{"id":59372,"date":"2026-01-14T10:12:17","date_gmt":"2026-01-14T03:12:17","guid":{"rendered":"https:\/\/hbbgroup.net\/fed-doi-mat-khung-hoang-chua-tung-co\/"},"modified":"2026-01-14T10:12:17","modified_gmt":"2026-01-14T03:12:17","slug":"fed-doi-mat-khung-hoang-chua-tung-co","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/vi\/fed-doi-mat-khung-hoang-chua-tung-co\/","title":{"rendered":"Fed \u0111\u1ed1i m\u1eb7t kh\u1ee7ng ho\u1ea3ng ch\u01b0a t\u1eebng c\u00f3"},"content":{"rendered":"
\n
\n

\"Fed<\/p>

\n

\u1ea2nh ch\u1ee5p b\u00ean ngo\u00e0i tr\u1ee5 s\u1edf C\u1ee5c D\u1ef1 tr\u1eef li\u00ean bang M\u1ef9 – \u1ea2nh: REUTERS<\/p>\n<\/figcaption><\/figure>\n

Ng\u00e0y 12-1, \u0111\u1ed3ng USD v\u00e0 c\u00e1c h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai c\u1ee7a Ph\u1ed1 Wall gi\u1ea3m \u0111i\u1ec3m, trong khi v\u00e0ng v\u00e0 b\u1ea1c t\u0103ng m\u1ea1nh sau khi ch\u00ednh quy\u1ec1n T\u1ed5ng th\u1ed1ng Trump \u0111e d\u1ecda truy t\u1ed1 h\u00ecnh s\u1ef1 Ch\u1ee7 t\u1ecbch C\u1ee5c D\u1ef1 tr\u1eef li\u00ean bang M\u1ef9 (Fed) Jerome Powell.\u00a0<\/p>\n

Theo truy\u1ec1n th\u00f4ng M\u1ef9, cu\u1ed9c \u0111i\u1ec1u tra n\u00e0y \u0111\u00e1nh d\u1ea5u b\u01b0\u1edbc leo thang g\u00e2y ch\u00fa \u00fd trong chi\u1ebfn d\u1ecbch g\u00e2y s\u1ee9c \u00e9p k\u00e9o d\u00e0i c\u1ee7a T\u1ed5ng th\u1ed1ng Trump nh\u1eb1m v\u00e0o \u00f4ng Powell – ng\u01b0\u1eddi li\u00ean t\u1ee5c b\u1ecb c\u00f4ng k\u00edch v\u00ec ch\u1ed1ng l\u1ea1i y\u00eau c\u1ea7u c\u1eaft gi\u1ea3m m\u1ea1nh l\u00e3i su\u1ea5t.<\/p>\n

Th\u1ecb tr\u01b0\u1eddng bi\u1ebfn \u0111\u1ed9ng<\/h2>\n

Theo CNBC, gi\u00e1 v\u00e0ng v\u01b0\u1ee3t m\u1ed1c k\u1ef7 l\u1ee5c 4.600 USD\/ounce, c\u00f3 l\u00fac v\u1ecdt l\u00ean 4.629,94 USD\/ounce. H\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai v\u00e0ng M\u1ef9 giao th\u00e1ng 2 ch\u1ed1t phi\u00ean t\u0103ng 2,5% l\u00ean 4.614,70 USD. Ng\u01b0\u1ee3c l\u1ea1i, h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai theo d\u00f5i ch\u1ec9 s\u1ed1 S&P 500 gi\u1ea3m 0,75%, Dow Jones Industrial Average gi\u1ea3m 0,65%, c\u00f2n Nasdaq 100 gi\u1ea3m h\u01a1n 1%.<\/p>\n

Th\u1ecb tr\u01b0\u1eddng li\u00ean t\u1ee5c bi\u1ebfn \u0111\u1ed9ng khi gi\u1edbi \u0111\u1ea7u t\u01b0 lo ng\u1ea1i nguy c\u01a1 can thi\u1ec7p ch\u00ednh tr\u1ecb v\u00e0o Fed. Theo b\u00e1o New York Times ng\u00e0y 11-1, V\u0103n ph\u00f2ng C\u00f4ng t\u1ed1 li\u00ean bang M\u1ef9 \u0111\u00e3 m\u1edf cu\u1ed9c \u0111i\u1ec1u tra h\u00ecnh s\u1ef1 \u0111\u1ed1i v\u1edbi \u00f4ng Powell li\u00ean quan \u0111\u1ebfn vi\u1ec7c c\u1ea3i t\u1ea1o tr\u1ee5 s\u1edf ch\u00ednh c\u1ee7a Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng t\u1ea1i Washington v\u00e0 nghi v\u1ea5n \u00f4ng khai gian tr\u01b0\u1edbc Qu\u1ed1c h\u1ed9i v\u1ec1 quy m\u00f4 d\u1ef1 \u00e1n.<\/p>\n

