{"id":9709,"date":"2026-07-30T08:33:59","date_gmt":"2026-07-30T08:33:59","guid":{"rendered":"https:\/\/www.mdwcc.com\/?p=9709"},"modified":"2026-07-30T08:34:02","modified_gmt":"2026-07-30T08:34:02","slug":"in-depth-analysis-of-the-feds-july-meeting-are-internal-divisions-emerging-september-becomes-a-key-window-for-policy-shift","status":"publish","type":"post","link":"https:\/\/www.mdwcc.com\/vi\/in-depth-analysis-of-the-feds-july-meeting-are-internal-divisions-emerging-september-becomes-a-key-window-for-policy-shift\/","title":{"rendered":"Ph\u00e2n t\u00edch chuy\u00ean s\u00e2u cu\u1ed9c h\u1ecdp th\u00e1ng 7 c\u1ee7a Fed \u2013 S\u1ef1 chia r\u1ebd n\u1ed9i b\u1ed9 \u0111ang n\u1ed5i l\u00ean? Th\u00e1ng 9 tr\u1edf th\u00e0nh th\u1eddi \u0111i\u1ec3m quan tr\u1ecdng cho s\u1ef1 thay \u0111\u1ed5i ch\u00ednh s\u00e1ch!"},"content":{"rendered":"

Nh\u00f3m nghi\u00ean c\u1ee9u v\u0129 m\u00f4 c\u1ee7a Ace Markets \u0111\u00e3 ch\u1ec9 ra r\u1eb1ng quy\u1ebft \u0111\u1ecbnh c\u1ee7a Fed t\u1ea1i cu\u1ed9c h\u1ecdp FOMC th\u00e1ng 7 v\u1ec1 vi\u1ec7c duy tr\u00ec l\u00e3i su\u1ea5t qu\u1ef9 li\u00ean bang \u1edf m\u1ee9c 3,50% -3,75% ph\u1ea7n l\u1edbn ph\u00f9 h\u1ee3p v\u1edbi k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng. Tuy nhi\u00ean, nh\u1eefng b\u1ea5t \u0111\u1ed3ng n\u1ed9i b\u1ed9 v\u00e0 nh\u1eefng t\u00edn hi\u1ec7u ch\u00ednh s\u00e1ch \u0111\u01b0\u1ee3c \u0111\u01b0a ra t\u1ea1i cu\u1ed9c h\u1ecdp \u0111\u00e3 t\u00e1c \u0111\u1ed9ng v\u00e0 khi\u1ebfn gi\u00e1 c\u1ea3 th\u1ecb tr\u01b0\u1eddng ch\u00eanh l\u1ec7ch v\u01b0\u1ee3t xa k\u1ef3 v\u1ecdng chung.<\/p>\n

<\/a>Ch\u1ee7 t\u1ecbch m\u1edbi \u0111\u01b0\u1ee3c b\u1ea7u ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi s\u1ef1 chia r\u1ebd n\u1ed9i b\u1ed9 hi\u1ebfm hoi, d\u1eabn \u0111\u1ebfn s\u1ef1 thay \u0111\u1ed5i m\u00f4 h\u00ecnh trong khu\u00f4n kh\u1ed5 ra quy\u1ebft \u0111\u1ecbnh.<\/strong><\/p>\n

Cu\u1ed9c h\u1ecdp cu\u1ed1i c\u00f9ng \u0111\u00e3 th\u00f4ng qua quy\u1ebft \u0111\u1ecbnh duy tr\u00ec l\u00e3i su\u1ea5t b\u1eb1ng t\u1ef7 l\u1ec7 b\u1ecf phi\u1ebfu 9-3. Ba quan ch\u1ee9c\u2014Ch\u1ee7 t\u1ecbch Fed Cleveland Hamack, Ch\u1ee7 t\u1ecbch Fed Minneapolis Kashkari v\u00e0 Ch\u1ee7 t\u1ecbch Fed Dallas Logan\u2014\u0111\u00e3 c\u00f4ng khai \u1ee7ng h\u1ed9 vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t 25 \u0111i\u1ec3m c\u01a1 b\u1ea3n. \u0110\u00e2y l\u00e0 l\u1ea7n \u0111\u1ea7u ti\u00ean k\u1ec3 t\u1eeb n\u0103m 2016 c\u00f3 ba quan ch\u1ee9c b\u1ecf phi\u1ebfu ch\u1ed1ng c\u00f9ng m\u1ed9t \u0111\u01b0\u1eddng l\u1ed1i ch\u00ednh s\u00e1ch.<\/p>\n

