The prospective challenge of containing inflation, buttressing a collapsed housing market, and normalizing the Federal Reserve's bloated balance sheet has created an "exit strategy" dilemma for Chairman Ben Bernanke. CFR Director of International Economics Benn Steil urges the Federal Reserve to swap mortgage-backed securities with the U.S. Treasury in exchange for Treasury securities, which the Fed can then sell as part of a normal process of monetary tightening.

Gregory Koblentz argues that the United States' best option for a response to the conflict in Syria is not simply arming the rebels, pushing for UN sanctions, indicting Assad, or pressuring Russia—rather, it is a combination of all four.

CFR Director of International Economics Benn Steil urges the Federal Reserve to swap mortgage-backed securities with the U.S. Treasury in exchange for Treasury securities, which the Fed can then sell as part of a normal process of monetary tightening as a solution for the prospective challenge of containing inflation, buttressing a collapsed housing market, and normalizing its bloated balance sheet.

Secretary of State John Kerry and Russian Foreign Minister Sergey Lavrov held this press conference after their meeting on May 7, 2013, focused primarily on U.S.-Russian cooperation in regards to Syria.

President Barack Obama and South Korean President Park Geun-hye held a press conference on May 7, 2013. They discussed trade and threats from North Korea.

Since North Korea conducted its latest nuclear test in February 2013, a spiral of heightened international pressure and increasingly threatening provocations by Pyongyang has ensued.

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President Barack Obama and South Korean President Park Geun-hye issued this joint declaration on May 7, 2013. The statement confirms both nations' commitment to the U.S.-Republic of Korea (ROK) Mutual Defense Treaty, U.S.-Korea Free Trade Agreement, Joint Vision for the U.S.-ROK Alliance, and Six Party Talks with North Korea.

The Mountain View investors are the partners of Y Combinator, an organization that can be likened to a sleep-away camp for start-up companies. Y.C. holds two three-month sessions every year. During that time, campers, or founders, have regular meetings with each of Y.C.'s counselors, or partners, at which they receive technical advice, emotional support and, most critical, lessons on the art of the sale. There is no campus, only a nondescript office building in Mountain View — on Pioneer Way, around the corner from Easy Street. Founders are advised to rent apartments nearby, so that they can run to the office in minutes should an important investor pay a visit.

Under reciprocal treaty obligations, host nations are obligated to provide security for the diplomatic facilities of sending states. However, instances in which host nations have been unable or not fully committed to fulfilling this responsibility have sometimes left U.S. facilities vulnerable, especially in extraordinary circumstances. U.S. facilities therefore employ a layered approach to security including not only the measures taken by a host country, but also additional, U.S.-coordinated measures, to include armed Diplomatic Security agents, hardened facilities, U.S.-trained and/or contracted local security guards, and sometimes U.S. Marine Security Guard detachments (whose principal role is securing classified information).

Micah Zenko explains why critics of U.S. targeted killing policies should not overlook "similar attacks conducted by allies and partners who receive U.S. money, weapons, or actionable intelligence."

Richard N. Haass discusses his new book, Foreign Policy Begins at Home, in which he puts forward a new foreign policy doctrine of Restoration, where the United States limits its engagement in wars of choice and humanitarian interventions abroad, and focuses on restoring the foundations of its power at home.

Richard N. Haass discusses his new book, Foreign Policy Begins at Home, in which he puts forward a new foreign policy doctrine of Restoration, where the United States limits its engagement in wars of choice and humanitarian interventions abroad, and focuses on restoring the foundations of its power at home.

Richard N. Haass discusses his new book, Foreign Policy Begins at Home, in which he puts forward a new foreign policy doctrine of Restoration, where the United States limits its engagement in wars of choice and humanitarian interventions abroad, and focuses on restoring the foundations of its power at home.

President Obama gave a speech at the Anthropology Museum in Mexico City on May 3, 2013. He discussed the five points he and President Nieto covered during their bilateral talks.

CFR Senior Fellow for Energy and the Environment and author of The Power Surge Michael A. Levi and former Office of Management and Budget director discuss America's energy future.

A number of countries, including the United States, the United Kingdom, Turkey, and Qatar, have been providing support to the opposition in various forms, ranging from humanitarian aid to military supplies, such as weapons, armor, and communication devices. However, these efforts have not been enough to turn the tide, and after three years of fighting, a diplomatic solution still seems unlikely.

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President Barack Obama and Mexican President Pena Nieto held this press conference in Mexico City after their meeting on May 2, 2013. They discussed immigration, security, and economic initiatives.

Benn Steil and Dinah Walker explain why the Fed's massive holdings of mortgage-backed securities (MBS) are distorting its thinking about the conduct of monetary policy going forward. They propose a novel plan to rectify this, in which the Fed swaps its MBS with the Treasury in return for Treasury securities, which the Fed can sell as part of a normal "exit" from monetary stimulus.

Stewart Patrick and Alexandra Kerr make recommendations to improve the counterterrorism efforts of the United States and its allies, in conjunction with CFR's Global Governance Report Card, published by the International Institutions and Global Governance program.

Only by getting its own house in order will the United States be in a position to set an example other societies will want to emulate, argues CFR President Richard N. Haass. And only by fixing itself will the United States possess the resources necessary to discourage or deal with the emergence of a serious political and military competitor.