{"id":65915,"date":"2026-03-27T09:04:47","date_gmt":"2026-03-27T02:04:47","guid":{"rendered":"https:\/\/hbbgroup.net\/feds-miran-shrinking-the-size-of-the-balance-sheet-is-desirable\/"},"modified":"2026-03-27T10:43:09","modified_gmt":"2026-03-27T03:43:09","slug":"feds-miran-shrinking-the-size-of-the-balance-sheet-is-desirable","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/vi\/feds-miran-shrinking-the-size-of-the-balance-sheet-is-desirable\/","title":{"rendered":"\u00d4ng Miran c\u1ee7a Fed: Vi\u1ec7c thu h\u1eb9p quy m\u00f4 b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n l\u00e0 \u0111i\u1ec1u mong mu\u1ed1n"},"content":{"rendered":"
\n

\u00d4ng Stephen Miran<\/strong>, th\u00e0nh vi\u00ean H\u1ed9i \u0111\u1ed3ng Th\u1ed1ng \u0111\u1ed1c c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang M\u1ef9 (Fed)<\/strong>, cho bi\u1ebft h\u00f4m th\u1ee9 N\u0103m r\u1eb1ng vi\u1ec7c thu h\u1eb9p quy m\u00f4 b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n<\/strong> gi\u00fap cho ch\u00ednh s\u00e1ch l\u00e3i su\u1ea5t tr\u1edf n\u00ean d\u1ec5 tri\u1ec3n khai h\u01a1n.<\/p>\n

\u00d4ng Miran c\u0169ng nh\u1ea5n m\u1ea1nh r\u1eb1ng nh\u1eefng ng\u01b0\u1eddi cho r\u1eb1ng b\u1ea3ng c\u00e2n \u0111\u1ed1i c\u1ee7a Fed kh\u00f4ng th\u1ec3 thu h\u1eb9p \u201c\u0111\u01a1n gi\u1ea3n l\u00e0 thi\u1ebfu t\u01b0\u1edfng t\u01b0\u1ee3ng<\/strong>.\u201d<\/p>\n

N\u1ebfu mu\u1ed1n, m\u00ecnh c\u00f3 th\u1ec3 gi\u1ea3i th\u00edch th\u00eam t\u1ea1i sao vi\u1ec7c thu h\u1eb9p b\u1ea3ng c\u00e2n \u0111\u1ed1i gi\u00fap Fed linh ho\u1ea1t h\u01a1n v\u1edbi l\u00e3i su\u1ea5t<\/strong> v\u00e0 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh. B\u1ea1n c\u00f3 mu\u1ed1n m\u00ecnh l\u00e0m kh\u00f4ng?<\/p>\n

