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’s Middle East: The Ruination of a Region
English Summary
The article presents a scathing critique of U.S. foreign policy in the Middle East, arguing that the pursuit of a U.S.-centric order since the Cold War has resulted in regional ruination. Key evidence points to the failure to resolve the core Israeli-Palestinian conflict, which allowed the U.S. to justify prolonged involvement through failed 'peace processes.' This neglect led to disastrous policies, including interventions in Iraq and Syria, and support for actions like the Gaza assault, all of which ignored regional public opinion and undermined democracy promotion. Policymakers must fundamentally reassess their strategy, moving away from unilateral imposition of order and recognizing the need for genuine regional stability.
中文摘要
本文對美國在中東的外交政策提出了尖銳的批判，主張自冷戰時期以來，追求以美國為中心的秩序已導致了該地區的敗壞。關鍵證據指出，美國未能解決核心的以色列-巴勒斯坦衝突，這使得美國得以藉由失敗的「和平進程」來為其長期介入提供正當性。這種忽視導致了災難性的政策，包括在伊拉克和敘利亞的干預，以及支持加薩襲擊等行動，所有這些行為都無視了區域民意，並損害了民主推廣的努力。政策制定者必須從根本上重新評估其戰略，擺脫單方面強加秩序的做法，並認識到實現真正區域穩定的必要性。
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