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.
A Conversation With Foreign Minister George Gerapetritis of Greece
English Summary
Greek Foreign Minister George Gerapetritis argued that Europe is in a transition period requiring both stronger strategic autonomy and continued transatlantic cohesion, rather than a rupture with the United States or NATO. He supported higher European defense burden-sharing, warned that a sustainable Ukraine settlement must be fair and sovereignty-based, and maintained confidence that NATO Article 5 remains credible despite current political volatility. On the Middle East, he backed a UN-anchored Gaza stabilization framework, welcomed coordination with the proposed Board of Peace only within a limited Gaza mandate, and stressed that disarming Hamas must be paired with governance and education to prevent renewed extremism. He also framed Greece as a strategic energy and logistics hub and linked EU trade deals with India and Mercosur to a wider strategy of diversification, implying policymakers should reduce overreliance risks while preserving rules-based multilateral institutions.
中文摘要
希臘外交部長喬治・耶拉佩特里蒂斯（George Gerapetritis）主張，歐洲正處於轉型期，需要同時強化戰略自主並維持跨大西洋團結，而非與美國或北約決裂。他支持提高歐洲在防務上的負擔分擔，警告烏克蘭的可持續解決方案必須建立在公平與主權原則之上，並認為儘管當前政治局勢波動，北約《第五條》仍具可信度。就中東議題而言，他支持以聯合國為錨點的加薩穩定框架，並表示僅在加薩有限授權範圍內歡迎與擬議中的「和平委員會」協調；他同時強調，解除哈瑪斯武裝必須與治理與教育措施並行，才能防止極端主義再起。他也將希臘定位為戰略能源與物流樞紐，並把歐盟與印度及南方共同市場（Mercosur）的貿易協議連結至更廣泛的多元化戰略，意指政策制定者應在維護以規則為基礎的多邊制度之際，降低過度依賴風險。
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