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.
2026 UN Secretary-General Candidates Series: A Conversation With Rafael M. Grossi
English Summary
Grossi argues that the current global environment, marked by a 'multiplication of conflict,' has led to a crisis of confidence in the United Nations' effectiveness. He counters this skepticism by highlighting his operational experience, specifically detailing his successful establishment of a permanent, independent mission at the Zaporizhzhia Nuclear Power Plant in occupied Ukrainian territory. This case serves as key evidence that the Secretary-General must be an active, hands-on mediator, willing to navigate intense geopolitical opposition to manage critical, non-military threats. The implication for policy is that the UN requires a leader who can exercise diplomatic muscle and technical expertise to maintain international stability and prevent catastrophic crises.
中文摘要
Grossi 提出，當前全球環境處於「衝突倍增」的狀態，已導致國際社會對聯合國的有效性產生了信心危機。他透過強調自身的實務經驗來反駁這種懷疑，特別詳細闡述了其在佔領烏克蘭領土的札波熱耶核電廠成功建立永久、獨立任務的案例。此案例證明了秘書長必須是一位積極、親身參與的調解人，願意在面對強烈的地緣政治阻力時，主動介入管理關鍵的非軍事威脅。政策上的啟示是，聯合國需要一位具備外交實力與技術專業知識的領導者，以維護國際穩定並預防災難性危機。
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