<\/p>\n

M\u1ed9t \u0111\u00e1nh gi\u00e1 v\u1ec1 s\u1ef1 b\u1ea5t \u0111\u1ed3ng quan \u0111i\u1ec3m l\u1ecbch s\u1eed c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang do Ace Markets th\u1ef1c hi\u1ec7n cho th\u1ea5y r\u1eb1ng m\u1ee9c \u0111\u1ed9 b\u1ea5t \u0111\u1ed3ng ch\u00ednh s\u00e1ch nh\u01b0 v\u1eady l\u00e0 c\u1ef1c k\u1ef3 hi\u1ebfm trong nh\u1eefng ng\u00e0y \u0111\u1ea7u c\u1ee7a nhi\u1ec7m k\u1ef3 ch\u1ee7 t\u1ecbch m\u1edbi: k\u1ec3 t\u1eeb nh\u1eefng n\u0103m 1970, ch\u1ec9 c\u00f3 cu\u1ed9c h\u1ecdp \u0111\u1ea7u ti\u00ean c\u1ee7a Arthur Burns m\u1edbi ch\u1ee9ng ki\u1ebfn \u200b\u200bm\u1ee9c \u0111\u1ed9 b\u1ea5t \u0111\u1ed3ng t\u01b0\u01a1ng t\u1ef1; Cu\u1ed9c h\u1ecdp \u0111\u1ea7u ti\u00ean c\u1ee7a Paul Volcker c\u00f3 hai quan ch\u1ee9c b\u1ea5t \u0111\u1ed3ng ch\u00ednh ki\u1ebfn, t\u0103ng l\u00ean b\u1ed1n ng\u01b0\u1eddi trong cu\u1ed9c h\u1ecdp th\u1ee9 hai; v\u00e0 Powell, sau khi nh\u1eadm ch\u1ee9c v\u00e0o n\u0103m 2018, \u0111\u00e3 nh\u1eadn \u0111\u01b0\u1ee3c s\u1ef1 \u1ee7ng h\u1ed9 nh\u1ea5t tr\u00ed trong m\u1ed9t s\u1ed1 cu\u1ed9c h\u1ecdp li\u00ean ti\u1ebfp cho \u0111\u1ebfn khi \u00fd ki\u1ebfn \u200b\u200bb\u1ea5t \u0111\u1ed3ng ch\u00ednh ki\u1ebfn \u200b\u200b\u200b\u200b\u0111\u1ea7u ti\u00ean xu\u1ea5t hi\u1ec7n v\u00e0o th\u00e1ng 6 n\u0103m 2019. Vi\u1ec7c Warsh ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi s\u1ef1 chia r\u1ebd n\u1ed9i b\u1ed9 gay g\u1eaft nh\u01b0 v\u1eady ch\u1ec9 trong cu\u1ed9c h\u1ecdp th\u1ee9 hai c\u1ee7a \u00f4ng \u0111\u00e3 m\u1ed9t m\u1eb7t x\u00e1c nh\u1eadn r\u1eb1ng phong c\u00e1ch \u0111i\u1ec1u h\u00e0nh \u201ctranh lu\u1eadn n\u1ed9i b\u1ed9 \u0111\u1ea7y \u0111\u1ee7\u201d \u0111\u01b0\u1ee3c \u0111\u1ec1 xu\u1ea5t tr\u01b0\u1edbc \u0111\u00e2y c\u1ee7a \u00f4ng \u0111ang \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n, m\u1eb7t kh\u00e1c, l\u00e0m n\u1ed5i b\u1eadt s\u1ef1 \u0111\u1ed3ng thu\u1eadn \u0111ang suy y\u1ebfu nhanh ch\u00f3ng v\u1ec1 \u0111\u01b0\u1eddng l\u1ed1i ch\u00ednh s\u00e1ch hi\u1ec7n t\u1ea1i.<\/p>\n

<\/a>Logic c\u01a1 b\u1ea3n \u0111\u1eb1ng sau s\u1ef1 n\u1ed5i l\u00ean c\u1ee7a ch\u00ednh s\u00e1ch di\u1ec1u h\u00e2u: Ba y\u1ebfu t\u1ed1 h\u1ed7 tr\u1ee3 vi\u1ec7c \u0111\u00e1nh gi\u00e1 l\u1ea1m ph\u00e1t c\u1ed1 \u0111\u1ecbnh.<\/strong><\/p>\n