Nh\u1eefng tr\u00edch d\u1eabn b\u1ed5 sung t\u1eeb \u00f4ng Miran (Fed):<\/strong><\/h2>\n
    \n
  • C\u00f3 \u0111\u01b0\u1eddng h\u01b0\u1edbng \u0111\u1ec3 thu h\u1eb9p l\u01b0\u1ee3ng n\u1eafm gi\u1eef c\u1ee7a Fed<\/strong> kho\u1ea3ng 1\u20132 ngh\u00ecn t\u1ef7 USD<\/strong>.<\/li>\n
  • Tuy nhi\u00ean, \u00f4ng nh\u1ea5n m\u1ea1nh r\u1eb1ng vi\u1ec7c theo \u0111u\u1ed5i b\u1ea3ng c\u00e2n \u0111\u1ed1i nh\u1ecf h\u01a1n<\/strong> s\u1ebd m\u1ea5t v\u00e0i n\u0103m<\/strong>.<\/li>\n
  • Vi\u1ec7c thu h\u1eb9p b\u1ea3ng c\u00e2n \u0111\u1ed1i ph\u1ee5 thu\u1ed9c v\u00e0o s\u1ef1 thay \u0111\u1ed5i nhu c\u1ea7u v\u1ec1 d\u1ef1 tr\u1eef<\/strong>.<\/li>\n
  • B\u1ea3ng c\u00e2n \u0111\u1ed1i nh\u1ecf h\u01a1n<\/strong> s\u1ebd mang l\u1ea1i cho Fed nhi\u1ec1u l\u1ef1a ch\u1ecdn h\u01a1n trong cu\u1ed9c kh\u1ee7ng ho\u1ea3ng ti\u1ebfp theo<\/strong>.<\/li>\n
  • B\u1ea3ng c\u00e2n \u0111\u1ed1i l\u1edbn l\u00e0m m\u00e9o m\u00f3 th\u1ecb tr\u01b0\u1eddng<\/strong> v\u00e0 t\u1ea1o ra c\u00e1c v\u1ea5n \u0111\u1ec1 cho Fed.<\/li>\n
  • \u00d4ng kh\u00f4ng th\u1ea5y l\u00fd do \u0111\u1ec3 b\u00e1n b\u1ea5t k\u1ef3 t\u00e0i s\u1ea3n n\u1eafm gi\u1eef n\u00e0o c\u1ee7a Fed<\/strong>.<\/li>\n
  • Kh\u00f4ng \u1ee7ng h\u1ed9 vi\u1ec7c quay l\u1ea1i h\u1ec7 th\u1ed1ng d\u1ef1 tr\u1eef khan hi\u1ebfm<\/strong>.<\/li>\n
  • Can thi\u1ec7p t\u00edch c\u1ef1c h\u01a1n c\u1ee7a Fed tr\u00ean th\u1ecb tr\u01b0\u1eddng<\/strong> c\u00f3 th\u1ec3 gi\u00fap gi\u1ea3m quy m\u00f4 b\u1ea3ng c\u00e2n \u0111\u1ed1i.<\/li>\n
  • Fed n\u00ean x\u00f3a b\u1ecf s\u1ef1 k\u1ef3 th\u1ecb v\u1edbi c\u00e1c ho\u1ea1t \u0111\u1ed9ng repo v\u00e0 c\u1eeda s\u1ed5 chi\u1ebft kh\u1ea5u (discount window)<\/strong>.<\/li>\n<\/ul>\n

    Ph\u1ea3n \u1ee9ng th\u1ecb tr\u01b0\u1eddng:<\/strong><\/h2>\n

    Nh\u1eefng ph\u00e1t bi\u1ec3u n\u00e0y kh\u00f4ng t\u1ea1o nhi\u1ec1u \u0111\u1ed9ng l\u1ef1c cho \u0111\u1ed3ng \u0110\u00f4 la M\u1ef9 (USD)<\/strong>, khi t\u00e2m \u0111i\u1ec3m th\u1ecb tr\u01b0\u1eddng v\u1eabn t\u1eadp trung v\u00e0o c\u00e1c di\u1ec5n bi\u1ebfn li\u00ean quan \u0111\u1ebfn xung \u0111\u1ed9t \u0111ang di\u1ec5n ra \u1edf Trung \u0110\u00f4ng<\/strong>.<\/p>\n

    N\u1ebfu b\u1ea1n mu\u1ed1n, m\u00ecnh c\u00f3 th\u1ec3 t\u00f3m t\u1eaft \u00fd ch\u00ednh<\/strong> c\u1ee7a c\u00e1c ph\u00e1t bi\u1ec3u n\u00e0y \u0111\u1ec3 d\u1ec5 n\u1eafm b\u1eaft nhanh h\u01a1n v\u00e0 k\u00e8m d\u1ef1 \u0111o\u00e1n t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn th\u1ecb tr\u01b0\u1eddng USD. B\u1ea1n c\u00f3 mu\u1ed1n m\u00ecnh l\u00e0m kh\u00f4ng?<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

    \u00d4ng Stephen Miran, th\u00e0nh vi\u00ean H\u1ed9i \u0111\u1ed3ng Th\u1ed1ng \u0111\u1ed1c c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang M\u1ef9 (Fed), cho bi\u1ebft h\u00f4m […]<\/p>","protected":false},"author":5,"featured_media":65917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[222],"tags":[],"class_list":["post-65915","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ngoai-hoi"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/65915","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=65915"}],"version-history":[{"count":1,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/65915\/revisions"}],"predecessor-version":[{"id":66167,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/65915\/revisions\/66167"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media\/65917"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media?parent=65915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/categories?post=65915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/tags?post=65915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}