{"id":7692,"date":"2025-08-26T08:21:41","date_gmt":"2025-08-26T08:21:41","guid":{"rendered":"https:\/\/www.mdwcc.com\/?p=7692"},"modified":"2025-09-23T01:41:09","modified_gmt":"2025-09-23T01:41:09","slug":"powell-bets-on-interest-rate-cuts-to-stabilize-employment-and-the-august-non-farm-data-becomes-the-first-touchstone","status":"publish","type":"post","link":"https:\/\/www.mdwcc.com\/vi\/powell-bets-on-interest-rate-cuts-to-stabilize-employment-and-the-august-non-farm-data-becomes-the-first-touchstone\/","title":{"rendered":"Powell \u0111\u1eb7t c\u01b0\u1ee3c v\u00e0o vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t \u0111\u1ec3 \u1ed5n \u0111\u1ecbnh vi\u1ec7c l\u00e0m v\u00e0 d\u1eef li\u1ec7u phi n\u00f4ng nghi\u1ec7p th\u00e1ng 8 tr\u1edf th\u00e0nh \u201c\u0111i\u1ec3m chu\u1ea9n \u0111\u1ea7u ti\u00ean\u201d!"},"content":{"rendered":"

T\u1ea1i h\u1ed9i ngh\u1ecb chuy\u00ean \u0111\u1ec1 ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng to\u00e0n c\u1ea7u \u1edf Jackson Hole, Wyoming, th\u1ee9 S\u00e1u tu\u1ea7n tr\u01b0\u1edbc, Ch\u1ee7 t\u1ecbch C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang Powell \u0111\u00e3 ph\u00e1t t\u00edn hi\u1ec7u v\u1ec1 m\u1ed9t \u0111\u1ee3t c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t hi\u1ebfm hoi v\u00e0o th\u00e1ng 9, l\u1ea7n \u0111\u1ea7u ti\u00ean sau g\u1ea7n m\u1ed9t n\u0103m. L\u00fd do ch\u00ednh cho \u0111\u1ed9ng th\u00e1i n\u00e0y l\u00e0 s\u1ef1 bi\u1ebfn \u0111\u1ed9ng \u0111\u00e1ng k\u1ec3 tr\u00ean th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng Hoa K\u1ef3 v\u00e0 nhu c\u1ea7u c\u00e2n b\u1eb1ng r\u1ee7i ro l\u1ea1m ph\u00e1t. Vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t n\u00e0y \u0111\u01b0\u1ee3c coi l\u00e0 m\u1ed9t bi\u1ec7n ph\u00e1p ch\u00ednh s\u00e1ch nh\u1eb1m \"h\u1ed7 tr\u1ee3 th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng b\u1eb1ng l\u00e3i su\u1ea5t th\u1ea5p v\u00e0 ng\u0103n ch\u1eb7n l\u1ea1m ph\u00e1t phi m\u00e3\". D\u1eef li\u1ec7u b\u1ea3ng l\u01b0\u01a1ng phi n\u00f4ng nghi\u1ec7p th\u00e1ng 8 s\u1ebd \u0111\u00f3ng vai tr\u00f2 quan tr\u1ecdng trong vi\u1ec7c x\u00e1c \u0111\u1ecbnh li\u1ec7u \u0111\u1ee3t c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t th\u00e1ng 9 c\u00f3 th\u00e0nh hi\u1ec7n th\u1ef1c hay kh\u00f4ng v\u00e0 t\u1ed1c \u0111\u1ed9 thay \u0111\u1ed5i ch\u00ednh s\u00e1ch ti\u1ebfp theo.<\/p>\n