Nh\u00f3m nghi\u00ean c\u1ee9u c\u1ee7a Ace Markets tin r\u1eb1ng s\u1ef1 gia t\u0103ng t\u00e2m l\u00fd di\u1ec1u h\u00e2u g\u1ea7n \u0111\u00e2y kh\u00f4ng ph\u1ea3i l\u00e0 m\u1ed9t bi\u1ebfn \u0111\u1ed9ng c\u1ea3m x\u00fac ng\u1eafn h\u1ea1n m\u00e0 l\u00e0 k\u1ebft qu\u1ea3 t\u1ea5t y\u1ebfu c\u1ee7a s\u1ef1 h\u1ed9i t\u1ee5 c\u1ee7a nhi\u1ec1u \u0111\u1ed9ng l\u1ef1c l\u1ea1m ph\u00e1t, v\u1edbi s\u1ef1 h\u1ed7 tr\u1ee3 c\u1ed1t l\u00f5i t\u1eeb ba chi\u1ec1u:<\/p>\n

Nh\u1eefng c\u00fa s\u1ed1c t\u1eeb ph\u00eda cung v\u1eabn ti\u1ebfp di\u1ec5n <\/strong>: C\u0103ng th\u1eb3ng \u0111\u1ecba ch\u00ednh tr\u1ecb leo thang \u1edf Trung \u0110\u00f4ng \u0111\u00e3 \u0111\u1ea9y gi\u00e1 n\u0103ng l\u01b0\u1ee3ng t\u0103ng tr\u1edf l\u1ea1i, \u0111\u1ed3ng th\u1eddi t\u00e1c \u0111\u1ed9ng c\u1ee7a c\u00e1c ch\u00ednh s\u00e1ch thu\u1ebf quan tr\u01b0\u1edbc \u0111\u00e2y \u0111\u1ed1i v\u1edbi gi\u00e1 h\u00e0ng h\u00f3a v\u1eabn ch\u01b0a gi\u1ea3m b\u1edbt ho\u00e0n to\u00e0n, d\u1eabn \u0111\u1ebfn \u00e1p l\u1ef1c chi ph\u00ed ti\u1ebfp t\u1ee5c l\u00e0m tan v\u1ee1 s\u1ef1 l\u1ea1c quan tr\u01b0\u1edbc \u0111\u00f3 c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u1ec1 l\u1ea1m ph\u00e1t gi\u1ea3m m\u1ed9t chi\u1ec1u.<\/p>\n

Kh\u1ea3 n\u0103ng ph\u1ee5c h\u1ed3i nhu c\u1ea7u v\u01b0\u1ee3t qu\u00e1 mong \u0111\u1ee3i <\/strong>: S\u1ef1 m\u1edf r\u1ed9ng c\u1ee7a ng\u00e0nh tr\u00ed tu\u1ec7 nh\u00e2n t\u1ea1o \u0111\u00e3 th\u00fac \u0111\u1ea9y \u0111\u1ea7u t\u01b0 v\u00e0o trung t\u00e2m d\u1eef li\u1ec7u v\u00e0 c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng m\u00e1y t\u00ednh t\u0103ng tr\u01b0\u1edfng nhanh ch\u00f3ng, trong \u0111\u00f3 m\u1ed9t s\u1ed1 l\u0129nh v\u1ef1c \u0111\u00e3 c\u00f3 kho\u1ea3ng c\u00e1ch cung-c\u1ea7u. C\u00e1c nh\u00e0 ph\u00e2n t\u00edch di\u1ec1u h\u00e2u tin r\u1eb1ng nhu c\u1ea7u n\u00e0y c\u00f3 t\u00ednh b\u1ec1n v\u1eefng cao v\u00e0 kh\u00f4ng ph\u1ea3i l\u00e0 m\u1ed9t c\u00fa s\u1ed1c ng\u1eafn h\u1ea1n, ch\u1ec9 x\u1ea3y ra m\u1ed9t l\u1ea7n; kh\u00f4ng c\u00f3 nh\u1eefng h\u1ea1n ch\u1ebf v\u1ec1 t\u1ed5ng c\u1ea7u, \u00e1p l\u1ef1c l\u1ea1m ph\u00e1t kh\u00f3 c\u00f3 th\u1ec3 gi\u1ea3m b\u1edbt m\u1ed9t c\u00e1ch t\u1ef1 nhi\u00ean.<\/p>\n

