{ "id": 48429, "date": "2025-09-09T02:53:47", "date_gmt": "2025-09-08T19:53:47", "guid": { "rendered": "https:\/\/hbbgroup.net\/ghe-nong-fed-giua-bao-kinh-te-va-cuoc-dua-tam-ma-kich-tinh\/" }, "modified": "2025-09-09T02:53:47", "modified_gmt": "2025-09-08T19:53:47", "slug": "ghe-nong-fed-giua-bao-kinh-te-va-cuoc-dua-tam-ma-kich-tinh", "status": "publish", "type": "post", "link": "https:\/\/hbbgroup.net\/en_us\/ghe-nong-fed-giua-bao-kinh-te-va-cuoc-dua-tam-ma-kich-tinh\/", "title": { "rendered": "Gh\u1ebf n\u00f3ng Fed gi\u1eefa b\u00e3o kinh t\u1ebf v\u00e0 cu\u1ed9c \u0111ua tam m\u00e3 k\u1ecbch t\u00ednh" }, "content": { "rendered": "
\n

Th\u00e1ng 9 \u0111ang ph\u1ee7 m\u1ed9t b\u00f3ng m\u00e2y \u0111\u1ea7y toan t\u00ednh l\u00ean n\u1ec1n kinh t\u1ebf M\u1ef9. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00edn th\u1edf ch\u1edd \u0111\u1ee3i quy\u1ebft \u0111\u1ecbnh l\u00e3i su\u1ea5t c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang (Fed) trong 10 ng\u00e0y t\u1edbi, trong khi m\u1ed9t cu\u1ed9c chi\u1ebfn ng\u1ea7m c\u00f2n quan tr\u1ecdng h\u01a1n \u0111ang \u0111\u1ecbnh h\u00ecnh t\u01b0\u01a1ng lai c\u1ee7a ch\u00ednh c\u01a1 quan n\u00e0y. \u0110\u00f3 l\u00e0 cu\u1ed9c \u0111ua gi\u00e0nh chi\u1ebfc gh\u1ebf Ch\u1ee7 t\u1ecbch Fed, m\u1ed9t v\u1ecb tr\u00ed c\u00f3 quy\u1ec1n l\u1ef1c \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn t\u00fai ti\u1ec1n c\u1ee7a m\u1ecdi ng\u01b0\u1eddi d\u00e2n M\u1ef9 v\u00e0 s\u1ef1 \u1ed5n \u0111\u1ecbnh c\u1ee7a c\u1ea3 n\u1ec1n kinh t\u1ebf to\u00e0n c\u1ea7u.<\/p>\n

T\u1ed5ng th\u1ed1ng Donald Trump \u0111\u00e3 ch\u00ednh th\u1ee9c x\u00e1c nh\u1eadn “cu\u1ed9c \u0111ua tam m\u00e3” g\u1ed3m 3 \u1ee9ng vi\u00ean h\u00e0ng \u0111\u1ea7u s\u1ebd thay th\u1ebf Jerome Powell v\u00e0o th\u00e1ng 5 n\u0103m sau: Christopher Waller, Kevin Hassett v\u00e0 Kevin Warsh.\u00a0<\/p>\n

\u0110\u1ed1i v\u1edbi gi\u1edbi \u0111\u1ea7u t\u01b0, doanh nghi\u1ec7p<\/a> v\u00e0 c\u00e1c nh\u00e0 ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch, vi\u1ec7c ai s\u1ebd tr\u1edf th\u00e0nh “nh\u1ea1c tr\u01b0\u1edfng” ti\u1ebfp theo c\u1ee7a Fed v\u00e0 h\u1ecd s\u1ebd l\u00e8o l\u00e1i con thuy\u1ec1n kinh t\u1ebf M\u1ef9 ra sao kh\u00f4ng c\u00f2n l\u00e0 m\u1ed9t c\u00e2u h\u1ecfi mang t\u00ednh h\u1ecdc thu\u1eadt m\u00e0 l\u00e0 m\u1ed9t \u1ea9n s\u1ed1 tr\u1ecb gi\u00e1 h\u00e0ng ngh\u00ecn t\u1ef7 USD.<\/p>\n

Th\u00e1ng 9 b\u00e3o t\u00e1p: B\u00e0i to\u00e1n nan gi\u1ea3i c\u1ee7a Jerome Powell<\/h4>\n

