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 Stability as a Turkish National Security Interest
English Summary
Turkey views the stability of the Iranian regime as a vital national security interest, prioritizing the regional status quo over potential democratic change or regime collapse. Ankara fears that upheaval in Tehran would trigger massive migration waves, disrupt critical energy supplies, and create a governance vacuum exploitable by Kurdish separatist groups like the PKK. Consequently, the Turkish government has framed domestic Iranian protests as foreign-led conspiracies, indicating that Turkey will likely prioritize regime continuity in Tehran to prevent regional instability and economic contagion.
中文摘要
土耳其將伊朗政權的穩定視為其核心國家安全利益，並將區域現狀的維持置於潛在的民主變革或政權崩潰之上。安卡拉擔心德黑蘭的動盪將引發大規模難民潮、中斷關鍵能源供應，並產生可供庫德工人黨 (PKK) 等庫德族分離主義組織利用的治理真空。因此，土耳其政府將伊朗境內的抗議活動定調為外國主導的陰謀，這表明土耳其很可能優先支持德黑蘭政權的延續，以防止區域不穩定及經濟衝擊蔓延。
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