1. B\u1ed1i c\u1ea3nh c\u1ed1t l\u00f5i c\u1ee7a t\u00edn hi\u1ec7u c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t: M\u1ed1i lo ng\u1ea1i gia t\u0103ng v\u1ec1 th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng<\/h2>\n
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  1. D\u1eef li\u1ec7u quan tr\u1ecdng \u0111\u00e3 k\u00edch ho\u1ea1t s\u1ef1 thay \u0111\u1ed5i<\/strong>: B\u00e1o c\u00e1o b\u1ea3ng l\u01b0\u01a1ng phi n\u00f4ng nghi\u1ec7p c\u1ee7a Hoa K\u1ef3 th\u00e1ng 7 \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh gi\u1ea3m \u0111\u00e1ng k\u1ec3, v\u1edbi m\u1ee9c t\u0103ng tr\u01b0\u1edfng vi\u1ec7c l\u00e0m y\u1ebfu h\u01a1n d\u1ef1 ki\u1ebfn \u200b\u200btrong th\u00e1ng 5 v\u00e0 th\u00e1ng 6. Sau khi \u0111i\u1ec1u ch\u1ec9nh, n\u1ec1n kinh t\u1ebf Hoa K\u1ef3 ch\u1ec9 t\u1ea1o th\u00eam 35.000 vi\u1ec7c l\u00e0m m\u1ed7i th\u00e1ng k\u1ec3 t\u1eeb th\u00e1ng 6, th\u1ea5p h\u01a1n nhi\u1ec1u so v\u1edbi m\u1ee9c trung b\u00ecnh 168.000 vi\u1ec7c l\u00e0m h\u00e0ng th\u00e1ng d\u1ef1 ki\u1ebfn \u200b\u200bv\u00e0o n\u0103m 2024. D\u1eef li\u1ec7u n\u00e0y \u0111\u00e3 g\u00e2y ch\u1ea5n \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng, th\u1eadm ch\u00ed d\u1eabn \u0111\u1ebfn vi\u1ec7c Trump sa th\u1ea3i gi\u00e1m \u0111\u1ed1c th\u1ed1ng k\u00ea c\u1ee7a B\u1ed9 Lao \u0111\u1ed9ng v\u00e0 tr\u1edf th\u00e0nh b\u01b0\u1edbc ngo\u1eb7t quan tr\u1ecdng \u0111\u1ed1i v\u1edbi Powell, ng\u01b0\u1eddi \u0111\u00e3 m\u1edf \u0111\u01b0\u1eddng cho vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t.<\/li>\n<\/ol>\n