Tr\u01b0\u1edbc khi n\u00f3i v\u1ec1 t\u01b0\u01a1ng lai, h\u00e3y nh\u00ecn v\u00e0o hi\u1ec7n t\u1ea1i \u0111\u1ea7y \u00e1p l\u1ef1c c\u1ee7a Ch\u1ee7 t\u1ecbch Fed Jerome Powell. G\u1ea7n nh\u01b0 ch\u1eafc ch\u1eafn Fed s\u1ebd c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t trong cu\u1ed9c h\u1ecdp ch\u00ednh s\u00e1ch ng\u00e0y 16-17\/9 t\u1edbi. C\u00e2u h\u1ecfi kh\u00f4ng ph\u1ea3i l\u00e0 “c\u00f3 hay kh\u00f4ng”, m\u00e0 l\u00e0 “gi\u1ea3m bao nhi\u00eau” – 0,25 hay 0,5 \u0111i\u1ec3m ph\u1ea7n tr\u0103m.<\/p>\n

Quy\u1ebft \u0111\u1ecbnh n\u00e0y \u0111\u1ebfn trong m\u1ed9t b\u1ed1i c\u1ea3nh kinh t\u1ebf \u0111\u1ea7y ngh\u1ecbch l\u00fd. B\u1ec1 ngo\u00e0i, c\u00e1c con s\u1ed1 v\u0129 m\u00f4 v\u1eabn kh\u00e1 v\u1eefng ch\u1eafc. T\u0103ng tr\u01b0\u1edfng GDP qu\u00fd II \u0111\u1ea1t 3,3% v\u00e0 C\u1ed1 v\u1ea5n kinh t\u1ebf tr\u01b0\u1edfng Nh\u00e0 Tr\u1eafng Kevin Hassett th\u1eadm ch\u00ed d\u1ef1 b\u00e1o c\u00f3 th\u1ec3 \u0111\u1ea1t 4%. “Hi\u1ec7u \u1ee9ng gi\u00e0u c\u00f3” t\u1eeb th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n<\/a> v\u00e0 b\u1ea5t \u0111\u1ed9ng s\u1ea3n t\u0103ng gi\u00e1 v\u1eabn th\u00fac \u0111\u1ea9y ng\u01b0\u1eddi ti\u00eau d\u00f9ng chi ti\u00eau. \u0110\u1ea7u t\u01b0 kinh doanh, \u0111\u01b0\u1ee3c ti\u1ebfp s\u1ee9c b\u1edfi h\u00e0ng t\u1ef7 USD \u0111\u1ed5 v\u00e0o l\u0129nh v\u1ef1c tr\u00ed tu\u1ec7 nh\u00e2n t\u1ea1o (AI), c\u0169ng t\u0103ng tr\u01b0\u1edfng 8%.<\/p>\n

Tuy nhi\u00ean, b\u00ean d\u01b0\u1edbi b\u1ec1 m\u1eb7t \u0111\u00f3 l\u00e0 nh\u1eefng v\u1ebft r\u1ea1n \u0111\u00e1ng lo ng\u1ea1i. Ho\u1ea1t \u0111\u1ed9ng s\u1ea3n xu\u1ea5t v\u1eabn \u0111ang thu h\u1eb9p v\u00e0 th\u1ecb tr\u01b0\u1eddng nh\u00e0 \u1edf th\u00ec \u1ea3m \u0111\u1ea1m. Nh\u01b0ng m\u1ed1i b\u1eadn t\u00e2m l\u1edbn nh\u1ea5t c\u1ee7a \u00f4ng Powell l\u00fac n\u00e0y l\u1ea1i l\u00e0 th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng. Th\u00e1ng 8, n\u1ec1n kinh t\u1ebf ch\u1ec9 t\u1ea1o th\u00eam \u0111\u01b0\u1ee3c 22.000 vi\u1ec7c l\u00e0m, m\u1ed9t con s\u1ed1 \u0111\u00e1ng th\u1ea5t v\u1ecdng. T\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p nh\u00edch t\u1eeb 4,2% l\u00ean 4,3%.<\/p>\n

