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 Only Way to Disarm Hamas
English Summary
The article posits that achieving a sustainable peace and successfully disarming Hamas requires efforts far beyond a temporary cease-fire. While initial agreements, such as the recent cease-fire, represent a significant diplomatic achievement, they are only considered 'phase one' of a comprehensive peace plan. The core reasoning suggests that the transition from conflict to stability demands sustained, difficult negotiations. Consequently, policy efforts must shift focus from merely stopping fighting to implementing deep, structural agreements that ensure long-term peace and disarmament.
中文摘要
本文提出，實現可持續的和平並成功解除哈馬斯武裝，所需的努力遠超過一次臨時停火。雖然初步協議，例如最近的停火協定，代表了重大的外交成就，但它們僅被視為全面和平計畫的「第一階段」。核心論點指出，從衝突過渡到穩定狀態，需要持續且艱鉅的談判。因此，政策努力必須從單純阻止戰鬥，轉向實施深層、結構性的協議，以確保長期的和平與解除武裝。
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