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Media Conference Call: Benn Steil on Federal Reserve Exit Strategy

Speaker: Benn Steil
Presider: Michelle Caruso-Cabrera

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.

See more in United States, Financial Crises

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Media Conference Call: Benn Steil on Federal Reserve Exit Strategy

Speaker: Benn Steil
Presider: Michelle Caruso-Cabrera

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.

See more in United States, Financial Crises

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Joint Declaration in Commemoration of the Sixtieth Anniversary of the Alliance between the United States and the Republic of Korea

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.

See more in United States, South Korea, Treaties

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NYT: Silicon Valley’s Start-Up Machine

Author: Nathaniel Rich

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.

See more in United States, Economic Development

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The New Yorker: The Thin Red Line

Author: Dexter Filkins

The Administration has given the Syrian opposition more than six hundred and fifty million dollars in nonmilitary aid, but Obama has consistently opposed arming the rebels or intervening militarily on their behalf. The United States has taken a tenuous position: not deep enough to please the rebels or its allies in Europe, or to topple the regime, or to claim leadership in the war's aftermath—but also, perhaps most important, not so deep that it can't get out.

See more in Syria, Wars and Warfare, Weapons of Mass Destruction

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CRS: Securing U.S. Diplomatic Facilities and Personnel Abroad: Background and Policy Issues

Authors: Alex Tiersky and Susan B. Epstein

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).

See more in United States, National Security and Defense