C\u00e1c chuy\u00ean gia cho r\u1eb1ng con s\u1ed1 n\u00e0y c\u00f3 th\u1ec3 \u0111ang b\u1ecb “\u0111\u00e8 n\u00e9n gi\u1ea3 t\u1ea1o” b\u1edfi hi\u1ec7n t\u01b0\u1ee3ng “t\u00edch tr\u1eef lao \u0111\u1ed9ng”. Sau c\u00fa s\u1ed1c thi\u1ebfu h\u1ee5t nh\u00e2n s\u1ef1 th\u1eddi h\u1eadu Covid-19, nhi\u1ec1u doanh nghi\u1ec7p \u0111ang c\u1ed1 gi\u1eef l\u1ea1i nh\u00e2n vi\u00ean ngay c\u1ea3 khi kh\u00f4ng s\u1eed d\u1ee5ng h\u1ebft c\u00f4ng su\u1ea5t c\u1ee7a h\u1ecd. L\u1ea7n \u0111\u1ea7u ti\u00ean sau b\u1ed1n n\u0103m, s\u1ed1 ng\u01b0\u1eddi t\u00ecm vi\u1ec7c \u0111\u00e3 ch\u00ednh th\u1ee9c v\u01b0\u1ee3t qua s\u1ed1 v\u1ecb tr\u00ed c\u00f2n tr\u1ed1ng. Hi\u1ec7n t\u01b0\u1ee3ng “nh\u1ea3y vi\u1ec7c” \u0111\u1ec3 t\u00ecm ki\u1ebfm c\u01a1 h\u1ed9i t\u1ed1t h\u01a1n \u0111\u00e3 b\u1ecb thay th\u1ebf b\u1edfi t\u00e2m l\u00fd “\u00f4m vi\u1ec7c” \u0111\u1ec3 gi\u1eef an to\u00e0n.<\/p>\n

V\u00e0 l\u01a1 l\u1eedng tr\u00ean t\u1ea5t c\u1ea3 l\u00e0 b\u00f3ng ma AI. M\u1ed9t kh\u1ea3o s\u00e1t c\u1ee7a The Wall Street Journal cho th\u1ea5y c\u00e1c doanh nghi\u1ec7p \u0111ang d\u00f9ng nh\u1eefng c\u1ee5m t\u1eeb nh\u01b0 “k\u00ecm h\u00e3m tuy\u1ec3n d\u1ee5ng” hay “\u00edt d\u00f9ng con ng\u01b0\u1eddi h\u01a1n”. C\u00e1c l\u00e3nh \u0111\u1ea1o doanh nghi\u1ec7p th\u1eeba nh\u1eadn r\u1eb1ng c\u00e1c cu\u1ed9c h\u1ecdp v\u1ec1 ng\u00e2n s\u00e1ch gi\u1edd \u0111\u00e2y ch\u1ee7 y\u1ebfu xoay quanh “nh\u1eefng c\u00f4ng vi\u1ec7c s\u1ebd bi\u1ebfn m\u1ea5t trong 18 th\u00e1ng t\u1edbi”.<\/p>\n

Ch\u00ednh s\u1ef1 suy y\u1ebfu ti\u1ec1m t\u00e0ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng \u0111\u00e3 khi\u1ebfn \u00f4ng Powell lo ng\u1ea1i h\u01a1n c\u1ea3 m\u1ee9c l\u1ea1m ph\u00e1t hi\u1ec7n v\u1eabn cao h\u01a1n m\u1ee5c ti\u00eau 2% c\u1ee7a Fed. \u00d4ng v\u00e0 c\u00e1c \u0111\u1ed3ng nghi\u1ec7p d\u01b0\u1eddng nh\u01b0 tin r\u1eb1ng \u00e1p l\u1ef1c t\u0103ng gi\u00e1 t\u1eeb ch\u00ednh s\u00e1ch thu\u1ebf quan ch\u1ec9 l\u00e0 t\u1ea1m th\u1eddi v\u00e0 xu h\u01b0\u1edbng gi\u1ea3m l\u1ea1m ph\u00e1t s\u1ebd s\u1edbm quay tr\u1edf l\u1ea1i.<\/p>\n

Trong b\u1ed1i c\u1ea3nh \u0111\u00f3, m\u1ed9t \u0111\u1ee3t c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t \u0111\u01b0\u1ee3c xem l\u00e0 li\u1ec1u thu\u1ed1c c\u1ea7n thi\u1ebft. Nh\u01b0ng n\u00f3 s\u1ebd kh\u00f4ng bao gi\u1edd \u0111\u1ee7 \u0111\u1ec3 th\u1ecfa m\u00e3n y\u00eau c\u1ea7u c\u1ee7a T\u1ed5ng th\u1ed1ng Trump, ng\u01b0\u1eddi t\u1eebng \u0111\u00f2i h\u1ecfi m\u1ed9t m\u1ee9c gi\u1ea3m l\u00ean t\u1edbi 3 \u0111i\u1ec3m ph\u1ea7n tr\u0103m. V\u00e0 ch\u00ednh \u00e1p l\u1ef1c kh\u00f4ng ng\u1eebng ngh\u1ec9 n\u00e0y \u0111\u00e3 m\u1edf \u0111\u01b0\u1eddng cho cu\u1ed9c \u0111ua t\u00ecm ng\u01b0\u1eddi k\u1ebf nhi\u1ec7m \u00f4ng Powell.<\/p>\n

