Morning Brief: The Fed throws in the kitchen sink

Hundreds of thousands of Israelis have been protesting weekly against their government’s plans to overhaul—and weaken—the country’s judiciary. Several former military officials have ...Show moreaccused Israeli Prime Minister Benjamin Netanyahu of a judicial power grab, raising the question of whether serving officers will disobey what they might see as an illegitimate government. How will Israel’s constitutional crisis develop? What happens if an internal mutiny actually takes place? And how does the United States continue its partnership with a country it once lauded as the sole democracy in the Middle East? Ehud Barak, Israel’s former prime minister, who also served as the country’s defense minister and army chief, will join FP’s Ravi Agrawal for a live discussion about the future of Israel’s democracy and what happens next in the current standoff.

Every year, the top Chinese legislative and advisory bodies meet for two weeks to rubber-stamp decisions already made by the Chinese Communist Party. It’s called the “two sessions,” ...Show moreand it began on March 4. This year’s meeting is the first since the end of zero-COVID restrictions; it’s also an opportunity to get an inside look into the Chinese leadership’s fears and priorities. Beyond the headlines, what can the world expect from the convening? What will it mean for China’s economy, defense budget, and foreign policy? Join FP’s Ravi Agrawal in conversation with a panel of China experts as they decipher the news from Beijing: Ryan Hass is the former China director at the National Security Council under President Barack Obama and a senior fellow at the Brookings Institution, Zongyuan Zoe Liu is an FP columnist and fellow for international political economy at the Council on Foreign Relations, and James Palmer is a deputy editor at Foreign Policy and the author of the magazine’s China Brief newsletter.

Over the last few years, Washington has prioritized relocating manufacturing production back to the United States. Critics abroad argue that America’s new industrial policy is protectionis...Show moret and fosters unfair competition. Economist Adam Posen goes a step further. He says the problem with U.S. policy isn’t just that it channels zero-sum thinking but that it is destined to backfire on a number of its goals, from job creation to innovation and decarbonization. Posen argues that for U.S. industrial policy to be successful and resilient, it needs to be barrier free. How and why? Subscribers are encouraged to send in their questions. Posen will discuss his FP cover essay in a conversation with FP’s editor in chief, Ravi Agrawal.