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.
The Iran war has left Gaza neglected
English Summary
A Chatham House report argues that the ongoing Iran war has diverted international attention and pressure, allowing the Gaza ceasefire to stagnate and conditions to deteriorate. Hamas is unwilling to disarm without a clear political pathway and faces disincentives from Israeli-backed militias, while Israel sees little incentive to withdraw troops and is expanding its control zone. The failure to allow the National Committee for the Administration of Gaza (NCAG) to enter further exacerbates the situation, hardening positions and hindering any progress towards a lasting resolution.
中文摘要
根據Chatham House的一份報告指出，目前發生的伊朗衝突已轉移了國際社會的關注與壓力，導致加薩地帶的停火協議停滯不前，局勢持續惡化。哈馬斯在未有明確的政治途徑的情況下，不願解除武裝，同時面臨以色列支持的民兵組織的阻撓。另一方面，以色列則缺乏撤軍的動機，並正擴大其控制區域。未能允許加薩管理事務國家委員會（NCAG）進入進一步加劇了該局勢，使得各方立場更加強硬，阻礙了達成持久解決方案的進展。
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