\"Gh\u1ebf
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Theo c\u00e1c chuy\u00ean gia, th\u00e1ng 9 l\u00e0 th\u00e1ng \u0111\u1ea7y hi\u1ec3m nguy \u0111\u1ed1i v\u1edbi n\u1ec1n kinh t\u1ebf M\u1ef9. C\u00e1c \u0111\u1ea7u t\u01b0 lo l\u1eafng khi l\u1ecbch s\u1eed cho th\u1ea5y th\u00e1ng 9 th\u01b0\u1eddng l\u00e0 th\u1eddi \u0111i\u1ec3m th\u1ecb tr\u01b0\u1eddng y\u1ebfu nh\u1ea5t (\u1ea2nh: iStock).<\/p>\n<\/figcaption><\/figure>\n

Cu\u1ed9c \u0111ua tam m\u00e3: 3 con ng\u01b0\u1eddi, 3 t\u01b0\u01a1ng lai cho Fed<\/h4>\n

Vi\u1ec7c T\u1ed5ng th\u1ed1ng Trump x\u00e1c nh\u1eadn danh s\u00e1ch r\u00fat g\u1ecdn cho th\u1ea5y \u00f4ng \u0111ang r\u1ea5t nghi\u00eam t\u00fac trong vi\u1ec7c \u0111\u1ecbnh h\u00ecnh l\u1ea1i Fed theo \u00fd mu\u1ed1n c\u1ee7a m\u00ecnh. M\u1ed7i \u1ee9ng vi\u00ean \u0111\u1ec1u \u0111\u1ea1i di\u1ec7n cho m\u1ed9t con \u0111\u01b0\u1eddng r\u1ea5t kh\u00e1c nhau.<\/p>\n

Christopher Waller – “Ng\u01b0\u1eddi n\u1ed9i b\u1ed9” th\u1ef1c d\u1ee5ng<\/strong><\/p>\n

V\u1edbi t\u1ef7 l\u1ec7 c\u01b0\u1ee3c cao nh\u1ea5t tr\u00ean c\u00e1c s\u00e0n c\u00e1 c\u01b0\u1ee3c tr\u1ef1c tuy\u1ebfn (27-28%), Th\u1ed1ng \u0111\u1ed1c Fed Christopher Waller \u0111\u01b0\u1ee3c xem l\u00e0 \u1ee9ng vi\u00ean an to\u00e0n nh\u1ea5t. \u00d4ng l\u00e0 “ng\u01b0\u1eddi trong cu\u1ed9c”, hi\u1ec3u r\u00f5 b\u1ed9 m\u00e1y v\u1eadn h\u00e0nh c\u1ee7a Fed.<\/p>\n

\u0110i\u1ec3m th\u00fa v\u1ecb c\u1ee7a Waller l\u00e0 s\u1ef1 chuy\u1ec3n bi\u1ebfn trong quan \u0111i\u1ec3m. N\u0103m 2021, \u00f4ng l\u00e0 m\u1ed9t trong nh\u1eefng ng\u01b0\u1eddi \u0111\u1ea7u ti\u00ean k\u00eau g\u1ecdi t\u0103ng l\u00e3i su\u1ea5t \u0111\u1ec3 ch\u1ed1ng l\u1ea1m ph\u00e1t, v\u00e0 \u0111\u00e3 d\u1ef1 b\u00e1o ch\u00ednh x\u00e1c r\u1eb1ng vi\u1ec7c n\u00e0y s\u1ebd kh\u00f4ng g\u00e2y ra l\u00e0n s\u00f3ng th\u1ea5t nghi\u1ec7p h\u00e0ng lo\u1ea1t. Gi\u1edd \u0111\u00e2y, \u00f4ng l\u1ea1i l\u00e0 ng\u01b0\u1eddi \u0111i tr\u01b0\u1edbc trong vi\u1ec7c k\u00eau g\u1ecdi n\u1edbi l\u1ecfng ch\u00ednh s\u00e1ch. \u00d4ng ch\u00ednh l\u00e0 ng\u01b0\u1eddi \u0111\u00e3 b\u1ecf phi\u1ebfu b\u1ea5t \u0111\u1ed3ng v\u00e0o th\u00e1ng 7, khi Fed quy\u1ebft \u0111\u1ecbnh gi\u1eef nguy\u00ean l\u00e3i su\u1ea5t.<\/p>\n

