{"id":9810,"date":"2026-08-26T09:16:55","date_gmt":"2026-08-26T09:16:55","guid":{"rendered":"https:\/\/www.mdwcc.com\/?p=9810"},"modified":"2026-08-26T09:16:58","modified_gmt":"2026-08-26T09:16:58","slug":"the-double-whammy-of-inflation-stickiness-and-fiscal-intervention-the-underlying-logic-and-verification-points-of-the-feds-policy-dilemma","status":"publish","type":"post","link":"https:\/\/www.mdwcc.com\/ko\/the-double-whammy-of-inflation-stickiness-and-fiscal-intervention-the-underlying-logic-and-verification-points-of-the-feds-policy-dilemma\/","title":{"rendered":"\uc778\ud50c\ub808\uc774\uc158 \uacbd\uc9c1\uc131\uacfc \uc7ac\uc815 \uac1c\uc785\uc758 \uc774\uc911 \ud0c0\uaca9: \uc5f0\uc900 \uc815\ucc45 \ub51c\ub808\ub9c8\uc758 \uadfc\ubcf8 \ub17c\ub9ac\uc640 \uac80\uc99d \ud3ec\uc778\ud2b8"},"content":{"rendered":"<p>Based on ACE Markets&#8217; end-to-end \uac70\uc2dc\uacbd\uc81c \uc804\uc774 \ubd84\uc11d \ud504\ub808\uc784\uc6cc\ud06c\uc5d0 \ub530\ub974\uba74, \ud604\uc7ac \ubbf8\uad6d \uae08\ub9ac \uc2dc\uc7a5\uc740 \uc790\uae30\uac15\ud654\uc801 \ub51c\ub808\ub9c8\uc5d0 \ube60\uc838 \uc788\uc2b5\ub2c8\ub2e4: \uc9c0\uc18d\uc801\uc778 \uc778\ud50c\ub808\uc774\uc158\uc774 \uc7a5\uae30 \uad6d\ucc44 \uc218\uc775\ub960\uc744 \ub04c\uc5b4\uc62c\ub9ac\uace0, \uc7ac\ubb34\ubd80\ub294 \ucc28\uc785 \ube44\uc6a9\uc744 \uc5b5\uc81c\ud558\uae30 \uc704\ud574 \ucc44\uad8c \uc2dc\uc7a5\uc5d0 \uac1c\uc785\ud558\uba70, \uc774\ub7ec\ud55c \uac1c\uc785\uc774 \ub2e4\uc2dc \ud1b5\ud654\uc815\ucc45\uc758 \uc778\ud50c\ub808\uc774\uc158 \uc5b5\uc81c \ud6a8\uacfc\ub97c \uc57d\ud654\uc2dc\ucf1c \uc778\ud50c\ub808\uc774\uc158 \uc555\ub825\uc744 \ub354\uc6b1 \uacf5\uace0\ud788 \ud569\ub2c8\ub2e4. \ub300\ubd80\ubd84\uc758 \uc2dc\uc7a5 \ubd84\uc11d\uc740 \uc5ec\uc804\ud788 PCE \ub370\uc774\ud130\ub97c \ub2e8\ub3c5\uc73c\ub85c \ud574\uc11d\ud558\uac70\ub098 \uc7ac\ubb34\ubd80\uc758 \uc870\uce58\ub97c \ub2e8\ub3c5\uc73c\ub85c \ud3c9\uac00\ud558\ub294 \ub370 \uc9d1\uc911\ud558\uace0 \uc788\uc5b4, \ub450 \uc694\uc778 \uac04\uc758 \uc0c1\ud638 \uac15\ud654 \ubc0f \uc99d\ud3ed \uc804\uc774 \uba54\ucee4\ub2c8\uc998\uc744 \ud3ec\ucc29\ud558\uc9c0 \ubabb\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4\u2014\uc774\uac83\uc774 \ubbf8\uad6d \uad6d\ucc44\uc758 \ud5a5\ud6c4 \ubc29\ud5a5\uc131\uacfc \uc5f0\uc900\uc758 \uc815\ucc45 \uacbd\ub85c\ub97c \uacb0\uc815\uc9d3\ub294 \ud575\uc2ec \ucd95\uc785\ub2c8\ub2e4.<\/p>\n<p><a id=\"post-9810-heading_0\"><\/a><strong>\uc778\ud50c\ub808\uc774\uc158 \uacbd\uc9c1\uc131\uc740 \uc7a5\uae30 \ubd80\ucc44\uc5d0 \ub300\ud55c \uc555\ub825\uc758 \uadfc\ubcf8 \uc6d0\uc778\uc774\uba70, \uc7ac\uc815 \uac1c\uc785\uc758 \uadfc\ubcf8\uc801\uc778 \uc720\uc778\uc774\uae30\ub3c4 \ud558\ub2e4.