{"id":9879,"date":"2026-09-16T08:20:46","date_gmt":"2026-09-16T08:20:46","guid":{"rendered":"https:\/\/www.mdwcc.com\/?p=9879"},"modified":"2026-09-16T08:20:49","modified_gmt":"2026-09-16T08:20:49","slug":"bessant-hearing-insights-a-look-ahead-to-the-feds-september-decision-under-fiscal-constraints","status":"publish","type":"post","link":"https:\/\/www.mdwcc.com\/vi\/bessant-hearing-insights-a-look-ahead-to-the-feds-september-decision-under-fiscal-constraints\/","title":{"rendered":"Th\u00f4ng tin chi ti\u1ebft v\u1ec1 phi\u00ean \u0111i\u1ec1u tr\u1ea7n c\u1ee7a Bessant - C\u00e1i nh\u00ecn v\u1ec1 quy\u1ebft \u0111\u1ecbnh th\u00e1ng 9 c\u1ee7a Fed trong b\u1ed1i c\u1ea3nh h\u1ea1n ch\u1ebf t\u00e0i ch\u00ednh"},"content":{"rendered":"

Khi cu\u1ed9c h\u1ecdp l\u00e3i su\u1ea5t c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang v\u00e0o th\u00e1ng 9 \u0111ang \u0111\u1ebfn g\u1ea7n v\u00e0 d\u1eef li\u1ec7u l\u1ea1m ph\u00e1t CPI th\u00e1ng 8 v\u01b0\u1ee3t qu\u00e1 mong \u0111\u1ee3i, kh\u1ea3 n\u0103ng t\u0103ng l\u00e3i su\u1ea5t c\u1ee7a th\u1ecb tr\u01b0\u1eddng \u0111\u00e3 t\u0103ng l\u00ean nhanh ch\u00f3ng. Tuy nhi\u00ean, nh\u1eefng y\u00eau c\u1ea7u ch\u00ednh tr\u1ecb c\u1ee7a Nh\u00e0 Tr\u1eafng, \u00e1p l\u1ef1c t\u00e0i ch\u00ednh \u0111\u1ed1i v\u1edbi n\u1ee3 c\u1ee7a M\u1ef9 v\u00e0 nguy c\u01a1 li\u00ean k\u1ebft t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i M\u1ef9-Nh\u1eadt c\u00f9ng nhau t\u1ea1o th\u00e0nh m\u00f4i tr\u01b0\u1eddng ra quy\u1ebft \u0111\u1ecbnh ph\u1ee9c t\u1ea1p \u0111\u1ed1i v\u1edbi Ch\u1ee7 t\u1ecbch Fed Warsh. ACE Markets, sau khi t\u00edch h\u1ee3p th\u00f4ng tin t\u1eeb c\u00e1c phi\u00ean \u0111i\u1ec1u tr\u1ea7n qu\u1ed1c h\u1ed9i, d\u1eef li\u1ec7u l\u1ea1m ph\u00e1t, c\u01a1 c\u1ea5u n\u1ee3 t\u00e0i ch\u00ednh v\u00e0 t\u00edn hi\u1ec7u t\u01b0\u01a1ng quan t\u00e0i s\u1ea3n ch\u00e9o, tin r\u1eb1ng m\u00e2u thu\u1eabn c\u1ed1t l\u00f5i c\u1ee7a cu\u1ed9c h\u1ecdp FOMC n\u00e0y v\u01b0\u1ee3t xa \u201cli\u1ec7u \u200b\u200bc\u00f3 n\u00ean t\u0103ng l\u00e3i su\u1ea5t th\u00eam 25 \u0111i\u1ec3m c\u01a1 b\u1ea3n hay kh\u00f4ng\u201d, m\u00e0 l\u00e0 h\u00e0nh \u0111\u1ed9ng c\u00e2n b\u1eb1ng kh\u00f3 kh\u0103n gi\u1eefa uy t\u00edn ch\u00ednh s\u00e1ch c\u1ee7a Fed, nh\u1eefng h\u1ea1n ch\u1ebf ch\u00ednh tr\u1ecb c\u1ee7a chu k\u1ef3 b\u1ea7u c\u1eed v\u00e0 r\u1ee7i ro t\u00e0i ch\u00ednh c\u1ee7a n\u1ee3 M\u1ef9. Quy\u1ebft \u0111\u1ecbnh n\u00e0y s\u1ebd x\u00e1c \u0111\u1ecbnh l\u1ea1i c\u00e1c ti\u00eau chu\u1ea9n \u0111\u1ecbnh gi\u00e1 \u0111\u1ed1i v\u1edbi tr\u00e1i phi\u1ebfu Kho b\u1ea1c Hoa K\u1ef3, \u0111\u1ed3ng \u0111\u00f4 la M\u1ef9 v\u00e0 c\u00e1c t\u00e0i s\u1ea3n r\u1ee7i ro to\u00e0n c\u1ea7u.<\/p>\n

Kho\u1ea3ng c\u00e1ch \u0111\u00e1ng k\u1ec3 gi\u1eefa th\u1ef1c t\u1ebf ch\u00ednh s\u00e1ch t\u00e0i kh\u00f3a v\u00e0 k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng<\/h2>\n