Tr\u01b0\u1edbc \u0111\u00f3, T\u1ed5ng th\u1ed1ng Trump nhi\u1ec1u l\u1ea7n \u0111e d\u1ecda sa th\u1ea3i Ch\u1ee7 t\u1ecbch Fed, b\u1ea5t ch\u1ea5p vi\u1ec7c ch\u00ednh \u00f4ng \u0111\u00e3 \u0111\u1ec1 c\u1eed \u00f4ng Powell v\u00e0o v\u1ecb tr\u00ed n\u00e0y h\u1ed3i n\u0103m 2017. T\u1ed5ng th\u1ed1ng Trump c\u00f2n \u00fap m\u1edf kh\u1ea3 n\u0103ng kh\u1edfi ki\u1ec7n \u00f4ng Powell li\u00ean quan \u0111\u1ebfn d\u1ef1 \u00e1n c\u1ea3i t\u1ea1o tr\u1ecb gi\u00e1 2,5 t\u1ec9 USD v\u1edbi l\u00fd do “thi\u1ebfu n\u0103ng l\u1ef1c”.<\/p>\n

\u0110\u00e1p l\u1ea1i, \u00f4ng Powell c\u1ea3nh b\u00e1o cu\u1ed9c \u0111i\u1ec1u tra l\u00e0 t\u00edn hi\u1ec7u m\u1edf ra cu\u1ed9c \u0111\u1ed1i \u0111\u1ea7u r\u1ed9ng l\u1edbn h\u01a1n li\u00ean quan \u0111\u1ebfn t\u00ednh \u0111\u1ed9c l\u1eadp c\u1ee7a Fed.\u00a0<\/p>\n

\u00d4ng kh\u1eb3ng \u0111\u1ecbnh: “M\u1ed1i \u0111e d\u1ecda truy t\u1ed1 h\u00ecnh s\u1ef1 l\u00e0 h\u1ec7 qu\u1ea3 c\u1ee7a vi\u1ec7c C\u1ee5c D\u1ef1 tr\u1eef li\u00ean bang thi\u1ebft l\u1eadp l\u00e3i su\u1ea5t d\u1ef1a tr\u00ean \u0111\u00e1nh gi\u00e1 t\u1ed1t nh\u1ea5t c\u1ee7a ch\u00fang t\u00f4i v\u1ec1 \u0111i\u1ec1u g\u00ec ph\u1ee5c v\u1ee5 l\u1ee3i \u00edch c\u00f4ng ch\u00fang, thay v\u00ec tu\u00e2n theo c\u00e1c \u01b0u ti\u00ean c\u1ee7a t\u1ed5ng th\u1ed1ng.\u00a0<\/p>\n

V\u1ea5n \u0111\u1ec1 \u1edf \u0111\u00e2y l\u00e0 li\u1ec7u Fed c\u00f3 th\u1ec3 ti\u1ebfp t\u1ee5c quy\u1ebft \u0111\u1ecbnh l\u00e3i su\u1ea5t d\u1ef1a tr\u00ean b\u1eb1ng ch\u1ee9ng v\u00e0 c\u00e1c \u0111i\u1ec1u ki\u1ec7n kinh t\u1ebf hay kh\u00f4ng, hay ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 s\u1ebd b\u1ecb chi ph\u1ed1i b\u1edfi s\u1ee9c \u00e9p ho\u1eb7c s\u1ef1 \u0111e d\u1ecda mang t\u00ednh ch\u00ednh tr\u1ecb”.<\/p>\n

Ba k\u1ecbch b\u1ea3n c\u00f3 th\u1ec3 x\u1ea3y ra<\/h2>\n

\u00d4ng Roger Altman – nh\u00e0 s\u00e1ng l\u1eadp Ng\u00e2n h\u00e0ng \u0111\u1ea7u t\u01b0 Evercore ki\u00eam c\u1ef1u Th\u1ee9 tr\u01b0\u1edfng T\u00e0i ch\u00ednh M\u1ef9 – cho r\u1eb1ng c\u00f3 nhi\u1ec1u k\u1ecbch b\u1ea3n t\u1ed3i t\u1ec7 c\u00f3 th\u1ec3 x\u1ea3y ra. \u1ede k\u1ecbch b\u1ea3n \u0111\u1ea7u ti\u00ean, T\u1ed5ng th\u1ed1ng Trump s\u1ebd t\u00ecm c\u00e1ch sa th\u1ea3i \u00f4ng Powell.\u00a0<\/p>\n

