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.
How to End the Iran Crisis
English Summary
Peace talks aimed at resolving the Iran crisis have reportedly broken down, indicating that a permanent settlement remains elusive. The analysis suggests that the primary failure point was the inability to successfully address Iran's nuclear energy program, despite general agreement on other disputes. This failure to resolve the nuclear issue suggests that the core conflict remains unresolved. Consequently, any future strategy must prioritize a comprehensive resolution to Iran's nuclear ambitions to achieve lasting stability.
中文摘要
據報導，旨在解決伊朗危機的和平談判已陷入僵局，顯示出達成永久性和解方案極為困難。分析指出，主要失敗點在於無法成功處理伊朗的核能計畫，儘管雙方在其他爭議點上已達成普遍共識。未能解決核能議題，表明核心衝突仍未得到化解。因此，任何未來的策略必須將優先重點放在全面解決伊朗的核能雄心上，才能實現持久的穩定。
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