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.
America Must Salvage Its Relationship With India
English Summary
The article argues that the U.S.-India relationship is critically important for future global stability and must be actively maintained. Historically, India maintained a policy of nonalignment and viewed the U.S. with suspicion. However, the geopolitical shift following the Soviet collapse and the rise of China has transformed India into a strategically vital partner. Therefore, the U.S. must deepen its engagement with India to create a robust counterweight to China's growing influence, particularly within the Indo-Pacific region.
中文摘要
本文論述美印關係對於未來全球穩定至關重要，必須得到積極維護。從歷史上看，印度曾奉行不結盟政策，對美國抱持懷疑態度。然而，在蘇聯解體和中國崛起後所帶來的地緣政治轉變，已將印度轉變為一個戰略上至關重要的夥伴。因此，美國必須深化與印度的參與和互動，以在印太地區特別是建立一個強勁的制衡力量，以應對中國日益增長的影響力。
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