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.
Iran’s New Grand Strategy
English Summary
This Foreign Affairs article, dated June 2026, argues that the U.S.-Israeli war on Iran has inadvertently strengthened the Islamic Republic, leading to a fundamental shift in its strategy. Initially intended to cripple Iran, the conflict instead fostered innovation and adaptation within the country, resulting in a more confident and strategically astute leadership. Key to this transformation is a new generation of Iranian officials – primarily from the IRGC – who, hardened by decades of war and lacking the insecurity of the revolution’s founders, prioritize pragmatic statecraft and national defense over ideological grandstanding. This shift represents a move away from revolutionary rhetoric and towards a more calculated approach to regional influence and geopolitical strategy.
中文摘要
這篇《外交事務》雜誌（2026年6月發佈）的文章論述，美國與以色列對伊朗的戰爭無意中強化了該伊斯蘭共和國，導致其戰略產生了根本性轉變。最初旨在削弱伊朗的行動，反而在國內推動了創新和適應，使該國領導層變得更加自信且戰略上更加精明。促成這一變革的關鍵是新一代的伊朗官員，主要來自國防革命衛隊（IRGC），他們在數十年的戰爭中磨練，並不像革命的創始人那樣缺乏不安全感，因此，他們更重視務實的國事操練和國家防禦，而非意識形態上的誇張言論。這一轉變意味著從革命口號轉向更為精準的對地區影響力和地緣政治戰略的應對。
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