<\/strong><\/p>\n<p>ACE Markets \ub9ac\uc11c\uce58 \ud300\uc740 \ub2e4\uac00\uc624\ub294 7\uc6d4 PCE \ubb3c\uac00 \uc9c0\uc218\uac00 \ub2e8\uc21c\ud55c \uc778\ud50c\ub808\uc774\uc158 \uc218\uce58\uc5d0 \uadf8\uce58\uc9c0 \uc54a\uace0, \uc7a5\uae30 \uad6d\ucc44 \uc218\uc775\ub960\uc758 \uc911\uc2ec \uc218\uc900\uc744 \uc9c1\uc811\uc801\uc73c\ub85c \uacb0\uc815\ud558\uba70 \uc7ac\ubb34\ubd80\uc758 \ucd5c\uadfc \ucc44\uad8c \uc2dc\uc7a5 \uac1c\uc785\uc758 \ubc30\uacbd\uc774 \ub418\ub294 \ub9e5\ub77d\uc744 \ud615\uc131\ud55c\ub2e4\uace0 \ud310\ub2e8\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ud604\uc7ac \uc2dc\uc7a5 \ucee8\uc13c\uc11c\uc2a4\ub294 7\uc6d4 \uc804\uccb4 PCE\uac00 \uc804\uc6d4 \ub300\ube44 \uc18c\ud3ed \ubc18\ub4f1\ud558\uace0 \uc804\ub144 \ub3d9\uae30 \ub300\ube44\ub85c\ub294 \uc18c\ud3ed \ud558\ub77d\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ud558\uace0 \uc788\uc73c\uba70, \uadfc\uc6d0 PCE\ub294 \uc804\ub144 \ub3d9\uae30 \ub300\ube44 3.3%\ub97c \uc720\uc9c0\ud560 \uac00\ub2a5\uc131\uc774 \ub192\uc740 \ud55c\ud3b8, \uc804\uc6d4 \ub300\ube44 \uc99d\uac00\uc728\uc740 6\uc6d4\ubcf4\ub2e4 \ub192\uc744 \uac83\uc73c\ub85c \uc804\ub9dd\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" width=\"1016\" height=\"517\" class=\"wp-image-9812\" src=\"https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260825_171119.png\" alt=\"\ubd80\ubd84\ucea1\ucc98_20260825_171119\" srcset=\"https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260825_171119.png 1016w, https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260825_171119-300x153.png 300w, https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260825_171119-768x391.png 768w, https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260825_171119-18x9.png 18w, https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260825_171119-900x458.png 900w, https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260825_171119-600x305.png 600w\" sizes=\"(max-width: 1016px) 100vw, 1016px\" \/><\/p>\n<p>\ub354\uc6b1 \uc8fc\ubaa9\ud560 \ub9cc\ud55c \uc810\uc740 \ubbf8\uad6d \uadfc\uc6d0 PCE \uc804\ub144 \ub300\ube44 \uc131\uc7a5\ub960\uc774 65\uac1c\uc6d4 \uc5f0\uc18d \uc5f0\uc900\uc758 2% \uc7a5\uae30 \ubaa9\ud45c\uce58\ub97c \uc0c1\ud68c\ud574 \uc654\uc73c\uba70, \uc778\ud50c\ub808\uc774\uc158 \ud558\ub77d\uc138\uc758 \uae30\uc6b8\uae30\uac00 \uc2dc\uc7a5\uc758 \ucd08\uae30 \uae30\ub300\ubcf4\ub2e4 \ud6e8\uc52c \uc644\ub9cc\ud558\ub2e4\ub294 \uac83\uc774\ub2e4. \ubcf8 \ubd84\uc11d\uc740 \uadfc\uc6d0 \uc778\ud50c\ub808\uc774\uc158\uc744 \uc9c0\uc18d\uc801\uc73c\ub85c \ub4b7\ubc1b\uce68\ud558\ub294 \uc138 \uac00\uc9c0 \ub0b4\uc7ac\uc801 \uc694\uc778, \uc989 \ub9ce\uc740 \ud53c\uc0c1\uc801 \ubd84\uc11d\uc774 \ucda9\ubd84\ud788 \ubc18\uc601\ud558\uc9c0 \ubabb\ud55c \uc7a5\uae30 \ubcc0\uc218\ub4e4\uc744 \uc81c\uc2dc\ud55c\ub2e4:<\/p>\n<ul>\n<li>AI \uc0b0\uc5c5\uc758 \ud655\uc7a5\uc73c\ub85c \ucef4\ud4e8\ud130 \ud558\ub4dc\uc6e8\uc5b4\uc640 \uc18c\ud504\ud2b8\uc6e8\uc5b4, \ub370\uc774\ud130\uc13c\ud130 \ube44\uc6a9\uc774 \uc0c1\uc2b9\ud558\uace0 \uc788\uc73c\uba70, \uc774\ub7ec\ud55c \ube44\uc6a9\uc774 \uc810\ucc28 \uc778\ud50c\ub808\uc774\uc158 \ubc14\uc2a4\ucf13\uc5d0 \ubc18\uc601\ub418\uace0 \uc788\ub2e4.<\/li>\n<li>\uae08\uc735\uc790\uc0b0 \uac00\uce58 \uc0c1\uc2b9\uc774 \ud3ec\ud2b8\ud3f4\ub9ac\uc624 \uc6b4\uc6a9 \uc11c\ube44\uc2a4 \uc218\uc218\ub8cc\ub97c \ub04c\uc5b4\uc62c\ub838\uc73c\uba70, \uc774\ub294 \uc11c\ube44\uc2a4 \uc778\ud50c\ub808\uc774\uc158\uc5d0 \uc9c1\uc811 \ubc18\uc601\ub418\uc5b4 \uadfc\uc6d0 PCE\uc758 \uc548\uc815\uc801\uc778 \uae30\uc5ec \uc694\uc778\uc73c\ub85c \uc790\ub9ac \uc7a1\uc558\ub2e4.