L\u00e3i su\u1ea5t th\u1ef1c \u0111\u01b0\u1ee3c n\u1edbi l\u1ecfng m\u1ed9t c\u00e1ch th\u1ee5 \u0111\u1ed9ng <\/strong>: m\u1eb7t b\u1eb1ng l\u00e3i su\u1ea5t \u0111i\u1ec1u h\u00e0nh th\u1ef1c t\u1ebf sau \u0111i\u1ec1u ch\u1ec9nh theo l\u1ea1m ph\u00e1t \u0111\u00e3 gi\u1ea3m \u0111\u00e1ng k\u1ec3 so v\u1edbi k\u1ef3 v\u1ecdng h\u1ed3i \u0111\u1ea7u n\u0103m khi l\u00e3i su\u1ea5t \u0111\u01b0\u1ee3c c\u1eaft gi\u1ea3m; c\u00f9ng v\u1edbi vi\u1ec7c th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n v\u1eabn \u1edf m\u1ee9c cao v\u00e0 m\u00f4i tr\u01b0\u1eddng t\u00e0i ch\u00ednh doanh nghi\u1ec7p l\u1ecfng l\u1ebbo n\u00f3i chung, vi\u1ec7c n\u1edbi l\u1ecfng th\u1ef1c t\u1ebf m\u00f4i tr\u01b0\u1eddng ti\u1ec1n t\u1ec7 \u0111\u00e3 v\u01b0\u1ee3t qu\u00e1 nhu c\u1ea7u kinh t\u1ebf hi\u1ec7n t\u1ea1i, \u0111\u00e2y c\u0169ng l\u00e0 c\u01a1 s\u1edf \u0111\u1ecbnh l\u01b0\u1ee3ng c\u1ed1t l\u00f5i \u0111\u1ec3 c\u00e1c th\u00e0nh vi\u00ean \u1ee7y ban ch\u1ee7 tr\u01b0\u01a1ng th\u1eaft ch\u1eb7t tr\u01b0\u1edbc.<\/p>\n

\"\u5c40\u90e8\u622a\u53d6_20260730_155936\"<\/p>\n

Ng\u01b0\u1ee3c l\u1ea1i, phe th\u1eadn tr\u1ecdng v\u1eabn cho r\u1eb1ng th\u1ecb tr\u01b0\u1eddng vi\u1ec7c l\u00e0m kh\u00f4ng ph\u1ea3i l\u00e0 \u0111\u1ed9ng l\u1ef1c ch\u00ednh g\u00e2y ra l\u1ea1m ph\u00e1t hi\u1ec7n t\u1ea1i v\u00e0 nh\u1eefng c\u00fa s\u1ed1c x\u1ea3y ra m\u1ed9t l\u1ea7n cu\u1ed1i c\u00f9ng s\u1ebd gi\u1ea3m d\u1ea7n theo th\u1eddi gian. H\u1ecd l\u1eadp lu\u1eadn r\u1eb1ng vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t qu\u00e1 s\u1edbm c\u00f3 th\u1ec3 d\u1eabn \u0111\u1ebfn vi\u1ec7c ch\u00ednh s\u00e1ch v\u01b0\u1ee3t qu\u00e1 gi\u1edbi h\u1ea1n. B\u1ea3n ch\u1ea5t c\u1ee7a s\u1ef1 b\u1ea5t \u0111\u1ed3ng n\u1eb1m \u1edf nh\u1eefng \u0111\u00e1nh gi\u00e1 kh\u00e1c nhau v\u1ec1 \u201cs\u1ef1 t\u1ed3n t\u1ea1i c\u1ee7a l\u1ea1m ph\u00e1t\u201d v\u00e0 \u201c\u0111\u1ed9 tr\u1ec5 ch\u00ednh s\u00e1ch\u201d. Ng\u01b0\u1ee1ng \u201cl\u1ea1m ph\u00e1t l\u00f5i h\u00e0ng th\u00e1ng 0,2%\u201d do Ch\u1ee7 t\u1ecbch Fed New York Williams \u0111\u1ec1 xu\u1ea5t \u0111ang tr\u1edf th\u00e0nh m\u1ed9t tham chi\u1ebfu ch\u00ednh \u0111\u1ec3 th\u1ecb tr\u01b0\u1eddng quan s\u00e1t nh\u1eefng thay \u0111\u1ed5i ch\u00ednh s\u00e1ch - n\u1ebfu ch\u1ec9 s\u1ed1 n\u00e0y v\u1eabn duy tr\u00ec tr\u00ean m\u1ee9c n\u00e0y, \u0111i\u1ec1u \u0111\u00f3 cho th\u1ea5y nhu c\u1ea7u qu\u00e1 n\u00f3ng thay v\u00ec truy\u1ec1n t\u1ea3i chi ph\u00ed \u0111\u01a1n gi\u1ea3n v\u00e0 s\u1ef1 c\u1ea7n thi\u1ebft ph\u1ea3i th\u1eaft ch\u1eb7t ch\u00ednh s\u00e1ch s\u1ebd nhanh ch\u00f3ng t\u0103ng l\u00ean.<\/p>\n

<\/a>Chi\u1ebfn l\u01b0\u1ee3c \u201ckh\u00f4ng c\u00f3 h\u01b0\u1edbng d\u1eabn\u201d khu\u1ebfch \u0111\u1ea1i s\u1ef1 bi\u1ebfn \u0111\u1ed9ng; cu\u1ed9c h\u1ecdp th\u00e1ng 9 s\u1ebd tr\u1edf th\u00e0nh m\u1ed9t c\u1eeda s\u1ed5 x\u00e1c minh quan tr\u1ecdng.<\/strong><\/p>\n