Trong b\u00e0i ph\u00e1t bi\u1ec3u ng\u00e0y 28\/8, \u00f4ng n\u00f3i r\u00f5: “D\u1ef1a tr\u00ean nh\u1eefng g\u00ec t\u00f4i bi\u1ebft hi\u1ec7n nay, t\u00f4i s\u1ebd \u1ee7ng h\u1ed9 vi\u1ec7c c\u1eaft gi\u1ea3m 25 \u0111i\u1ec3m c\u01a1 b\u1ea3n. T\u00f4i lo ng\u1ea1i t\u00ecnh h\u00ecnh th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng c\u00f3 th\u1ec3 x\u1ea5u \u0111i nhanh ch\u00f3ng”. L\u1eadp tr\u01b0\u1eddng n\u00e0y cho th\u1ea5y m\u1ed9t s\u1ef1 th\u1ef1c d\u1ee5ng, s\u1eb5n s\u00e0ng thay \u0111\u1ed5i ch\u00ednh s\u00e1ch d\u1ef1a tr\u00ean d\u1eef li\u1ec7u m\u1edbi, nh\u01b0ng v\u1eabn trong khu\u00f4n kh\u1ed5 \u0111\u1ed9c l\u1eadp c\u1ee7a Fed.<\/p>\n

L\u1ef1a ch\u1ecdn Waller c\u00f3 th\u1ec3 l\u00e0 m\u1ed9t s\u1ef1 thay \u0111\u1ed5i \u00f4n h\u00f2a h\u01a1n so v\u1edbi c\u00e1c \u1ee9ng vi\u00ean c\u00f2n l\u1ea1i.<\/p>\n

Kevin Hassett – “C\u00e1nh tay n\u1ed1i d\u00e0i” c\u1ee7a Nh\u00e0 Tr\u1eafng<\/strong><\/p>\n

L\u00e0 Gi\u00e1m \u0111\u1ed1c H\u1ed9i \u0111\u1ed3ng Kinh t\u1ebf Qu\u1ed1c gia, Kevin Hassett l\u00e0 ti\u1ebfng n\u00f3i trung th\u00e0nh nh\u1ea5t v\u1edbi c\u00e1c ch\u00ednh s\u00e1ch c\u1ee7a T\u1ed5ng th\u1ed1ng Trump. \u00d4ng l\u00e0 ng\u01b0\u1eddi \u1ee7ng h\u1ed9 m\u1ea1nh m\u1ebd c\u00e1c ch\u00ednh s\u00e1ch th\u01b0\u01a1ng m\u1ea1i v\u00e0 thu\u1ebf quan, \u0111\u1ed3ng th\u1eddi c\u00f4ng khai l\u1eb7p l\u1ea1i nh\u1eefng ch\u1ec9 tr\u00edch c\u1ee7a Trump nh\u1eafm v\u00e0o Fed d\u01b0\u1edbi th\u1eddi Powell.<\/p>\n

Ph\u00e1t bi\u1ec3u c\u1ee7a \u00f4ng v\u00e0o ng\u00e0y 3\/8 \u0111\u00e3 th\u1ec3 hi\u1ec7n r\u00f5 \u0111i\u1ec1u \u0111\u00f3: “T\u1ed5ng th\u1ed1ng t\u1ecf ra b\u1ee9c x\u00fac v\u00ec cho r\u1eb1ng nhi\u1ec1u n\u01b0\u1edbc kh\u00e1c \u0111\u00e3 h\u1ea1 l\u00e3i su\u1ea5t, trong khi M\u1ef9 th\u00ec ch\u01b0a. \u00d4ng c\u0169ng lo ng\u1ea1i r\u1eb1ng c\u00f3 th\u1ec3 \u0111ang c\u00f3 y\u1ebfu t\u1ed1 ch\u00ednh tr\u1ecb chi ph\u1ed1i c\u00e1ch t\u00ednh to\u00e1n c\u00e1c con s\u1ed1 n\u00e0y”.<\/p>\n

Hassett \u0111\u1ea1i di\u1ec7n cho m\u1ed9t k\u1ecbch b\u1ea3n m\u00e0 \u1edf \u0111\u00f3, s\u1ef1 \u0111\u1ed9c l\u1eadp c\u1ee7a Fed c\u00f3 th\u1ec3 b\u1ecb th\u00e1ch th\u1ee9c nghi\u00eam tr\u1ecdng. N\u1ebfu \u00f4ng \u0111\u01b0\u1ee3c b\u1ed5 nhi\u1ec7m, l\u1eb1n ranh gi\u1eefa ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 v\u00e0 c\u00e1c m\u1ee5c ti\u00eau ch\u00ednh tr\u1ecb c\u1ee7a ch\u00ednh ph\u1ee7 c\u00f3 th\u1ec3 s\u1ebd b\u1ecb x\u00f3a nh\u00f2a.<\/p>\n