Theo CNBC, n\u1ebfu \u0111i\u1ec1u n\u00e0y x\u1ea3y ra thay v\u00ec bu\u1ed9c \u00f4ng t\u1eeb ch\u1ee9c, \u00f4ng Powell c\u00f3 kh\u1ea3 n\u0103ng s\u1ebd kh\u1edfi ki\u1ec7n \u0111\u1ec3 ng\u0103n ch\u1eb7n.\u00a0<\/p>\n

Trong tr\u01b0\u1eddng h\u1ee3p n\u00e0y, \u00f4ng Powell v\u1eabn gi\u1eef vai tr\u00f2 Ch\u1ee7 t\u1ecbch Fed tr\u00ean th\u1ef1c t\u1ebf, song song \u0111\u00f3 T\u1ed5ng th\u1ed1ng Trump ti\u1ebfp t\u1ee5c t\u00ecm c\u00e1ch xin l\u1ec7nh t\u00f2a \u00e1n \u0111\u1ec3 b\u00e3i nhi\u1ec7m \u00f4ng. C\u00f4ng ty ph\u00e2n t\u00edch Wolfe Research nh\u1eadn \u0111\u1ecbnh v\u1ee5 vi\u1ec7c nhi\u1ec1u kh\u1ea3 n\u0103ng s\u1ebd \u0111\u01b0\u1ee3c \u0111\u01b0a l\u00ean T\u00f2a \u00e1n t\u1ed1i cao M\u1ef9.<\/p>\n

K\u1ecbch b\u1ea3n th\u1ee9 hai h\u00e0i h\u00f2a h\u01a1n: \u00f4ng Powell t\u1ef1 nguy\u1ec7n r\u1eddi ch\u1ee9c r\u1ed3i kh\u1edfi ki\u1ec7n \u0111\u1ec3 \u0111\u01b0\u1ee3c ph\u1ee5c ch\u1ee9c. Tranh ch\u1ea5p ph\u00e1p l\u00fd v\u1eabn c\u00f3 th\u1ec3 leo thang l\u00ean T\u00f2a \u00e1n t\u1ed1i cao v\u00ec c\u00e1c th\u1ea9m ph\u00e1n c\u00f3 th\u1ec3 cho r\u1eb1ng, kh\u00e1c v\u1edbi c\u00e1c c\u01a1 quan \u0111\u1ed9c l\u1eadp kh\u00e1c, Fed l\u00e0 tr\u01b0\u1eddng h\u1ee3p \u0111\u1eb7c bi\u1ec7t khi x\u00e9t \u0111\u1ebfn c\u01a1 ch\u1ebf b\u1ea3o v\u1ec7 l\u00e3nh \u0111\u1ea1o kh\u1ecfi vi\u1ec7c b\u1ecb sa th\u1ea3i “kh\u00f4ng c\u00f3 l\u00fd do ch\u00ednh \u0111\u00e1ng”.<\/p>\n

K\u1ecbch b\u1ea3n th\u1ee9 ba nghi\u00eam tr\u1ecdng nh\u1ea5t: n\u1ebfu \u00f4ng Powell ki\u00ean quy\u1ebft ti\u1ebfp t\u1ee5c \u0111i\u1ec1u h\u00e0nh Fed, T\u1ed5ng th\u1ed1ng Trump c\u00f3 th\u1ec3 b\u00e3i nhi\u1ec7m \u00f4ng b\u1eb1ng h\u00e0nh \u0111\u1ed9ng h\u00e0nh ph\u00e1p tr\u1ef1c ti\u1ebfp, th\u1eadm ch\u00ed k\u00e8m bi\u1ec7n ph\u00e1p c\u01b0\u1ee1ng ch\u1ebf.\u00a0<\/p>\n

Wolfe Research c\u1ea3nh b\u00e1o: “H\u00ecnh \u1ea3nh \u00f4ng Powell b\u1ecb c\u1ea3nh s\u00e1t D.C ho\u1eb7c l\u1ef1c l\u01b0\u1ee3ng th\u1ef1c thi ph\u00e1p lu\u1eadt li\u00ean bang \u00e1p gi\u1ea3i ra kh\u1ecfi tr\u1ee5 s\u1edf Fed s\u1ebd l\u00e0 m\u1ed9t t\u00edn hi\u1ec7u c\u1ef1c k\u1ef3 \u0111\u00e1ng lo ng\u1ea1i \u0111\u1ed1i v\u1edbi th\u1ecb tr\u01b0\u1eddng”.<\/p>\n