Nh\u00f3m chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a Ace Markets nh\u1ea5n m\u1ea1nh r\u1eb1ng m\u00f4 h\u00ecnh ra quy\u1ebft \u0111\u1ecbnh c\u1ee7a Warsh, trong \u0111\u00f3 nh\u1ea5n m\u1ea1nh \u0111\u1ebfn vi\u1ec7c \u201cl\u00e0m suy y\u1ebfu h\u01b0\u1edbng d\u1eabn v\u1ec1 ph\u00eda tr\u01b0\u1edbc v\u00e0 d\u1ef1a v\u00e0o c\u00e1c ph\u01b0\u01a1ng ph\u00e1p ti\u1ebfp c\u1eadn d\u1ef1a tr\u00ean d\u1eef li\u1ec7u\u201d, \u0111ang khu\u1ebfch \u0111\u1ea1i s\u1ef1 bi\u1ebfn \u0111\u1ed9ng c\u1ee7a k\u1ef3 v\u1ecdng th\u1ecb tr\u01b0\u1eddng. Kh\u00f4ng gi\u1ed1ng nh\u01b0 h\u01b0\u1edbng d\u1eabn r\u00f5 r\u00e0ng tr\u01b0\u1edbc \u0111\u00e2y c\u1ee7a Fed v\u1ec1 l\u1ed9 tr\u00ecnh l\u00e3i su\u1ea5t, ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng hi\u1ec7n \u0111ang c\u1ed1 t\u00ecnh gi\u1ea3m c\u00e1c c\u1ea3nh b\u00e1o tr\u01b0\u1edbc v\u1ec1 c\u00e1c ch\u00ednh s\u00e1ch trong t\u01b0\u01a1ng lai, khi\u1ebfn gi\u00e1 c\u1ea3 th\u1ecb tr\u01b0\u1eddng kh\u00f4ng c\u00f3 \u0111i\u1ec3m t\u1ef1a \u1ed5n \u0111\u1ecbnh v\u00e0 khu\u1ebfch \u0111\u1ea1i \u0111\u00e1ng k\u1ec3 t\u1ed1c \u0111\u1ed9 c\u0169ng nh\u01b0 m\u1ee9c \u0111\u1ed9 thay \u0111\u1ed5i k\u1ef3 v\u1ecdng. Hi\u1ec7n t\u1ea1i, th\u1ecb tr\u01b0\u1eddng t\u01b0\u01a1ng lai l\u00e3i su\u1ea5t \u0111\u00e3 \u0111\u1ecbnh gi\u00e1 kh\u1ea3 n\u0103ng t\u0103ng l\u00e3i su\u1ea5t 25 \u0111i\u1ec3m c\u01a1 b\u1ea3n t\u1ea1i cu\u1ed9c h\u1ecdp th\u00e1ng 9 l\u00e0 v\u01b0\u1ee3t qu\u00e1 60%, cho th\u1ea5y th\u1ecb tr\u01b0\u1eddng \u0111ang nhanh ch\u00f3ng \u0111i\u1ec1u ch\u1ec9nh nh\u1eefng k\u1ef3 v\u1ecdng tr\u01b0\u1edbc \u0111\u00e2y v\u1ec1 vi\u1ec7c n\u1edbi l\u1ecfng \u0111\u01a1n ph\u01b0\u01a1ng.<\/p>\n