Kevin Warsh – “Nh\u00e0 c\u1ea3i c\u00e1ch” c\u1ea5p ti\u1ebfn<\/strong><\/p>\n

Kevin Warsh, c\u1ef1u Th\u1ed1ng \u0111\u1ed1c Fed, l\u00e0 \u1ee9ng vi\u00ean kh\u00f3 \u0111o\u00e1n nh\u1ea5t nh\u01b0ng c\u0169ng c\u00f3 th\u1ec3 mang l\u1ea1i s\u1ef1 thay \u0111\u1ed5i s\u00e2u s\u1eafc nh\u1ea5t. T\u1eebng l\u00e0 ng\u01b0\u1eddi li\u00ean l\u1ea1c ch\u00ednh c\u1ee7a Fed v\u1edbi ph\u1ed1 Wall trong kh\u1ee7ng ho\u1ea3ng 2008, \u00f4ng s\u1edbm quay l\u01b0ng l\u1ea1i v\u1edbi c\u00e1c ch\u00ednh s\u00e1ch n\u1edbi l\u1ecfng \u0111\u1ecbnh l\u01b0\u1ee3ng, cho r\u1eb1ng ch\u00fang \u0111\u00e3 k\u00e9o Fed can thi\u1ec7p qu\u00e1 s\u00e2u v\u00e0o ch\u00ednh s\u00e1ch t\u00e0i kh\u00f3a.<\/p>\n

Warsh kh\u00f4ng ch\u1ec9 mu\u1ed1n m\u1ed9t \u0111\u1ee3t c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t \u0111\u01a1n thu\u1ea7n. \u00d4ng xem \u0111\u00f3 l\u00e0 “b\u01b0\u1edbc \u0111\u1ea7u cho s\u1ef1 thay \u0111\u1ed5i th\u1ec3 ch\u1ebf”. \u00d4ng mu\u1ed1n “r\u00fat b\u1edbt s\u1ef1 l\u1ecfng l\u1ebbo kh\u1ecfi th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh<\/a> b\u1eb1ng c\u00e1ch \u0111\u01b0a Fed ra kh\u1ecfi l\u0129nh v\u1ef1c t\u00e0i kh\u00f3a, ra kh\u1ecfi ch\u00ednh tr\u1ecb”. T\u1ea7m nh\u00ecn c\u1ee7a \u00f4ng l\u00e0 m\u1ed9t Fed thu h\u1eb9p vai tr\u00f2, t\u1eadp trung v\u00e0o n\u1ec1n kinh t\u1ebf th\u1ef1c thay v\u00ec c\u00e1c th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh. N\u0103m 2018, Trump \u0111\u00e3 su\u00fdt b\u1ed5 nhi\u1ec7m Warsh v\u00e0 sau \u0111\u00f3 th\u1eeba nh\u1eadn r\u1eb1ng \u00f4ng h\u1ed1i ti\u1ebfc v\u00ec \u0111\u00e3 kh\u00f4ng l\u00e0m v\u1eady.<\/p>\n

L\u1ef1a ch\u1ecdn Warsh s\u1ebd l\u00e0 m\u1ed9t canh b\u1ea1c, m\u1ed9t cu\u1ed9c c\u1ea3i t\u1ed5 to\u00e0n di\u1ec7n c\u00f3 th\u1ec3 \u0111\u1ecbnh h\u00ecnh l\u1ea1i vai tr\u00f2 c\u1ee7a ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng trong th\u1ebf k\u1ef7 21.<\/p>\n

\"Gh\u1ebf
\n

T\u1ed5ng th\u1ed1ng Donald Trump v\u1eeba x\u00e1c nh\u1eadn 3 \u1ee9ng vi\u00ean h\u00e0ng \u0111\u1ea7u thay th\u1ebf Ch\u1ee7 t\u1ecbch C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang (Fed) Jerome Powell l\u00e0 Kevin Hassett, Kevin Warsh v\u00e0 Christopher Waller (\u1ea2nh: CoinGape).<\/p>\n<\/figcaption><\/figure>\n

L\u1ef1a ch\u1ecdn ch\u1ee7 t\u1ecbch Fed v\u00e0 v\u1eadn m\u1ec7nh n\u01b0\u1edbc M\u1ef9<\/h4>\n