<\/li>\n<li>\uc911\ub3d9\uc758 \uc9c0\uc815\ud559\uc801 \uac08\ub4f1\uc740 \uc5d0\ub108\uc9c0 \uac00\uaca9\uc5d0 \uaf2c\ub9ac \uc704\ud5d8\uc744 \ucd08\ub798\ud55c\ub2e4. \uc5d0\ub108\uc9c0 \ud504\ub9ac\ubbf8\uc5c4\uc774 \ud558\ub958 \uc0b0\uc5c5\uc73c\ub85c \uc804\uac00\ub418\uba74 \uc778\ud50c\ub808\uc774\uc158 \ub454\ud654 \uacfc\uc815\uc774 \uc9c1\uc811\uc801\uc73c\ub85c \uc911\ub2e8\ub420 \uac83\uc774\ub2e4.<\/li>\n<\/ul>\n<p>\uc774\ub294 \uc7a5\uae30 \ubbf8\uad6d \uad6d\ucc44 \uc218\uc775\ub960\uc774 \ud558\ub77d \ubaa8\uba58\ud140\uc744 \ud655\ubcf4\ud558\uc9c0 \ubabb\ud55c \ucc44 \uacc4\uc18d\ud574\uc11c \ub2e4\ub144\ub798 \ucd5c\uace0\uce58\ub97c \uacbd\uc2e0\ud558\ub294 \uc774\uc720\ub97c \uc815\ud655\ud788 \uc124\uba85\ud574 \uc90d\ub2c8\ub2e4. \uc2dc\uc7a5\uc774 \uc7a5\uae30 \uc778\ud50c\ub808\uc774\uc158 \ud504\ub9ac\ubbf8\uc5c4\uc744 \uac00\uaca9\uc5d0 \ubc18\uc601\ud558\uace0 \uc788\uae30 \ub54c\ubb38\uc785\ub2c8\ub2e4. \ud55c\ud3b8, \uc9c0\uc18d\uc801\uc73c\ub85c \ub192\uc740 \uc870\ub2ec\ube44\uc6a9\uc740 \ubbf8\uad6d \uc7ac\uc815\uc758 \uc774\uc790 \ubd80\ub2f4\uc744 \uac00\uc911\uc2dc\ud0a4\uace0 \uc788\uc73c\uba70, \uc774\ubc88 \ud68c\uacc4\uc5f0\ub3c4 \ubbf8\uad6d \uacf5\uacf5\ubd80\ucc44 \uc774\uc790 \uc9c0\uae09\uc561\uc740 1\uc870 1700\uc5b5 \ub2ec\ub7ec\uc5d0 \ub2ec\ud574 \uc804\ub144 \ub3d9\uae30 \ub300\ube44 15% \uc99d\uac00\ud588\uc2b5\ub2c8\ub2e4. \uc774\ub7ec\ud55c \uc555\ubc15 \uc18d\uc5d0\uc11c \ubbf8\uad6d \uc7ac\ubb34\ubd80\ub294 \uad00\ub840\ub97c \uae68\uace0 \uc7a5\uae30 \uad6d\ucc44 \ud658\ub9e4 \uc791\uc5c5\uc744 \uc9c1\uc811 \uac1c\uc2dc\ud558\uc5ec \uc778\uc704\uc801\uc73c\ub85c \uc7a5\uae30 \uc218\uc775\ub960\uc744 \uc5b5\uc81c\ud558\ub824 \ud588\uc2b5\ub2c8\ub2e4. \uc778\ud50c\ub808\uc774\uc158 \uacbd\uc9c1\uc131\uacfc \uc7ac\uc815 \uac1c\uc785\u2014\uc804\uc790\ub294 \uc6d0\uc778\uc774\uace0 \ud6c4\uc790\ub294 \uacb0\uacfc\uc785\ub2c8\ub2e4\u2014\uc740 \uba85\ud655\ud55c \uc804\ud30c \uccb4\uc778\uc744 \ud615\uc131\ud569\ub2c8\ub2e4.<\/p>\n<p><a id=\"post-9810-heading_1\"><\/a><strong>\uc591\ubc29\ud5a5 \uc815\ucc45 \ubc1c\uc0b0: \uae08\ub9ac \uc778\uc0c1 \uc81c\uc57d\uacfc \uc7ac\uc815 \uc644\ud654 \uac04\uc758 \ub0b4\uc7ac\uc801 \uac08\ub4f1<\/strong><\/p>\n<p><strong><img decoding=\"async\" width=\"1023\" height=\"513\" class=\"wp-image-9813\" src=\"https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260826_144850.png\" alt=\"\ubd80\ubd84 \ucea1\ucc98_20260826_144850\" srcset=\"https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260826_144850.png 1023w, https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260826_144850-300x150.png 300w, https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260826_144850-768x385.png 768w, https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260826_144850-18x9.png 18w, https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260826_144850-900x451.png 900w, https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260826_144850-600x301.png 600w\" sizes=\"(max-width: 1023px) 