Theo quan \u0111i\u1ec3m c\u1ee7a ch\u00fang t\u00f4i, cu\u1ed9c h\u1ecdp FOMC v\u00e0o ng\u00e0y 15-16 th\u00e1ng 9 s\u1ebd l\u00e0 th\u1eddi \u0111i\u1ec3m x\u00e1c minh quan tr\u1ecdng cho chu k\u1ef3 ch\u00ednh s\u00e1ch n\u00e0y: Fed s\u1ebd nh\u1eadn \u0111\u01b0\u1ee3c hai b\u1ed9 d\u1eef li\u1ec7u vi\u1ec7c l\u00e0m v\u00e0 l\u1ea1m ph\u00e1t m\u1edbi, \u0111\u1ee7 \u0111\u1ec3 \u0111\u01b0a ra \u0111\u00e1nh gi\u00e1 \u0111\u1ecbnh t\u00ednh r\u00f5 r\u00e0ng h\u01a1n v\u1ec1 vi\u1ec7c \u00e1p l\u1ef1c gi\u00e1 hi\u1ec7n t\u1ea1i l\u00e0 \u201cbi\u1ebfn \u0111\u1ed9ng ng\u1eafn h\u1ea1n\u201d hay \u201c\u0111\u1ea3o ng\u01b0\u1ee3c xu h\u01b0\u1edbng\u201d v\u00e0 \u0111\u1ecbnh h\u01b0\u1edbng ch\u00ednh s\u00e1ch c\u0169ng s\u1ebd c\u00f3 s\u1ef1 l\u1ef1a ch\u1ecdn \u0111\u00e1ng k\u1ec3. \u0110\u00e1nh gi\u00e1 c\u1ee7a Kurt Lewis, c\u1ef1u quan ch\u1ee9c Fed v\u00e0 c\u1ed1 v\u1ea5n c\u1ea5p cao t\u1ea1i Piper Sandler, c\u0169ng ch\u1ee9ng th\u1ef1c quan \u0111i\u1ec3m c\u1ee7a ch\u00fang t\u00f4i: ng\u01b0\u1ee1ng t\u0103ng l\u00e3i su\u1ea5t c\u1ee7a Fed trong n\u0103m nay kh\u00f4ng cao, v\u00e0 n\u1ebfu \u00e1p l\u1ef1c gi\u00e1 ti\u1ebfp t\u1ee5c xu\u1ea5t hi\u1ec7n trong 2 th\u00e1ng t\u1edbi th\u00ec kh\u1ea3 n\u0103ng th\u1ef1c thi ch\u00ednh s\u00e1ch s\u1ebd t\u0103ng l\u00ean \u0111\u00e1ng k\u1ec3.<\/p>\n

\"\u5c40\u90e8\u622a\u53d6_20260730_160230\"<\/p>\n

<\/a>\u0110\u1eb1ng sau nh\u1eefng b\u1ea5t th\u01b0\u1eddng c\u1ee7a th\u1ecb tr\u01b0\u1eddng: K\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t d\u00e0i h\u1ea1n \u0111ang \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 l\u1ea1i.<\/strong><\/p>\n

V\u1ec1 hi\u1ec7u qu\u1ea3 ho\u1ea1t \u0111\u1ed9ng c\u1ee7a c\u00e1c lo\u1ea1i t\u00e0i s\u1ea3n ch\u00ednh sau cu\u1ed9c h\u1ecdp n\u00e0y, nh\u00f3m thu nh\u1eadp c\u1ed1 \u0111\u1ecbnh c\u1ee7a Ace Markets \u0111\u00e3 quan s\u00e1t th\u1ea5y s\u1ef1 ph\u00e2n k\u1ef3 k\u1ef3 h\u1ea1n r\u1ea5t \u0111\u00e1ng k\u1ec3: l\u00e3i su\u1ea5t tr\u00e1i phi\u1ebfu kho b\u1ea1c k\u1ef3 h\u1ea1n 2 n\u0103m, nh\u1ea1y c\u1ea3m v\u1edbi c\u00e1c k\u1ef3 v\u1ecdng v\u1ec1 ch\u00ednh s\u00e1ch, gi\u1ea3m ph\u1ea7n n\u00e0o do k\u1ef3 v\u1ecdng v\u1ec1 vi\u1ec7c \u201ct\u0103ng l\u00e3i su\u1ea5t b\u1ecb tr\u00ec ho\u00e3n\u201d, nh\u01b0ng l\u00e3i su\u1ea5t d\u00e0i h\u1ea1n t\u0103ng m\u1ea1nh, trong \u0111\u00f3 l\u00e3i su\u1ea5t tr\u00e1i phi\u1ebfu kho b\u1ea1c k\u1ef3 h\u1ea1n 30 n\u0103m c\u00f3 m\u1ee9c t\u0103ng trong m\u1ed9t ng\u00e0y l\u1edbn nh\u1ea5t trong h\u01a1n m\u1ed9t n\u0103m, \u0111\u1ea1t m\u1ee9c cao nh\u1ea5t k\u1ec3 t\u1eeb n\u0103m 2007; Ch\u1ee9ng kho\u00e1n c\u0169ng ch\u1ecbu \u00e1p l\u1ef1c, v\u1edbi ch\u1ec9 s\u1ed1 Trung b\u00ecnh C\u00f4ng nghi\u1ec7p Dow Jones gi\u1ea3m h\u01a1n 1.100 \u0111i\u1ec3m ch\u1ec9 trong m\u1ed9t ng\u00e0y, gi\u1ea3m 2,2%. Xu h\u01b0\u1edbng n\u00e0y v\u1ec1 c\u01a1 b\u1ea3n ph\u1ea3n \u00e1nh s\u1ef1 \u0111\u00e1nh gi\u00e1 l\u1ea1i c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u1ec1 trung t\u00e2m l\u1ea1m ph\u00e1t d\u00e0i h\u1ea1n - vi\u1ec7c Fed kh\u00f4ng h\u00e0nh \u0111\u1ed9ng trong ng\u1eafn h\u1ea1n \u0111\u00e3 kh\u00f4ng xua tan m\u1ed1i lo ng\u1ea1i c\u1ee7a c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 v\u1ec1 l\u1ea1m ph\u00e1t kh\u00f3 kh\u0103n, m\u00e0 c\u00f2n \u0111\u1ea9y cao \u0111\u1ecbnh gi\u00e1 d\u00e0i h\u1ea1n c\u1ee7a \u201cl\u00e3i su\u1ea5t cao k\u00e9o d\u00e0i h\u01a1n\u201d. Trong khi \u0111\u00f3, l\u00e3i su\u1ea5t th\u1ebf ch\u1ea5p c\u1ed1 \u0111\u1ecbnh k\u1ef3 h\u1ea1n 30 n\u0103m \u0111\u00e3 t\u0103ng l\u00ean 6,76%, m\u1ee9c cao g\u1ea7n m\u1ed9t n\u0103m v\u00e0 chi ph\u00ed t\u00e0i ch\u00ednh gia t\u0103ng \u0111\u1ed1i v\u1edbi c\u00e1c h\u1ed9 gia \u0111\u00ecnh \u0111ang d\u1ea7n \u0111\u01b0\u1ee3c truy\u1ec1n sang n\u1ec1n kinh t\u1ebf th\u1ef1c.<\/p>\n