Kh\u00f4ng ch\u1ec9 l\u00e0 c\u00e2u chuy\u1ec7n n\u1ed9i b\u1ed9 c\u1ee7a Washington, cu\u1ed9c \u0111ua gi\u00e0nh gh\u1ebf n\u00f3ng Fed di\u1ec5n ra trong b\u1ed1i c\u1ea3nh n\u01b0\u1edbc M\u1ef9 \u0111ang \u0111\u1ed1i m\u1eb7t v\u1edbi nh\u1eefng th\u00e1ch th\u1ee9c d\u00e0i h\u1ea1n mang t\u00ednh c\u1ea5u tr\u00fac.<\/p>\n

Th\u00e1ng 10 t\u1edbi, T\u00f2a \u00e1n T\u1ed1i cao s\u1ebd ra ph\u00e1n quy\u1ebft v\u1ec1 vi\u1ec7c li\u1ec7u T\u1ed5ng th\u1ed1ng c\u00f3 quy\u1ec1n \u00e1p thu\u1ebf m\u00e0 kh\u00f4ng c\u1ea7n Qu\u1ed1c h\u1ed9i ph\u00ea chu\u1ea9n hay kh\u00f4ng. M\u1ed9t ph\u00e1n quy\u1ebft \u1ee7ng h\u1ed9 \u00f4ng Trump s\u1ebd trao cho ch\u00ednh ph\u1ee7 m\u1ed9t quy\u1ec1n l\u1ef1c kinh t\u1ebf ch\u01b0a t\u1eebng c\u00f3, c\u00f3 nguy c\u01a1 bi\u1ebfn n\u01b0\u1edbc M\u1ef9 th\u00e0nh m\u1ed9t ph\u00e1o \u0111\u00e0i \u0111\u01b0\u1ee3c bao b\u1ecdc b\u1edfi c\u00e1c b\u1ee9c t\u01b0\u1eddng thu\u1ebf quan, khi\u1ebfn ng\u01b0\u1eddi d\u00e2n ngh\u00e8o \u0111i v\u00e0 c\u00e1c doanh nghi\u1ec7p b\u1ecb khu\u1ea5t ph\u1ee5c.<\/p>\n

Trong k\u1ecbch b\u1ea3n \u0111\u00f3, m\u1ed9t Fed m\u1edbi d\u01b0\u1edbi s\u1ef1 l\u00e3nh \u0111\u1ea1o c\u1ee7a m\u1ed9t ng\u01b0\u1eddi nh\u01b0 Hassett ho\u1eb7c th\u1eadm ch\u00ed l\u00e0 Warsh c\u00f3 th\u1ec3 s\u1ebd \u0111\u1eb7t “\u01b0u ti\u00ean t\u00e0i kh\u00f3a” (fiscal dominance) l\u00e0m kim ch\u1ec9 nam. N\u00f3i m\u1ed9t c\u00e1ch d\u1ec5 hi\u1ec3u, Fed c\u00f3 th\u1ec3 s\u1ebd bu\u1ed9c ph\u1ea3i gi\u1eef l\u00e3i su\u1ea5t th\u1ea5p \u0111\u1ec3 gi\u1ea3m chi ph\u00ed tr\u1ea3 n\u1ee3 cho c\u00e1c kho\u1ea3n th\u00e2m h\u1ee5t ng\u00e2n s\u00e1ch ng\u00e0y c\u00e0ng ph\u00ecnh to c\u1ee7a ch\u00ednh ph\u1ee7. \u0110i\u1ec1u n\u00e0y s\u1ebd l\u00e0 m\u1ed9t th\u1ea3m h\u1ecda, c\u00f3 th\u1ec3 khi\u1ebfn l\u1ea1m ph\u00e1t quay tr\u1edf l\u1ea1i v\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 qu\u1ed1c t\u1ebf m\u1ea5t ni\u1ec1m tin, \u0111\u00f2i h\u1ecfi l\u00e3i su\u1ea5t cao h\u01a1n \u0111\u1ec3 t\u00e0i tr\u1ee3 cho n\u1ee3 c\u1ee7a M\u1ef9.<\/p>\n

