In 2018, CFR once again hosted high-level discussions of global affairs, from U.S. election security to the Iran-Saudi Arabia rivalry to the artificial intelligence race.

The U.S. abdications of the Covenant of the League of Nations and the Paris climate accords may be remembered as bookends to the American century.

Improbably, the Federal Reserve is surviving the Trump era with its integrity intact. Jerome H. Powell, the Fed chairman since February, is quietly emerging as a skilled Washington operator.

President Trump goes to Europe this week. Its leaders are bracing for the impact.