    \"h\u00ecnh<\/p>\n

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    1. Th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng \u0111ang suy gi\u1ea3m \u1edf nhi\u1ec1u kh\u00eda c\u1ea1nh <\/strong>:\n
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      • Tuy\u1ec3n d\u1ee5ng doanh nghi\u1ec7p \u0111ang gi\u1ea3m<\/strong>: S\u1ed1 l\u01b0\u1ee3ng vi\u1ec7c l\u00e0m m\u1edbi trung b\u00ecnh h\u00e0ng th\u00e1ng m\u00e0 c\u00e1c nh\u00e0 tuy\u1ec3n d\u1ee5ng Hoa K\u1ef3 t\u1ea1o ra v\u00e0o n\u0103m 2025 s\u1ebd th\u1ea5p h\u01a1n \u0111\u00e1ng k\u1ec3 so v\u1edbi giai \u0111o\u1ea1n ph\u1ee5c h\u1ed3i kinh t\u1ebf sau \u0111\u1ea1i d\u1ecbch. Do t\u00e1c \u0111\u1ed9ng c\u1ee7a ch\u00ednh s\u00e1ch thu\u1ebf quan, vi\u1ec7c \u1ee9ng d\u1ee5ng tr\u00ed tu\u1ec7 nh\u00e2n t\u1ea1o v\u00e0 b\u1ea5t \u1ed5n kinh t\u1ebf, c\u00e1c c\u00f4ng ty nh\u00ecn chung \u0111\u00e3 ho\u00e3n tuy\u1ec3n d\u1ee5ng. M\u1ed9t s\u1ed1 c\u00f4ng ty c\u0169ng ti\u1ebft l\u1ed9 r\u1eb1ng h\u1ecd c\u00f3 th\u1ec3 s\u1ebd sa th\u1ea3i nh\u00e2n vi\u00ean trong t\u01b0\u01a1ng lai. Andy Challenger c\u1ee7a c\u00f4ng ty thu\u00ea ngo\u00e0i \u0111i\u1ec1u h\u00e0nh Challenger, Gray & Christmas \u0111\u00e3 th\u1eb3ng th\u1eafn tuy\u00ean b\u1ed1 r\u1eb1ng \"th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng th\u1ef1c s\u1ef1 \u0111ang h\u1ea1 nhi\u1ec7t, v\u00e0 c\u00f3 nhi\u1ec1u l\u00fd do \u0111\u1ec3 bi quan h\u01a1n l\u00e0 l\u1ea1c quan.\"<\/li>\n
      • S\u1ed1 l\u01b0\u1ee3ng ng\u01b0\u1eddi t\u00ecm vi\u1ec7c d\u00e0i h\u1ea1n t\u0103ng \u0111\u1ed9t bi\u1ebfn<\/strong>: V\u00e0o th\u00e1ng 7, c\u00f3 kho\u1ea3ng 1,8 tri\u1ec7u ng\u01b0\u1eddi th\u1ea5t nghi\u1ec7p d\u00e0i h\u1ea1n \u0111\u00e3 t\u00ecm vi\u1ec7c trong h\u01a1n 27 tu\u1ea7n, t\u0103ng 64% so v\u1edbi ba n\u0103m tr\u01b0\u1edbc v\u00e0 20% so v\u1edbi m\u1ed9t n\u0103m tr\u01b0\u1edbc. Do d\u1ef1 \u0111o\u00e1n v\u1ec1 vi\u1ec7c c\u00e1c c\u00f4ng ty s\u1ebd sa th\u1ea3i nh\u00e2n vi\u00ean, kh\u00f3 kh\u0103n trong vi\u1ec7c t\u00ecm vi\u1ec7c kh\u00f3 c\u00f3 th\u1ec3 gi\u1ea3m b\u1edbt trong ng\u1eafn h\u1ea1n.<\/li>\n
      • Gi\u1edbi tr\u1ebb ng\u00e0y c\u00e0ng g\u1eb7p kh\u00f3 kh\u0103n trong vi\u1ec7c t\u00ecm vi\u1ec7c: Nh\u1eefng ng\u01b0\u1eddi m\u1edbi gia nh\u1eadp th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng, ch\u1eb3ng h\u1ea1n nh\u01b0 sinh vi\u00ean m\u1edbi t\u1ed1t nghi\u1ec7p (ch\u1ee7 y\u1ebfu l\u00e0 sinh vi\u00ean \u0111\u1ea1i h\u1ecdc v\u00e0 trung h\u1ecdc ph\u1ed5 th\u00f4ng), \u0111ang ng\u00e0y c\u00e0ng g\u1eb7p kh\u00f3 kh\u0103n trong vi\u1ec7c t\u00ecm ki\u1ebfm c\u00f4ng vi\u1ec7c \u0111\u1ea7u ti\u00ean. V\u00e0o th\u00e1ng 7, t\u1ef7 l\u1ec7 ng\u01b0\u1eddi m\u1edbi tham gia th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng trong t\u1ed5ng s\u1ed1 ng\u01b0\u1eddi th\u1ea5t nghi\u1ec7p \u0111\u00e3 t\u0103ng t\u1eeb 1\/12 v\u00e0o n\u0103m 2022 l\u00ean 1\/7. \u0110i\u1ec1u n\u00e0y l\u00e0 do c\u00e1c y\u1ebfu t\u1ed1 nh\u01b0 suy tho\u00e1i kinh t\u1ebf v\u00e0 vi\u1ec7c tr\u00ed tu\u1ec7 nh\u00e2n t\u1ea1o thay th\u1ebf c\u00e1c c\u00f4ng vi\u1ec7c c\u1ea5p \u0111\u1ed9 \u0111\u1ea7u v\u00e0o. Chuy\u00ean gia t\u01b0 v\u1ea5n ngh\u1ec1 nghi\u1ec7p Tracy Newell g\u1ecdi \u0111\u00e2y l\u00e0 \"c\u01a1n b\u00e3o vi\u1ec7c l\u00e0m ho\u00e0n h\u1ea3o\" \u0111\u1ed1i v\u1edbi sinh vi\u00ean m\u1edbi t\u1ed1t nghi\u1ec7p, khi c\u00e1c c\u00f4ng ty h\u1ea1n ch\u1ebf c\u00e1c v\u1ecb tr\u00ed c\u1ea5p \u0111\u1ed9 \u0111\u1ea7u v\u00e0o v\u00e0 c\u1ea1nh tranh kh\u1ed1c li\u1ec7t \u0111\u1ec3 tuy\u1ec3n d\u1ee5ng.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n

