafael Grossi argues that the UN requires a proactive, 'realist' leader to revitalize its mission and restore global trust amid mounting crises. He draws on his experience at the IAEA, citing his ability to manage complex, high-stakes negotiations in conflict zones, such as preventing a nuclear accident in occupied Ukraine. His strategy emphasizes taking the initiative to forestall conflict and maintaining constant engagement with the Security Council, even when consensus is difficult. Ultimately, Grossi suggests that by exercising diplomatic authority and restoring trust among major powers, the UN can overcome its funding and institutional challenges.
中文摘要
拉斐爾·格羅西（Rafael Grossi）主張，聯合國需要一位積極主動、具備「現實主義」思維的領導者，才能在日益嚴峻的全球危機中重振其使命並恢復國際信任。他援引在國際原子能機構（IAEA）的經驗，強調自己在衝突地區管理複雜、高風險談判的能力，例如阻止烏克蘭佔領區發生核事故。他的策略重點在於主動採取行動預防衝突，並即使在達成共識極為困難時，仍維持與安全理事會的持續參與。最終，格羅西提出，唯有透過行使外交權威並重建主要大國之間的信任，聯合國才能克服其在資金和制度上的挑戰。
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