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 Folly of Fatalism in Gaza
English Summary
The article argues that adopting a fatalistic approach to the future of Gaza is unrealistic, suggesting that stability cannot be achieved through passive waiting or external mandates alone. The current peace framework, which relies on a U.S.-led Board of Peace and an International Stabilization Force following the dissolution of Hamas, is highly complex and fragile. The analysis implies that while international intervention is necessary, sustainable peace requires a fundamental shift toward empowering local governance and fostering genuine political will among the Palestinian populace. Policymakers must therefore move beyond simply managing external security forces and instead focus on building self-sustaining, localized institutions to prevent future collapse.
中文摘要
本文論述，對加沙地帶未來採取宿命論式的態度是缺乏現實基礎的，指出穩定無法僅透過被動等待或外部指令來達成。當前的和平框架——該框架依賴於哈馬斯解散後由美國主導的和平委員會和國際穩定部隊——極為複雜且脆弱。分析暗示，雖然國際干預是必要的，但實現可持續的和平，必須從根本上轉向賦予地方治理權力，並在巴勒斯坦民眾中培育真正的政治意願。因此，政策制定者必須超越僅管理外部安全部隊的層面，轉而專注於建立自給自足、在地化的機構，以預防未來的崩潰。
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