        \"IMG_256\"<\/p>\n

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        1. S\u1ef1 \u0111\u00e1nh \u0111\u1ed5i ch\u00ednh s\u00e1ch c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang<\/strong>: Fed g\u00e1nh v\u00e1c nhi\u1ec7m v\u1ee5 k\u00e9p l\u00e0 ki\u1ec1m ch\u1ebf l\u1ea1m ph\u00e1t v\u00e0 duy tr\u00ec vi\u1ec7c l\u00e0m. Vi\u1ec7c Nh\u00e0 Tr\u1eafng t\u0103ng thu\u1ebf quan v\u1ed1n d\u0129 t\u1ea1o ra m\u1ed9t t\u00ecnh th\u1ebf ti\u1ebfn tho\u00e1i l\u01b0\u1ee1ng nan: l\u1ea1m ph\u00e1t gia t\u0103ng v\u00e0 n\u1ec1n kinh t\u1ebf y\u1ebfu k\u00e9m. \u01afu ti\u00ean h\u1ee3p l\u00fd l\u1ebd ra ph\u1ea3i l\u00e0 \u01b0u ti\u00ean ki\u1ec3m so\u00e1t l\u1ea1m ph\u00e1t v\u00e0 duy tr\u00ec l\u00e3i su\u1ea5t cao. Tuy nhi\u00ean, Powell tuy\u00ean b\u1ed1 r\u1eb1ng th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng \u0111ang r\u1ea5t c\u1ea7n \"s\u1ef1 h\u1ed7 tr\u1ee3 kh\u1ea9n c\u1ea5p\", c\u1ea3nh b\u00e1o r\u1eb1ng n\u1ebfu r\u1ee7i ro vi\u1ec7c l\u00e0m suy gi\u1ea3m tr\u1edf th\u00e0nh hi\u1ec7n th\u1ef1c, ch\u00fang c\u00f3 th\u1ec3 g\u00e2y ra \"l\u00e0n s\u00f3ng sa th\u1ea3i v\u00e0 th\u1ea5t nghi\u1ec7p gia t\u0103ng\". H\u01a1n n\u1eefa, r\u1ee7i ro l\u1ea1m ph\u00e1t hi\u1ec7n t\u1ea1i c\u1ee7a Fed l\u00e0 c\u00f3 th\u1ec3 ki\u1ec3m so\u00e1t \u0111\u01b0\u1ee3c (kh\u00f4ng c\u00f3 d\u1ea5u hi\u1ec7u \u0111\u00e1ng k\u1ec3 n\u00e0o v\u1ec1 \"v\u00f2ng xo\u00e1y gi\u00e1-l\u01b0\u01a1ng\", t\u00ecnh tr\u1ea1ng thi\u1ebfu h\u1ee5t lao \u0111\u1ed9ng do h\u1ea1n ch\u1ebf nh\u1eadp c\u01b0 ch\u1ec9 gi\u1edbi h\u1ea1n \u1edf m\u1ed9t s\u1ed1 \u00edt ng\u00e0nh c\u00f4ng nghi\u1ec7p v\u00e0 ch\u1ec9 c\u00f3 nh\u1eefng d\u1ea5u hi\u1ec7u y\u1ebfu \u1edbt v\u1ec1 vi\u1ec7c t\u0103ng l\u01b0\u01a1ng t\u1ed5ng th\u1ec3), t\u1ea1o ni\u1ec1m tin cho vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t.<\/li>\n<\/ol>\n

