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 Raise the Odds of Regime Change in Iran
English Summary
The article argues that regime change in Iran is achievable through a high-stakes military intervention, praising the operational synergy between the US and Israeli air forces. The key reasoning presented is that the combined forces are highly competent and capable of striking various targets with minimal unintended civilian casualties. This sustained military pressure is predicted to systematically strip Iran of its remaining assets and capabilities. Consequently, the policy implication suggests that coordinated, joint military action is viewed as the most effective strategy for destabilizing the current Iranian regime.
中文摘要
本文主張，透過高風險的軍事干預，可以實現伊朗的政權更迭。文章讚揚了美軍和以色列空軍之間作戰協同效能，其核心論點是，這兩方聯合部隊具備高度能力，能夠以最小化非預期平民傷亡的方式，攻擊各種目標。預測指出，這種持續的軍事壓力將系統性地剝奪伊朗剩餘的資產和能力。因此，政策意涵顯示，採取協調的聯合軍事行動，被視為瓦解當前伊朗政權最有效的策略。
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