<\/a>C\u00e2n b\u1eb1ng Ch\u00ednh s\u00e1ch v\u00e0 Ch\u00ednh tr\u1ecb: Tr\u00f2 ch\u01a1i t\u1ebf nh\u1ecb gi\u1eefa Nh\u00e0 Tr\u1eafng v\u00e0 C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang<\/strong><\/p>\n

Nh\u00f3m nghi\u00ean c\u1ee9u ch\u00ednh s\u00e1ch c\u1ee7a Ace Markets l\u01b0u \u00fd r\u1eb1ng s\u1ef1 t\u01b0\u01a1ng t\u00e1c gi\u1eefa Nh\u00e0 Tr\u1eafng v\u00e0 C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang \u0111ang b\u01b0\u1edbc v\u00e0o m\u1ed9t giai \u0111o\u1ea1n m\u1edbi v\u00e0 nh\u1ea1y c\u1ea3m. Trump \u0111\u00e3 c\u00f4ng khai b\u00e0y t\u1ecf s\u1ef1 \u1ee7ng h\u1ed9 c\u1ee7a m\u00ecnh \u0111\u1ed1i v\u1edbi Warsh, n\u00f3i r\u1eb1ng \u00f4ng \u201cmu\u1ed1n th\u1ea5y l\u00e3i su\u1ea5t th\u1ea5p h\u01a1n\u201d, \u0111\u1ed3ng th\u1eddi quy k\u1ebft l\u00e3i su\u1ea5t cao cho \u201cc\u00e1c \u1ee7y ban ch\u00ednh tr\u1ecb h\u00f3a\u201d. \u0110i\u1ec1u n\u00e0y duy tr\u00ec l\u1eadp tr\u01b0\u1eddng c\u1ee7a \u00f4ng v\u1ec1 vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t \u0111\u1ed3ng th\u1eddi tr\u00e1nh \u0111\u1ed1i \u0111\u1ea7u tr\u1ef1c ti\u1ebfp v\u1edbi t\u00e2n ch\u1ee7 t\u1ecbch. Tuy nhi\u00ean, \u0111i\u1ec1u \u0111\u00e1ng ch\u00fa \u00fd l\u00e0 n\u1ebfu Fed t\u0103ng l\u00e3i su\u1ea5t v\u00e0o th\u00e1ng 9 ho\u1eb7c th\u1eadm ch\u00ed cu\u1ed1i n\u0103m nay, xung \u0111\u1ed9t ch\u00ednh s\u00e1ch gi\u1eefa Nh\u00e0 Tr\u1eafng v\u00e0 ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng c\u00f3 th\u1ec3 s\u1ebd leo thang tr\u1edf l\u1ea1i. \u0110\u1ed1i v\u1edbi Warsh, \u0111\u00e2y l\u00e0 m\u1ed9t b\u00e0i ki\u1ec3m tra c\u1ed1t l\u00f5i k\u1ec3 t\u1eeb khi nh\u1eadm ch\u1ee9c: n\u1ebfu th\u00fac \u0111\u1ea9y t\u0103ng l\u00e3i su\u1ea5t, \u00f4ng c\u1ea7n ch\u1ee9ng minh r\u1eb1ng c\u00e1c quy\u1ebft \u0111\u1ecbnh ho\u00e0n to\u00e0n d\u1ef1a tr\u00ean d\u1eef li\u1ec7u l\u1ea1m ph\u00e1t v\u00e0 kh\u00f4ng c\u00f3 s\u1ef1 can thi\u1ec7p ch\u00ednh tr\u1ecb; n\u1ebfu chuy\u1ec3n sang c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t, anh ta c\u1ea7n gi\u1ea3i th\u00edch l\u00fd do t\u1ea1i sao anh ta l\u1ea1i thay \u0111\u1ed5i l\u1eadp tr\u01b0\u1eddng ch\u1ed1ng l\u1ea1m ph\u00e1t \u0111\u01b0\u1ee3c duy tr\u00ec tr\u01b0\u1edbc \u0111\u00e2y.<\/p>\n