Trong khi \u0111\u00f3, tr\u00ean tr\u01b0\u1eddng qu\u1ed1c t\u1ebf, v\u1ecb th\u1ebf c\u1ee7a \u0111\u1ed3ng USD \u0111ang b\u1ecb th\u00e1ch th\u1ee9c. Trung Qu\u1ed1c, c\u00f9ng v\u1edbi kh\u1ed1i BRICS, \u0111ang n\u1ed7 l\u1ef1c tru\u1ea5t ng\u00f4i “vua \u0111\u00f4 la” kh\u1ecfi vai tr\u00f2 \u0111\u1ed3ng ti\u1ec1n th\u01b0\u01a1ng m\u1ea1i v\u00e0 d\u1ef1 tr\u1eef to\u00e0n c\u1ea7u. M\u1ed9t Fed b\u1ecb ch\u00ednh tr\u1ecb h\u00f3a v\u00e0 m\u1ed9t \u0111\u1ed3ng \u0111\u00f4la b\u1ecb T\u1ed5ng th\u1ed1ng ch\u1ee7 \u0111\u1ed9ng t\u00ecm c\u00e1ch ph\u00e1 gi\u00e1 \u0111\u1ec3 h\u1ea1n ch\u1ebf nh\u1eadp kh\u1ea9u s\u1ebd ch\u1ec9 ti\u1ebfp th\u00eam s\u1ee9c m\u1ea1nh cho nh\u1eefng n\u1ed7 l\u1ef1c n\u00e0y.<\/p>\n

Quy\u1ebft \u0111\u1ecbnh c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t trong th\u00e1ng 9 n\u00e0y ch\u1ec9 l\u00e0 c\u01a1n gi\u00f3 nh\u1eb9 b\u00e1o hi\u1ec7u. C\u01a1n b\u00e3o th\u1ef1c s\u1ef1 n\u1eb1m \u1edf l\u1ef1a ch\u1ecdn ng\u01b0\u1eddi s\u1ebd ng\u1ed3i v\u00e0o chi\u1ebfc gh\u1ebf n\u00f3ng t\u1ea1i Fed v\u00e0o n\u0103m t\u1edbi. Vi\u1ec7c l\u1ef1a ch\u1ecdn Ch\u1ee7 t\u1ecbch Fed ti\u1ebfp theo kh\u00f4ng \u0111\u01a1n thu\u1ea7n l\u00e0 m\u1ed9t s\u1ef1 thay \u0111\u1ed5i nh\u00e2n s\u1ef1 m\u00e0 c\u00f2n l\u00e0 m\u1ed9t quy\u1ebft \u0111\u1ecbnh mang t\u00ednh \u0111\u1ecbnh h\u00ecnh v\u1ec1 t\u01b0\u01a1ng lai c\u1ee7a t\u00ednh \u0111\u1ed9c l\u1eadp ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng, v\u1ec1 vai tr\u00f2 c\u1ee7a ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 v\u00e0 v\u1ec1 c\u00e1ch n\u01b0\u1edbc M\u1ef9 \u0111\u1ed1i m\u1eb7t v\u1edbi nh\u1eefng th\u00e1ch th\u1ee9c kinh t\u1ebf v\u00e0 \u0111\u1ecba ch\u00ednh tr\u1ecb to l\u1edbn trong th\u1eadp k\u1ef7 t\u1edbi.<\/p>\n<\/div>", "protected": false }, "excerpt": { "rendered": "

Th\u00e1ng 9 \u0111ang ph\u1ee7 m\u1ed9t b\u00f3ng m\u00e2y \u0111\u1ea7y toan t\u00ednh l\u00ean n\u1ec1n kinh t\u1ebf M\u1ef9. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00edn […]<\/p>", "protected": false }, "author": 1, "featured_media": 48430, "comment_status": "open", "ping_status": "open", "sticky": false, "template": "", "format": "standard", "meta": { "_acf_changed": false, "footnotes": "" }, "categories": [ 94 ], "tags": [], "class_list": [ "post-48429", "post", "type-post", "status-publish", "format-standard", "has-post-thumbnail", "hentry", "category-tin-tuc-trong-nuoc" ], "acf": [], "_links": { "self": [ { "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/posts\/48429", "targetHints": { "allow": [ "GET" ] } } ], "collection": [ { "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/posts" } ], "about": [ { "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/types\/post" } ], "author": [ { "embeddable": true, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/users\/1" } ], "replies": [ { "embeddable": true, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/comments?post=48429" } ], "version-history": [ { "count": 0, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/posts\/48429\/revisions" } ], "wp:featuredmedia": [ { "embeddable": true, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/media\/48430" } ], "wp:attachment": [ { "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/media?parent=48429" } ], "wp:term": [ { "taxonomy": "category", "embeddable": true, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/categories?post=48429" }, { "taxonomy": "post_tag", "embeddable": true, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/tags?post=48429" } ], "curies": [ { "name": "wp", "href": "https:\/\/api.w.org\/{rel}", "templated": true } ] } }