100vw, 1023px\" \/><\/strong><\/p>\n<p>\uc778\ud50c\ub808\uc774\uc158 \ub370\uc774\ud130\uc640 \uc7ac\uc815 \uc815\ucc45\uc744 \uad50\ucc28 \uac80\uc99d\ud55c \uacb0\uacfc, ACE Markets\ub294 \uc5f0\ubc29\uc900\ube44\uc81c\ub3c4(Fed)\uac00 \uc804\ud615\uc801\uc778 \uc591\ubc29\ud5a5 \uc555\ubc15\uc5d0 \uc9c1\uba74\ud574 \uc788\uc74c\uc744 \ubc1c\uacac\ud588\uc2b5\ub2c8\ub2e4. \uc778\ud50c\ub808\uc774\uc158 \uc555\ub825\uc740 \ud1b5\ud654 \uc815\ucc45\uc744 \uae34\ucd95\uc801\uc73c\ub85c \uc720\uc9c0\ud558\uac70\ub098 \uc2ec\uc9c0\uc5b4 \uae08\ub9ac \uc778\uc0c1 \uc635\uc158\uc744 \ubcf4\uc720\ud560 \uac83\uc744 \uc694\uad6c\ud558\ub294 \ubc18\uba74, \uc7ac\uc815 \ub2f9\uad6d\uc758 \ucc44\uad8c \uc2dc\uc7a5 \uac1c\uc785\uc740 \uac04\uc811\uc801\uc73c\ub85c \uc644\ud654\uc801 \uc2e0\ud638\ub97c \ubcf4\ub0b4\uace0 \uc788\uc5b4, \ub450 \uac70\uc2dc\uacbd\uc81c \uad00\ub9ac \ubd80\uc11c\uc758 \uc815\ucc45 \ubc29\ud5a5\uc5d0 \uba85\ud655\ud55c \uad34\ub9ac\uac00 \ubc1c\uc0dd\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>\uc778\ud50c\ub808\uc774\uc158 \uad00\uc810\uc5d0\uc11c \ubcf4\uba74, \uc2dc\uc7a5\uc758 \uae30\uc900 \uc804\ub9dd\uc740 8\uc6d4 CPI\uc640 \ube44\ub18d\uc5c5 \uace0\uc6a9 \ub370\uc774\ud130\uc758 \ucd94\uac00 \ud655\uc778\uc744 \uae30\ub2e4\ub9ac\uba70 \uc5f0\uc900\uc774 9\uc6d4\uc5d0 \uae08\ub9ac\ub97c \ub3d9\uacb0\ud560 \uac83\uc774\ub77c\ub294 \ucabd\uc774\uc9c0\ub9cc, \uae08\ub9ac \uc778\uc0c1\uc758 \uc704\ud5d8\uc740 \uacb0\ucf54 \uc644\uc804\ud788 \uc81c\uac70\ub41c \uc801\uc774 \uc5c6\ub2e4. \ud604\uc7ac \uc2dc\uc7a5\uc740 9\uc6d4 25bp(\ubca0\uc774\uc2dc\uc2a4 \ud3ec\uc778\ud2b8) \uae08\ub9ac \uc778\uc0c1 \ud655\ub960\uc744 40%\ub85c \ubc18\uc601\ud558\uace0 \uc788\uc73c\uba70, 12\uc6d4 \uae08\ub9ac \uc778\uc0c1\uc5d0 \ubca0\ud305\ud558\ub294 \ube44\uc728\uc740 \ub354 \ub192\ub2e4. PCE \ub370\uc774\ud130\uac00 \uc608\uc0c1\uc744 \uc0c1\ud68c\ud558\uace0 \ud1b5\uacc4\uc801 \uc774\uc0c1\uce58\uac00 \ubc30\uc81c\ub41c\ub2e4\uba74, \uc5f0\uc900\uc758 \uae08\ub9ac \uc778\uc0c1 \ucc3d\uad6c\ub294 \ub2e4\uc2dc \uc5f4\ub9b4 \uac83\uc774\ub2e4. 7\uc6d4 FOMC \ud68c\uc758\ub85d\ub3c4 \uc778\ud50c\ub808\uc774\uc158\uc774 \uacc4\uc18d \ub192\uc744 \uacbd\uc6b0 \ucd94\uac00 \uae08\ub9ac \uc778\uc0c1\uc774 \uc5ec\uc804\ud788 \uc635\uc158\uc73c\ub85c \ub0a8\uc544 \uc788\uc74c\uc744 \ubd84\uba85\ud788 \uc2dc\uc0ac\ud588\ub2e4.<\/p>\n<p>\uadf8\ub7ec\ub098 \uc7ac\uc815 \uc870\uce58\ub4e4\uc774 \ud1b5\ud654 \uc815\ucc45\uc758 \uae34\ucd95 \ud6a8\uacfc\ub97c \uc0c1\uc1c4\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uc7ac\ubb34\ubd80\uc758 \uc7a5\uae30 \uad6d\ucc44 \ud658\ub9e4 \uc791\uc5c5\uc740 \ud45c\uba74\uc801\uc73c\ub85c\ub294 \"\uc720\ub3d9\uc131 \uad00\ub9ac\"\ub97c \uc704\ud55c \uac83\uc774\uc9c0\ub9cc, \ubcf8\uc9c8\uc801\uc73c\ub85c \uc7a5\uae30 \uae08\ub9ac\ub97c \ub0ae\ucd94\uace0 \uc2dc\uc7a5\uc5d0 \uc644\ud654 \ubaa8\uba58\ud140\uc744 \uc8fc\uc785\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uc774\ub294 \uc8fc\ud0dd\ub2f4\ubcf4\ub300\ucd9c\uacfc \uac19\uc740 \uc2e4\ubb3c\uacbd\uc81c \uc790\uae08 \uc870\ub2ec \ube44\uc6a9\uc744 \uc131\uacf5\uc801\uc73c\ub85c \ub0ae\ucd94\uac8c \ub418\uba74 \uacbd\uc81c\ub97c \uc790\uadf9\ud558\uace0 \uc778\ud50c\ub808\uc774\uc158 \ub454\ud654 \uc18d\ub3c4\ub97c \uc9c1\uc811\uc801\uc73c\ub85c \ub2a6\ucd9c \uac83\uc785\ub2c8\ub2e4. \uc774\ub294 \ub610\ud55c 2% \uc778\ud50c\ub808\uc774\uc158 \ubaa9\ud45c\ub97c \ub2ec\uc131\ud558\uae30 \uc704\ud574 \uc5f0\ubc29\uc900\ube44\uc81c\ub3c4(Fed)\uac00 \ub354 \uc624\ub79c \uae30\uac04 \ub192\uc740 \uae08\ub9ac\ub97c \uc720\uc9c0\ud574\uc57c \ud558\uac70\ub098, \uc7ac\uc815 \uc644\ud654\uc758 \uc601\ud5a5\uc744 \uc0c1\uc1c4\ud558\uae30 \uc704\ud574 \ub354 \uacf5\uaca9\uc801\uc778 \uae08\ub9ac \uc778\uc0c1\uc744 \ub2e8\ud589\ud574\uc57c \ud560 \uc218\ub3c4 \uc788\uc74c\uc744 \uc758\ubbf8\ud569\ub2c8\ub2e4.<\/p>\n<p><img decoding=\"async\" width=\"1030\" height=\"520\" class=\"wp-image-9814\" src=\"https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260826_144511.png\" alt=\"\ubd80\ubd84 \ucea1\ucc98_20260826_144511\" srcset=\"https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260826_144511.png 1030w, https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260826_144511-300x151.png 300w, https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260826_144511-1024x517.png 1024w, https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260826_144511-768x388.png 768w, https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260826_144511-18x9.png 18w, https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260826_144511-900x454.png 900w, https:\/\/www.mdwcc.com\/wp-content\/uploads\/2026\/08\/20260826_144511-600x303.png 600w\" sizes=\"(max-width: 1030px) 100vw, 1030px\" \/><\/p>\n<p>\uc774\ub7ec\ud55c \uc815\ucc45 \ubd84\uae30\uc5d0\uc11c \ube44\ub86f\ub41c \ubd88\ud655\uc2e4\uc131\uc774 \uc2dc\uc7a5 \ubcc0\ub3d9\uc131\uc744 \uc99d\ud3ed\uc2dc\ud0a4\uace0 \uc788\ub2e4. \uc6cc\uc2dc(Warsh)\uc758 \uc9c0\ub3c4 \uc544\ub798 \uc5f0\ubc29\uc900\ube44\uc81c\ub3c4(Fed)\ub294 \uc774\ubbf8 \uc804\ud1b5\uc801\uc778 \uc0ac\uc804 \uc548\ub0b4(\ud3ec\uc6cc\ub4dc \uac00\uc774\ub358\uc2a4)\ub97c \ud3d0\uae30\ud558\uace0, \"\uc815\ucc45\uc740 \ub370\uc774\ud130\uc640 \uc2dc\uc7a5 \uac00\uaca9\uc5d0 \uc758\ud574 \uacb0\uc815\ub418\uc5b4\uc57c \ud55c\ub2e4\"\uace0 \uac15\uc870\ud574 \uc654\ub2e4. \uc774\uc81c \uc7ac\ubb34\ubd80\uac00 \"\uc2dc\uc7a5 \uac00\uaca9 \uacb0\uc815\uc740 \uacb0\ud568\uc774 \uc788\ub2e4\"\uace0 \uacf5\uac1c\uc801\uc73c\ub85c \uc120\uc5b8\ud558\uace0 \uac00\uaca9 \ud615\uc131\uc5d0 \uc9c1\uc811 \uac1c\uc785\ud568\uc73c\ub85c\uc368, \uacf5\uc2dd \uc2e0\ub8b0\uc131\uc744 \ud6fc\uc190\ud560 \ubfd0\ub9cc \uc544\ub2c8\ub77c \uc5f0\uc900\uc758 \uc815\ucc45 \ucee4\ubba4\ub2c8\ucf00\uc774\uc158 \uccb4\uacc4\ub97c \ub09c\ucc98\ud558\uac8c \ub9cc\ub4e4\uace0 \uc788\ub2e4. \uc2dc\uc7a5\uc740 \ub354 \uc774\uc0c1 \uc778\ud50c\ub808\uc774\uc158 \ub370\uc774\ud130\ub9cc\uc73c\ub85c \uc815\ucc45 \ubc29\ud5a5\uc744 \ud310\ub2e8\ud560 \uc218 \uc5c6\uac8c \ub418\uc5c8\uc73c\uba70, \uc774\uc81c \uc7ac\uc815 \uac1c\uc785\uc774\ub77c\ub294 \ubcc0\uc218\ub97c \ud3ec\ud568\ud574 2\ucc28 \ubcf4\uc815\uc744 \ud574\uc57c \ud55c\ub2e4. \ubc14\ub85c \uc774 \uc9c0\uc810\uc774 \uc77c\ubc18 \ud2b8\ub808\uc774\ub354\ub4e4\uc774 \uac00\uc7a5 \uc624\ud310\ud558\uae30 \uc26c\uc6b4 \ubd80\ubd84\uc774\ub2e4.