Vi\u1ec7c t\u00ecm ki\u1ebfm s\u1ef1 c\u00e2n b\u1eb1ng gi\u1eefa \u00e1p l\u1ef1c ch\u00ednh tr\u1ecb, k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u00e0 uy t\u00edn c\u1ee7a ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng trong vi\u1ec7c ch\u1ed1ng l\u1ea1m ph\u00e1t s\u1ebd r\u1ea5t quan tr\u1ecdng \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh \u0111\u1ed9 tin c\u1eady c\u1ee7a c\u00e1c ch\u00ednh s\u00e1ch c\u1ee7a ng\u00e2n h\u00e0ng n\u00e0y. Nh\u00ecn chung, Ace Markets tin r\u1eb1ng C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang hi\u1ec7n \u0111ang \u1edf m\u1ed9t ng\u00e3 r\u1ebd quan tr\u1ecdng trong chu k\u1ef3 ch\u00ednh s\u00e1ch c\u1ee7a m\u00ecnh, v\u1edbi ba h\u1ea1n ch\u1ebf \u0111an xen, khi\u1ebfn vi\u1ec7c d\u1ef1 \u0111o\u00e1n tuy\u1ebfn t\u00ednh v\u1ec1 s\u1ef1 thay \u0111\u1ed5i ch\u00ednh s\u00e1ch tr\u1edf n\u00ean c\u1ef1c k\u1ef3 r\u1ee7i ro. \u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0, \u0111i\u1ec1u c\u1ea7n thi\u1ebft l\u00e0 ph\u1ea3i t\u1eeb b\u1ecf suy ngh\u0129 c\u1ee9ng nh\u1eafc v\u1ec1 vi\u1ec7c \u0111\u01a1n ph\u01b0\u01a1ng n\u1edbi l\u1ecfng ho\u1eb7c th\u1eaft ch\u1eb7t, theo d\u00f5i ch\u1eb7t ch\u1ebd nh\u1eefng thay \u0111\u1ed5i c\u1eadn bi\u00ean trong d\u1eef li\u1ec7u vi\u1ec7c l\u00e0m v\u00e0 l\u1ea1m ph\u00e1t c\u1ed1t l\u00f5i, \u0111\u1ed3ng th\u1eddi c\u1ea3nh gi\u00e1c v\u1edbi r\u1ee7i ro bi\u1ebfn \u0111\u1ed9ng t\u00e0i s\u1ea3n ch\u00e9o ph\u00e1t sinh t\u1eeb vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t d\u00e0i h\u1ea1n v\u00e0 bi\u1ebfn \u0111\u1ed9ng k\u1ef3 v\u1ecdng ch\u00ednh s\u00e1ch.<\/p>","protected":false},"excerpt":{"rendered":"

Ace Markets ph\u00e2n t\u00edch cu\u1ed9c h\u1ecdp FOMC th\u00e1ng 7 c\u1ee7a Fed, tri\u1ec3n v\u1ecdng l\u1ea1m ph\u00e1t, s\u1ef1 kh\u00f4ng ch\u1eafc ch\u1eafn v\u1ec1 ch\u00ednh s\u00e1ch l\u00e3i su\u1ea5t v\u00e0 r\u1ee7i ro bi\u1ebfn \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng \u0111\u1ed1i v\u1edbi c\u00e1c t\u00e0i s\u1ea3n ch\u00ednh.<\/p>","protected":false},"author":1,"featured_media":9710,"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":[863,862,861],"class_list":["post-9709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-news","tag-fed-fomc-meeting","tag-federal-reserve-interest-rates","tag-july-fed-meeting"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/9709","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=9709"}],"version-history":[{"count":1,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/9709\/revisions"}],"predecessor-version":[{"id":9714,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/9709\/revisions\/9714"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/media\/9710"}],"wp:attachment":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/media?parent=9709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/categories?post=9709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/tags?post=9709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}