          2. D\u1eef li\u1ec7u b\u1ea3ng l\u01b0\u01a1ng phi n\u00f4ng nghi\u1ec7p th\u00e1ng 8: y\u1ebfu t\u1ed1 quy\u1ebft \u0111\u1ecbnh cho vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t v\u00e0o th\u00e1ng 9<\/h2>\n
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          1. Tr\u1ecdng s\u1ed1 d\u1eef li\u1ec7u ch\u01b0a t\u1eebng c\u00f3<\/strong>: Sau khi Powell ra hi\u1ec7u c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t, th\u1ecb tr\u01b0\u1eddng r\u00f5 r\u00e0ng \u0111\u00e3 x\u00e1c \u0111\u1ecbnh d\u1eef li\u1ec7u b\u1ea3ng l\u01b0\u01a1ng phi n\u00f4ng nghi\u1ec7p th\u00e1ng 8 l\u00e0 y\u1ebfu t\u1ed1 ch\u00ednh quy\u1ebft \u0111\u1ecbnh vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t v\u00e0o th\u00e1ng 9. Nh\u00f3m nghi\u00ean c\u1ee9u c\u1ee7a Goldman Sachs l\u01b0u \u00fd r\u1eb1ng n\u1ebfu s\u1ed1 li\u1ec7u b\u1ea3ng l\u01b0\u01a1ng phi n\u00f4ng nghi\u1ec7p th\u00e1ng 8 gi\u1ea3m xu\u1ed1ng d\u01b0\u1edbi 100.000, vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t v\u00e0o th\u00e1ng 9 g\u1ea7n nh\u01b0 ch\u1eafc ch\u1eafn s\u1ebd x\u1ea3y ra. D\u1ef1 b\u00e1o 80.000 vi\u1ec7c l\u00e0m m\u1edbi c\u1ee7a h\u1ecd trong th\u00e1ng 8, k\u1ebft h\u1ee3p v\u1edbi m\u1ee9c trung b\u00ecnh h\u00e0ng th\u00e1ng tr\u01b0\u1edbc \u0111\u00f3 l\u00e0 35.000 trong th\u00e1ng 3, s\u1ebd v\u01b0\u1ee3t qu\u00e1 ng\u01b0\u1ee1ng \"t\u0103ng tr\u01b0\u1edfng c\u00e2n b\u1eb1ng\" c\u1ee7a th\u1ecb tr\u01b0\u1eddng vi\u1ec7c l\u00e0m v\u00e0 x\u00e1c nh\u1eadn xu h\u01b0\u1edbng ch\u1eadm l\u1ea1i.<\/li>\n<\/ol>\n

            \"IMG_257\"<\/p>\n

              \n
            1. \u0110\u1ed9 ch\u00ednh x\u00e1c c\u1ee7a d\u1eef li\u1ec7u \u0111ang b\u1ecb nghi ng\u1edd<\/strong>: Goldman Sachs c\u1ea3nh b\u00e1o r\u1eb1ng d\u1eef li\u1ec7u vi\u1ec7c l\u00e0m hi\u1ec7n t\u1ea1i c\u00f3 th\u1ec3 ph\u1ea3i ch\u1ecbu nhi\u1ec1u r\u1ee7i ro do \u01b0\u1edbc t\u00ednh qu\u00e1 cao, bao g\u1ed3m \"m\u00f4 h\u00ecnh sinh-t\u1eed\" ph\u00f3ng \u0111\u1ea1i quy m\u00f4 vi\u1ec7c l\u00e0m th\u1ef1c t\u1ebf, s\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa d\u1eef li\u1ec7u ADP v\u00e0 d\u1eef li\u1ec7u vi\u1ec7c l\u00e0m ch\u00ednh th\u1ee9c c\u1ee7a ng\u00e0nh y t\u1ebf v\u00e0 \u0111\u1ed9 l\u1ec7ch c\u1ee7a c\u00e1c cu\u1ed9c kh\u1ea3o s\u00e1t h\u1ed9 gia \u0111\u00ecnh trong s\u1ed1 li\u1ec7u th\u1ed1ng k\u00ea vi\u1ec7c l\u00e0m c\u1ee7a ng\u01b0\u1eddi nh\u1eadp c\u01b0.<\/li>\n
            2. Nguy\u00ean nh\u00e2n mang t\u00ednh c\u1ea5u tr\u00fac d\u1eabn \u0111\u1ebfn s\u1ef1 ch\u1eadm l\u1ea1i trong vi\u1ec7c l\u00e0m<\/strong>: S\u1ef1 suy y\u1ebfu c\u1ee7a t\u0103ng tr\u01b0\u1edfng vi\u1ec7c l\u00e0m kh\u00f4ng ch\u1ec9 do c\u00e1c ch\u00ednh s\u00e1ch th\u01b0\u01a1ng m\u1ea1i v\u00e0 nh\u1eadp c\u01b0, m\u00e0 c\u00f2n do \"vi\u1ec7c tuy\u1ec3n d\u1ee5ng b\u1eaft k\u1ecbp\" (l\u1ea5p \u0111\u1ea7y kho\u1ea3ng tr\u1ed1ng lao \u0111\u1ed9ng trong m\u1ed9t s\u1ed1 ng\u00e0nh) tr\u01b0\u1edbc \u0111\u00e2y h\u1ed7 tr\u1ee3 d\u1eef li\u1ec7u \u0111\u00e3 k\u1ebft th\u00fac \u1edf nhi\u1ec1u l\u0129nh v\u1ef1c v\u00e0 t\u0103ng tr\u01b0\u1edfng vi\u1ec7c l\u00e0m trong c\u00e1c ng\u00e0nh c\u00f2n l\u1ea1i g\u1ea7n nh\u01b0 tr\u1edf v\u1ec1 m\u1ee9c 0, \u0111i\u1ec1u n\u00e0y ph\u00f9 h\u1ee3p v\u1edbi xu h\u01b0\u1edbng suy tho\u00e1i ho\u1ea1t \u0111\u1ed9ng kinh t\u1ebf n\u00f3i chung v\u00e0o n\u0103m 2025. C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang lo ng\u1ea1i v\u1ec1 vi\u1ec7c \"h\u00e0nh \u0111\u1ed9ng qu\u00e1 mu\u1ed9n v\u00e0 b\u1ecf l\u1ee1 c\u01a1 h\u1ed9i \u1ed5n \u0111\u1ecbnh vi\u1ec7c l\u00e0m\".<\/li>\n<\/ol>\n