<\/p>\n<p><a id=\"post-9810-heading_2\"><\/a><strong>\ub450 \uac00\uc9c0 \ud575\uc2ec \uc774\uc815\ud45c: \uc7ad\uc2a8\ud640 \uacbd\uc81c \uc2ec\ud3ec\uc9c0\uc5c4 \ubc0f PCE \ud1b5\uacc4 \uc218\uc815\uc758 \uad50\ucc28 \uac80\uc99d.<\/strong><\/p>\n<p>ACE Markets\uc758 \ubd84\uc11d \ud504\ub808\uc784\uc6cc\ud06c \ub0b4\uc5d0\uc11c, \ub450 \uac00\uc9c0 \uc8fc\uc694 \uc774\ubca4\ud2b8\uac00 \uc55e\uc11c \uc5b8\uae09\ub41c \ub09c\uad6d\uc758 \uc804\uac1c\ub97c \uacf5\ub3d9\uc73c\ub85c \uac80\uc99d\ud560 \uac83\uc785\ub2c8\ub2e4. \uc774 \ub450 \uac00\uc9c0 \uc774\ubca4\ud2b8\ub294 \ub3c5\ub9bd\uc801\uc774\uc9c0 \uc54a\uc73c\uba70, \uc11c\ub85c \uc601\ud5a5\uc744 \ubbf8\uce58\uace0 \uc0c1\ud638 \uac15\ud654\ud560 \uac83\uc785\ub2c8\ub2e4.<\/p>\n<p>\uccab \ubc88\uc9f8 \uc8fc\uc694 \uc774\ubca4\ud2b8\ub294 \ub2e4\uac00\uc624\ub294 \uc7ad\uc2a8\ud640 \uacbd\uc81c \uc2ec\ud3ec\uc9c0\uc5c4\uc785\ub2c8\ub2e4. \uc2dc\uc7a5\uc740 \uc778\ud50c\ub808\uc774\uc158\uacfc \uae08\ub9ac \uc778\uc0c1 \uacbd\ub85c\uc5d0 \ub300\ud55c \uc6cc\uc2dc\uc758 \ubc1c\uc5b8\uc5d0 \uad11\ubc94\uc704\ud558\uac8c \uc8fc\ubaa9\ud558\uace0 \uc788\uc9c0\ub9cc, \ub354 \uae4a\uc740 \uad00\uc2ec\uc740 \uc7ac\ubb34\ubd80\uc758 \ucc44\uad8c \uc2dc\uc7a5 \uac1c\uc785\uc5d0 \ub300\ud55c \uadf8\uc758 \ub300\uc751\uc5d0 \uc788\uc2b5\ub2c8\ub2e4\u2014\uadf8\uac00 \ud1b5\ud654\uc815\ucc45 \ub3c5\ub9bd\uc131\uc744 \uacac\uc9c0\ud560\uc9c0, \uc7ac\uc815 \uac1c\uc785\uc774 \uc2dc\uc7a5 \uac00\uaca9 \ud615\uc131\uc744 \uad50\ub780\ud55c\ub2e4\uace0 \ube44\ud310\ud560\uc9c0, \uc544\ub2c8\uba74 \ud589\uc815\ubd80\uc758 \uc694\uad6c\uc5d0 \ud0c0\ud611\ud558\uc5ec \uc7ac\uc815 \ud328\uad8c\uc744 \uc554\ubb35\uc801\uc73c\ub85c \uc6a9\uc778\ud560\uc9c0\ub294 \uc7a5\uae30 \uad6d\ucc44 \uc218\uc775\ub960\uc758 \ud5a5\ud6c4 \ucd94\uc138\ub97c \uc9c1\uc811 \uacb0\uc815\ud560 \uac83\uc785\ub2c8\ub2e4. \uc774\ub294 \ub610\ud55c \uc2dc\uc7a5\uc758 \ud575\uc2ec \uc6b0\ub824\ub97c \uac80\uc99d\ud560 \uac83\uc785\ub2c8\ub2e4: \uc5f0\ubc29\uc900\ube44\uc81c\ub3c4\uc758 \uc778\ud50c\ub808\uc774\uc158 \uc5b5\uc81c \uae30\uc870\uac00 \ubd80\ucc44 \uad00\ub9ac \uc555\ub825\uc73c\ub85c \uc778\ud574 \uc57d\ud654\ub420\uc9c0 \uc5ec\ubd80\uc785\ub2c8\ub2e4.<\/p>\n<p>\ub450 \ubc88\uc9f8 \ud575\uc2ec \uc774\uc815\ud45c\ub294 9\uc6d4 \ub9d0\ubd80\ud130 \uc2dc\ud589\ub41c PCE \ud1b5\uacc4 \ubc29\ubc95\ub860\uc758 \uc804\uba74 \uac1c\ud3b8\uc774\ub2e4. \ubbf8\uad6d \uacbd\uc81c\ubd84\uc11d\uad6d\uc740 \ucef4\ud4e8\ud130 \ud558\ub4dc\uc6e8\uc5b4, \uc790\uc0b0 \uc6b4\uc6a9, \ubc95\ub960 \uc11c\ube44\uc2a4 \ub4f1 \ud488\ubaa9\uc758 \uac00\uaca9 \uc0b0\uc815 \ubc29\uc2dd\uc744 \uc7ac\uc870\uc815\ud558\uace0, \uacfc\uac70 \ub370\uc774\ud130\ub97c \uc18c\uae09 \uc218\uc815\ud560 \uc608\uc815\uc774\ub2e4. \uc8fc\ubaa9\ud560 \uc810\uc740 \uc774\ubc88 \uc870\uc815\uc758 \uc601\ud5a5\uc744 \ubc1b\ub294 \ud575\uc2ec \ud488\ubaa9\ub4e4\uc774 \ubc14\ub85c \ud604\uc7ac \uadfc\uc6d0 \uc778\ud50c\ub808\uc774\uc158\uc744 \uc9c0\uc9c0\ud558\ub294 \uc8fc\uc694 \ubcc0\uc218\ub77c\ub294 \uac83\uc774\ub2e4. \ub9cc\uc57d \uc218\uc815\ub41c \uc778\ud50c\ub808\uc774\uc158 \uc218\uce58\uac00 \ud604\uc7ac \uc218\uc900\ubcf4\ub2e4 \ub192\uac8c \ub098\uc628\ub2e4\uba74, \uae08\ub9ac \uc778\uc0c1 \uae30\ub300\ub97c \uc9c1\uc811\uc801\uc73c\ub85c \uac15\ud654\ud558\uace0 \uc7a5\uae30 \uad6d\ucc44 \uc218\uc775\ub960\uc744 \ub04c\uc5b4\uc62c\ub9b4 \ubfd0\ub9cc \uc544\ub2c8\ub77c, \uc7ac\ubb34\ubd80\uc758 \uc2dc\uc7a5 \uac1c\uc785 \ud589\ub3d9\uc744 \ub354\uc6b1 \uc218\ub3d9\uc801\uc73c\ub85c \ub9cc\ub4e4\uace0, \uc624\ud788\ub824 \uac1c\uc785 \uac15\ub3c4\ub97c \ub192\uc5ec\uc57c \ud560 \uc218\ub3c4 \uc788\uc73c\uba70, \uc815\ucc45 \uc774\uc6d0\ud654\uc758 \ubaa8\uc21c\uc744 \ub354\uc6b1 \uc545\ud654\uc2dc\ud0ac \uc218 \uc788\ub2e4.<\/p>\n<p>\uc989, \ud1b5\uacc4 \uac1c\ud601\uc740 \ub2e8\uc21c\ud55c \uae30\uc220\uc801 \uc870\uc815\uc5d0 \uadf8\uce58\uc9c0 \uc54a\uc2b5\ub2c8\ub2e4. \uc774\ub294 \"\uc778\ud50c\ub808\uc774\uc158 \uc9c0\ud45c \u2192 \uc815\ucc45 \uae30\ub300 \u2192 \uae08\ub9ac \uc218\uc900 \u2192 \uc7ac\uc815 \uac1c\uc785\"\uc73c\ub85c \uc774\uc5b4\uc9c0\ub294 \uc5f0\uc1c4 \ubc18\uc751\uc744 \uc77c\uc73c\ud0ac \uac83\uc774\uba70, \uadf8 \uc601\ud5a5\uc740 \uae08\ub9ac \uc2dc\uc7a5 \uc804\uccb4\ub85c \ud655\uc0b0\ub420 \uac83\uc785\ub2c8\ub2e4.<\/p>\n<p><a id=\"post-9810-heading_3\"><\/a><strong>ACE \ub9c8\ucf13 \uc694\uc57d \ubc0f \ud2b8\ub808\uc774\ub529 \uc778\uc0ac\uc774\ud2b8<\/strong><\/p>\n<p>\uc694\uc57d\ud558\uba74, \uc2dc\uc7a5\uc740 \ud604\uc7ac &#8220;\uace0\ucc29\uc131 \uc778\ud50c\ub808\uc774\uc158 \u2192 \uc218\uc775\ub960 \uc0c1\uc2b9 \u2192 \uc7ac\uc815 \uac1c\uc785 \u2192 \uc778\ud50c\ub808\uc774\uc158 \ud558\ub77d \ub454\ud654 \u2192 \uc218\uc775\ub960 \uc7a5\uae30 \uc555\ub825&#8221;\uc774\ub77c\ub294 \ubd80\uc815\uc801 \uc21c\ud658\uc5d0 \uc9c4\uc785\ud558\uace0 \uc788\ub2e4. PCE \ub370\uc774\ud130\ub97c \ub2e8\uc21c\ud788 \ud574\uc11d\ud558\uac70\ub098 \uc7ac\ubb34\ubd80\uc758 \uc870\uce58\ub97c \ub2e8\ub3c5\uc73c\ub85c \ud3c9\uac00\ud558\ub294 \uac83\ub9cc\uc73c\ub85c\ub294 \uc2dc\uc7a5\uc758 \uc804\uccb4\uc801\uc778 \uadf8\ub9bc\uc744 \ud3ec\ucc29\ud560 \uc218 \uc5c6\ub2e4. \ub9ce\uc740 \ud2b8\ub808\uc774\ub354\ub4e4\uc740 &#8220;\uc778\ud50c\ub808\uc774\uc158 \ub370\uc774\ud130 \u2192 \uc5f0\uc900 \uc815\ucc45&#8221;\uc774\ub77c\ub294 \uc120\ud615 \ub17c\ub9ac\ub85c \uc758\uc0ac\uacb0\uc815\uc744 \ud558\ub294 \ub370 \uc775\uc219\ud558\uc9c0\ub9cc, \uc7ac\uc815 \uc815\ucc45 \uc870\uce58\uc640 \ud1b5\uacc4 \uaddc\uce59 \ubcc0\uacbd\ucc98\ub7fc \uc11c\uc11c\ud788 \ubcc0\ud654\ud558\ub294 \ubcc0\uc218\ub4e4\uc774 \uc774\ub7ec\ud55c \ud575\uc2ec \ub17c\ub9ac\uc5d0 \ubbf8\uce58\ub294 \ubd80\uc815\uc801 \uc601\ud5a5\uc744 \uac04\uacfc\ud558\uace0 \uc788\ub2e4.