D\u00f9 k\u1ecbch b\u1ea3n n\u00e0o x\u1ea3y ra, gi\u00e1o s\u01b0 Costas Milas thu\u1ed9c \u0110\u1ea1i h\u1ecdc Liverpool nh\u1eadn \u0111\u1ecbnh c\u00e1c tranh ch\u1ea5p ph\u00e1p l\u00fd li\u00ean quan \u0111\u1ebfn Ch\u1ee7 t\u1ecbch Fed “r\u00f5 r\u00e0ng kh\u00f4ng ph\u1ea3i l\u00e0 m\u1ed9t kh\u1edfi \u0111\u1ea7u kinh t\u1ebf t\u1ed1t cho n\u0103m 2026”, v\u00ec n\u1ebfu th\u1ecb tr\u01b0\u1eddng m\u1ea5t ni\u1ec1m tin v\u00e0o Fed, Fed c\u0169ng s\u1ebd m\u1ea5t kh\u1ea3 n\u0103ng \u1ee9ng ph\u00f3 v\u1edbi c\u00e1c cu\u1ed9c kh\u1ee7ng ho\u1ea3ng t\u00e0i ch\u00ednh trong t\u01b0\u01a1ng lai.<\/p>\n

\n

13 nh\u00e2n v\u1eadt kinh t\u1ebf h\u00e0ng \u0111\u1ea7u c\u00f9ng l\u00ean ti\u1ebfng<\/h3>\n

Ng\u00e0y 12-1, 13 nh\u00e2n v\u1eadt kinh t\u1ebf h\u00e0ng \u0111\u1ea7u n\u01b0\u1edbc M\u1ef9, trong \u0111\u00f3 c\u00f3 3 c\u1ef1u Ch\u1ee7 t\u1ecbch Fed l\u00e0 Alan Greenspan, Ben Bernanke v\u00e0 Janet Yellen, c\u00f9ng 5 c\u1ef1u B\u1ed9 tr\u01b0\u1edfng T\u00e0i ch\u00ednh M\u1ef9, \u0111\u00e3 \u0111\u01b0a ra tuy\u00ean b\u1ed1 chung mang t\u00ean “Tuy\u00ean b\u1ed1 v\u1ec1 C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang” nh\u1eb1m l\u00ean \u00e1n h\u00e0nh \u0111\u1ed9ng c\u1ee7a B\u1ed9 T\u01b0 ph\u00e1p M\u1ef9.<\/p>\n

Tuy\u00ean b\u1ed1 n\u00eau r\u00f5: “T\u00ednh \u0111\u1ed9c l\u1eadp c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang, c\u0169ng nh\u01b0 nh\u1eadn th\u1ee9c c\u1ee7a c\u00f4ng ch\u00fang v\u1ec1 s\u1ef1 \u0111\u1ed9c l\u1eadp \u0111\u00f3, c\u00f3 \u00fd ngh\u0129a then ch\u1ed1t \u0111\u1ed1i v\u1edbi k\u1ebft qu\u1ea3 kinh t\u1ebf. Cu\u1ed9c \u0111i\u1ec1u tra h\u00ecnh s\u1ef1 nh\u1eb1m v\u00e0o Ch\u1ee7 t\u1ecbch Fed Powell l\u00e0 m\u1ed9t n\u1ed7 l\u1ef1c ch\u01b0a t\u1eebng c\u00f3 ti\u1ec1n l\u1ec7, khi s\u1eed d\u1ee5ng c\u00f4ng c\u1ee5 truy t\u1ed1 \u0111\u1ec3 l\u00e0m suy y\u1ebfu t\u00ednh \u0111\u1ed9c l\u1eadp \u0111\u00f3”.<\/p>\n<\/p><\/div>\n

<\/pattern> <\/defs> <\/svg> \u0110\u1ecdc ti\u1ebfp <\/a> <\/pattern> <\/defs> <\/svg> V\u1ec1 trang Ch\u1ee7 \u0111\u1ec1 <\/a> <\/p>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

\u1ea2nh ch\u1ee5p b\u00ean ngo\u00e0i tr\u1ee5 s\u1edf C\u1ee5c D\u1ef1 tr\u1eef li\u00ean bang M\u1ef9 – \u1ea2nh: REUTERS Ng\u00e0y 12-1, \u0111\u1ed3ng USD v\u00e0 […]<\/p>","protected":false},"author":5,"featured_media":59373,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[95],"tags":[],"class_list":["post-59372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tin-tuc-the-gioi-vi"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/59372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/comments?post=59372"}],"version-history":[{"count":0,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/59372\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media\/59373"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media?parent=59372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/categories?post=59372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/tags?post=59372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}