              \"IMG_258\"<\/p>\n

              III. S\u1ef1 kh\u00f4ng ch\u1eafc ch\u1eafn v\u1ec1 t\u1ed1c \u0111\u1ed9 c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t ti\u1ebfp theo v\u00e0 s\u1ef1 ph\u1ed1i h\u1ee3p ch\u00ednh s\u00e1ch<\/h2>\n
                \n
              1. T\u1ed1c \u0111\u1ed9 c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t ph\u1ee5 thu\u1ed9c v\u00e0o t\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p: Ngay c\u1ea3 khi vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n v\u00e0o th\u00e1ng 9, t\u1ed1c \u0111\u1ed9 c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t trong ph\u1ea7n c\u00f2n l\u1ea1i c\u1ee7a n\u0103m 2025 v\u00e0 2026 s\u1ebd \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh b\u1edfi nh\u1eefng thay \u0111\u1ed5i v\u1ec1 t\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p trong nh\u1eefng th\u00e1ng t\u1edbi. Chuy\u00ean gia kinh t\u1ebf c\u1ea5p cao Jonathan Miller c\u1ee7a Barclays tin r\u1eb1ng vi\u1ec7c t\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p ti\u1ebfp t\u1ee5c t\u0103ng c\u00f3 th\u1ec3 d\u1eabn \u0111\u1ebfn vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t tri\u1ec7t \u0111\u1ec3 h\u01a1n v\u00e0 c\u00e1c ch\u00ednh s\u00e1ch s\u1ebd d\u1ea7n tr\u1edf l\u1ea1i b\u00ecnh th\u01b0\u1eddng khi vi\u1ec7c l\u00e0m \u1ed5n \u0111\u1ecbnh. Powell s\u1ebd ti\u1ebfp t\u1ee5c gi\u1eef quan \u0111i\u1ec3m \"c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t, kh\u00f4ng ph\u1ea3i k\u00edch th\u00edch kinh t\u1ebf\" v\u00ec ph\u1ea1m vi l\u00e3i su\u1ea5t hi\u1ec7n t\u1ea1i l\u00e0 4,25%-4,5% v\u1eabn cao h\u01a1n m\u1ee9c trung l\u1eadp c\u1ee7a chu k\u1ef3 kinh t\u1ebf v\u00e0 vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t l\u00e0 m\u1ed9t \"s\u1ef1 \u0111i\u1ec1u ch\u1ec9nh c\u1ee7a ch\u00ednh s\u00e1ch th\u1eaft ch\u1eb7t tr\u01b0\u1edbc \u0111\u00f3\".<\/li>\n
              2. M\u1ed1i li\u00ean h\u1ec7 ch\u00ednh s\u00e1ch trong \"th\u1eddi k\u1ef3 h\u1eadu Powell\"<\/strong>: Goldman Sachs d\u1ef1 \u0111o\u00e1n r\u1eb1ng b\u1ea5t k\u1ec3 n\u1ec1n kinh t\u1ebf t\u0103ng tr\u01b0\u1edfng ch\u1eadm l\u1ea1i hay b\u00ecnh th\u01b0\u1eddng h\u00f3a, \u0111\u1ee3t c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t n\u00e0y r\u1ea5t c\u00f3 th\u1ec3 s\u1ebd k\u1ebft th\u00fac khi Ch\u1ee7 t\u1ecbch C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang ti\u1ebfp theo nh\u1eadm ch\u1ee9c. Vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t hi\u1ec7n t\u1ea1i kh\u00f4ng ch\u1ec9 nh\u1eb1m \u1ee9ng ph\u00f3 v\u1edbi c\u00e1c r\u1ee7i ro vi\u1ec7c l\u00e0m ng\u1eafn h\u1ea1n m\u00e0 c\u00f2n m\u1edf \u0111\u01b0\u1eddng cho c\u00e1c m\u1ed1i li\u00ean h\u1ec7 ch\u00ednh s\u00e1ch ti\u1ebfp theo.<\/li>\n<\/ol>\n

