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.
UK in the World Programme
English Summary
Chatham House’s UK in the World Programme argues that the UK must rethink foreign policy for a more multipolar and less predictable environment, as its traditional relationships with the US and Europe evolve and new actors gain influence. It reasons that the UK can still act effectively as an influential mid-sized power and global broker, but only if external strategy is linked to domestic renewal on growth, regional inequality, and public service capacity. The programme supports this through expert working groups, policy analysis on trade-offs, and public engagement focused on economic security, development, strategic partnerships, and science and technology. The strategic implication is that UK policymakers should pursue a more integrated domestic-foreign policy approach, prioritizing resilient partnerships, economic security, and innovation-led statecraft.
中文摘要
查塔姆研究所（Chatham House）「英國與世界」計畫主張，隨著英國與美國及歐洲的傳統關係持續演變、且新興行為體影響力上升，英國必須在更趨多極且更難預測的環境中重新思考其外交政策。該計畫認為，英國仍可有效扮演具影響力的中等強權與全球協調者角色，但前提是必須將對外戰略與國內更新相連結，聚焦於經濟成長、區域不平等與公共服務能力。為此，計畫透過專家工作小組、針對政策取捨的分析，以及以經濟安全、發展、戰略夥伴關係與科學技術為重點的公共參與來提供支援。其戰略意涵在於，英國決策者應採取更整合的內外政策路徑，優先強化具韌性的夥伴關係、經濟安全與以創新驅動的治國能力。
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