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.
Preventing Renewed Conflict in Colombia
English Summary
The report argues that the United States must proactively engage Colombia's next administration to support the 2016 Peace Accords and prevent a resurgence of internal conflict. This urgency is driven by incomplete implementation of the peace deal, rising violence against demobilized combatants, and record-high coca production that fuels armed groups like the ELN and Clan del Golfo. Strategic implications include the need for innovative international financing to bridge fiscal gaps and a shift in security cooperation toward stabilizing rural zones to mitigate migration and narcotics flows. Failure to act risks squandering a long-term U.S. foreign policy success and destabilizing the broader Andean region.
中文摘要
報告指出，美國必須積極與哥倫比亞下屆政府接觸，以支持 2016 年和平協議並防止內戰再度爆發。這種迫切性源於和平協議執行不力、針對復員戰鬥人員的暴力增加，以及創紀錄的古柯產量為民族解放軍 (ELN) 和海灣幫 (Clan del Golfo) 等武裝團體提供了資金。戰略影響包括需要創新的國際融資來彌補財政缺口，以及將安全合作轉向穩定農村地區，以緩解移民和毒品流動。若不採取行動，可能導致美國長期外交政策成果付諸流水，並使整個安地斯地區陷入動盪。
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