<\/p>\n<p>ACE Markets\uc758 \ub2e4\ucc28\uc6d0\uc801\uc774\uace0 \uc0c1\ud638 \uc5f0\uacb0\ub41c \ubd84\uc11d \uc2dc\uc2a4\ud15c\uc740 \ub2e8\uc77c \uc774\ubca4\ud2b8\ub97c \uad00\ud1b5\ud558\uace0 \ubd80\uc11c\uc640 \uae30\uac04\uc5d0 \uac78\uce5c \ub17c\ub9ac\uc801 \uc0c1\ud638 \uac80\uc99d\uc744 \ud3ec\ucc29\ud558\uc5ec \ud2b8\ub808\uc774\ub354\uac00 \ub2e8\uc77c \ucc28\uc6d0 \ud310\ub2e8\uc73c\ub85c \uc778\ud55c \uc778\uc9c0 \ud3b8\ud5a5\uc744 \ud53c\ud558\ub3c4\ub85d \ub3d5\uc2b5\ub2c8\ub2e4. \ud5a5\ud6c4\uc5d0\ub294 \uc138 \uac00\uc9c0 \ud575\uc2ec \uc9c0\ud45c\uc758 \uad50\ucc28 \uac80\uc99d\uc744 \ucd94\uc801\ud558\ub294 \ub370 \ucd08\uc810\uc744 \ub9de\ucd94\ub294 \uac83\uc774 \uad8c\uc7a5\ub429\ub2c8\ub2e4. \uccab\uc9f8, \uadfc\uc6d0 PCE \ud558\uc704 \uc9c0\uc218\uc758 \uc2e4\uc81c \ucd94\uc138\uc640 \uc2dc\uc7a5 \uae30\ub300\uce58 \uac04\uc758 \ucc28\uc774, \ub458\uc9f8, \uc7ad\uc2a8\ud640 \uacbd\uc81c \uc2ec\ud3ec\uc9c0\uc5c4\uc5d0\uc11c \uc6cc\uc2dc\uc758 \uc7ac\uc815 \uac1c\uc785\uc5d0 \ub300\ud55c \ubc1c\uc5b8, \uc14b\uc9f8, 9\uc6d4 \ud1b5\uacc4 \uac1c\ud601\uc758 \uad6c\uccb4\uc801\uc778 \uc218\uc815 \uc0ac\ud56d\uc785\ub2c8\ub2e4. \uc774 \uc138 \uac00\uc9c0 \uc694\uc778\uc758 \ubcf5\ud569\uc801 \ud6a8\uacfc\uac00 4\ubd84\uae30 \ubbf8\uad6d \uad6d\ucc44 \uc218\uc775\ub960\uacfc \ubbf8\uad6d \ub2ec\ub7ec\uc758 \ubc29\ud5a5\uc744 \uacb0\uc815\ud558\ub294 \ud575\uc2ec \ub3d9\ub825\uc785\ub2c8\ub2e4.<\/p>\n<table>\n<tbody>\n<tr>\n<td>\uba74\ucc45\uc870\ud56d: \uc704 \ub0b4\uc6a9\uc740 ACE Markets \uc870\uc0ac\ud300\uc758 \uc2dc\uc7a5 \uacac\ud574\uc77c \ubfd0\uc774\uba70 \uc5b4\ub5a0\ud55c \ud22c\uc790 \uc870\uc5b8\ub3c4 \uad6c\uc131\ud558\uc9c0 \uc54a\uc2b5\ub2c8\ub2e4. \uc2dc\uc7a5 \uc704\ud5d8\uc774 \uc874\uc7ac\ud569\ub2c8\ub2e4. \uac70\ub798\ud558\uae30 \uc804\uc5d0 \uc790\uc2e0\uc758 \uc704\ud5d8 \ud5c8\uc6a9 \ubc94\uc704\ub97c \uc2e0\uc911\ud558\uac8c \ud3c9\uac00\ud558\uc2ed\uc2dc\uc624.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>","protected":false},"excerpt":{"rendered":"<p>\ubbf8\uad6d \uad6d\ucc44 \uc218\uc775\ub960\uc774 \uacc4\uc18d \uc0c1\uc2b9\ud558\ub294 \uc774\uc720\ub97c \uc54c\uc544\ubcf4\uc138\uc694. \uc778\ud50c\ub808\uc774\uc158 \uace0\ucc29\uc131, \uc7ac\uc815 \uac1c\uc785, \uc5f0\uc900 \uc815\ucc45 \ubc1c\uc0b0\uc774 \uae08\ub9ac \uc2dc\uc7a5\uc5d0\uc11c \uc790\uae30 \uac15\ud654 \uc21c\ud658\uc744 \ub9cc\ub4e4\uc5b4\ub0b4\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>","protected":false},"author":1,"featured_media":9811,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[115],"tags":[911,909,910],"class_list":["post-9810","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-news","tag-core-inflation","tag-fiscal-intervention","tag-pce-price-index"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/posts\/9810","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/comments?post=9810"}],"version-history":[{"count":1,"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/posts\/9810\/revisions"}],"predecessor-version":[{"id":9815,"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/posts\/9810\/revisions\/9815"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/media\/9811"}],"wp:attachment":[{"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/media?parent=9810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/categories?post=9810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mdwcc.com\/ko\/wp-json\/wp\/v2\/tags?post=9810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}