                \"H\u00ecnh<\/p>\n

                T\u00f3m l\u1ea1i, th\u1ecb tr\u01b0\u1eddng l\u00e3i su\u1ea5t ng\u1eafn h\u1ea1n hi\u1ec7n t\u1ea1i c\u1ee7a Hoa K\u1ef3 \u0111ang trong tr\u1ea1ng th\u00e1i ch\u1edd \u0111\u1ee3i d\u1eef li\u1ec7u b\u1ea3ng l\u01b0\u01a1ng phi n\u00f4ng nghi\u1ec7p th\u00e1ng 8. M\u1eb7c d\u00f9 Powell \u0111\u00e3 b\u1eadt \u0111\u00e8n xanh cho vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t v\u00e0o th\u00e1ng 9, nh\u01b0ng ch\u00ednh s\u00e1ch \"c\u00e2n b\u1eb1ng vi\u1ec7c l\u00e0m v\u00e0 l\u1ea1m ph\u00e1t\" v\u1eabn c\u1ea7n s\u1eed d\u1ee5ng d\u1eef li\u1ec7u b\u1ea3ng l\u01b0\u01a1ng phi n\u00f4ng nghi\u1ec7p th\u00e1ng 8 l\u00e0m ch\u00fa th\u00edch quan tr\u1ecdng \u0111\u1ea7u ti\u00ean, v\u00e0 \u0111\u1ecbnh h\u01b0\u1edbng ch\u00ednh s\u00e1ch trung v\u00e0 d\u00e0i h\u1ea1n v\u1eabn ch\u1ecbu \u1ea3nh h\u01b0\u1edfng s\u00e2u s\u1eafc b\u1edfi \u0111\u1ed9ng l\u1ef1c th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng v\u00e0 xu h\u01b0\u1edbng kinh t\u1ebf.<\/p>","protected":false},"excerpt":{"rendered":"

                Fed ph\u00e1t t\u00edn hi\u1ec7u s\u1ebd c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t v\u00e0o th\u00e1ng 9 sau khi s\u1ed1 li\u1ec7u vi\u1ec7c l\u00e0m th\u00e1ng 7 y\u1ebfu, d\u1eef li\u1ec7u NFP th\u00e1ng 8 hi\u1ec7n l\u00e0 y\u1ebfu t\u1ed1 then ch\u1ed1t.<\/p>","protected":false},"author":1,"featured_media":7693,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[115],"tags":[131,145,139],"class_list":["post-7692","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-news","tag-fed","tag-nfp","tag-rate"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/7692","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/comments?post=7692"}],"version-history":[{"count":1,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/7692\/revisions"}],"predecessor-version":[{"id":7699,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/7692\/revisions\/7699"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/media\/7693"}],"wp:attachment":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/media?parent=7692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/categories?post=7692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/tags?post=7692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}