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.
Lessons for the United States in the Militant Attacks that Killed Mali’s Defense Minister
English Summary
Recent coordinated attacks in Mali, including the death of the Defense Minister, highlight a deteriorating security situation and the failure of military juntas and their Russian partners to effectively combat militant groups. The attacks, involving both al Qaeda-linked groups and Tuareg separatists, demonstrate a complex conflict driven by local grievances and separatist aspirations, not just terrorism. The U.S., as it re-engages in the Sahel, risks repeating Russia's mistakes by prioritizing security for resources and neglecting governance and local dynamics, necessitating a more multidimensional approach focused on genuine partnership and addressing underlying economic and political issues.
中文摘要
「非洲」 近期在馬利發生的多起協調性攻擊事件，包括國防部長不幸遇難，凸顯了該地區安全局勢持續惡化，以及軍事政變政權及其俄羅斯合作夥伴未能有效遏制武裝團體的失敗。這些攻擊涉及與蓋達組織有關聯的團體和圖拉格分離主義者，表明衝突的複雜性，其根源不僅僅在於恐怖主義，更源於地方性的不滿和分離主義願望。隨著美國重新參與薩赫勒地區事務，若重蹈俄羅斯錯誤的覆轍，僅側重資源安全而忽略治理和地方民情，將會是危險的。因此，需要採取更為多維度的策略，專注於建立真誠的夥伴關係，並解決潛在的經濟和政治問題。
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