B\u1ed9 tr\u01b0\u1edfng T\u00e0i ch\u00ednh Hoa K\u1ef3 Bessenter \u0111\u00e3 l\u00e0m ch\u1ee9ng tr\u01b0\u1edbc \u1ee6y ban D\u1ecbch v\u1ee5 T\u00e0i ch\u00ednh H\u1ea1 vi\u1ec7n, \u0111\u1ed1i m\u1eb7t v\u1edbi c\u00e1c c\u00e2u h\u1ecfi v\u1ec1 th\u1ecfa thu\u1eadn mua l\u1ea1i Kho b\u1ea1c Hoa K\u1ef3, can thi\u1ec7p ti\u1ec1n t\u1ec7 M\u1ef9-Nh\u1eadt, l\u1ea1m ph\u00e1t v\u00e0 quy \u0111\u1ecbnh v\u1ec1 AI. ACE Markets l\u01b0u \u00fd r\u1eb1ng phi\u00ean \u0111i\u1ec1u tr\u1ea7n n\u00e0y n\u00eau b\u1eadt nhi\u1ec1u m\u00e2u thu\u1eabn \u1edf c\u1ea5p \u0111\u1ed9 kinh t\u1ebf v\u0129 m\u00f4 c\u1ee7a Hoa K\u1ef3, trong \u0111\u00f3 th\u1ecb tr\u01b0\u1eddng th\u01b0\u1eddng ch\u1ec9 t\u1eadp trung v\u00e0o c\u00e1c tuy\u00ean b\u1ed1 c\u00f4ng khai v\u00e0 b\u1ecf qua nh\u1eefng h\u1ea1n ch\u1ebf c\u01a1 b\u1ea3n. V\u1ec1 vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t tr\u00e1i phi\u1ebfu kho b\u1ea1c Hoa K\u1ef3, Bessenter cho r\u1eb1ng nguy\u00ean nh\u00e2n l\u00e0 do c\u00e1c y\u1ebfu t\u1ed1 to\u00e0n c\u1ea7u, \u0111\u1ed3ng th\u1eddi th\u1eeba nh\u1eadn r\u1eb1ng th\u00e2m h\u1ee5t l\u00e0 m\u1ed9t y\u1ebfu t\u1ed1 g\u00f3p ph\u1ea7n quan tr\u1ecdng. \u00d4ng l\u1eadp lu\u1eadn r\u1eb1ng m\u1eb7c d\u00f9 vi\u1ec7c m\u1edf r\u1ed9ng c\u00e1c th\u1ecfa thu\u1eadn mua l\u1ea1i Kho b\u1ea1c kh\u00f4ng l\u00e0m \u0111\u1ea3o ng\u01b0\u1ee3c s\u1ef1 gia t\u0103ng l\u1ee3i su\u1ea5t nh\u01b0ng n\u00f3 ng\u0103n ch\u1eb7n s\u1ef1 suy tho\u00e1i th\u00eam c\u1ee7a th\u1ecb tr\u01b0\u1eddng. Tuy nhi\u00ean, ACE Markets tin r\u1eb1ng c\u00e1c th\u1ecfa thu\u1eadn mua l\u1ea1i ch\u1ec9 c\u1ea3i thi\u1ec7n t\u00ednh thanh kho\u1ea3n m\u1ed9t ch\u00fat v\u00e0 kh\u00f4ng \u0111\u1ee7 \u0111\u1ec3 b\u00f9 \u0111\u1eafp \u00e1p l\u1ef1c t\u0103ng l\u00e3i su\u1ea5t d\u00e0i h\u1ea1n do m\u1edf r\u1ed9ng t\u00e0i ch\u00ednh, gi\u00e1 d\u1ea7u t\u0103ng v\u00e0 c\u1ea1nh tranh v\u1ec1 v\u1ed1n AI.<\/p>\n

\"\u5c40\u90e8\u622a\u53d6_20260916_152958\"<\/p>\n

V\u1ec1 s\u1ef1 can thi\u1ec7p chung gi\u1eefa M\u1ef9 v\u00e0 Nh\u1eadt B\u1ea3n v\u00e0o \u0111\u1ed3ng y\u00ean, Bessant ti\u1ebft l\u1ed9 r\u1eb1ng M\u1ef9 \u0111\u1ea7u t\u01b0 \u00edt h\u01a1n 1 t\u1ef7 USD v\u00e0 thu \u0111\u01b0\u1ee3c l\u1ee3i nhu\u1eadn, v\u1edbi ph\u1ea7n l\u1edbn qu\u1ef9 can thi\u1ec7p \u0111\u1ebfn t\u1eeb Nh\u1eadt B\u1ea3n (96,4 t\u1ef7 USD). Vi\u1ec7c M\u1ef9 tham gia can thi\u1ec7p ph\u1ed1i h\u1ee3p nh\u1eb1m mang l\u1ea1i l\u1ee3i \u00edch cho ho\u1ea1t \u0111\u1ed9ng xu\u1ea5t kh\u1ea9u c\u1ee7a n\u01b0\u1edbc n\u00e0y \u0111\u1ed3ng th\u1eddi gi\u1ea3m nguy c\u01a1 Nh\u1eadt B\u1ea3n b\u00e1n th\u00e1o tr\u00e1i phi\u1ebfu kho b\u1ea1c M\u1ef9. C\u00e1c tuy\u00ean b\u1ed1 v\u1ec1 ch\u00ednh s\u00e1ch ch\u1ee7 y\u1ebfu nh\u1eb1m m\u1ee5c \u0111\u00edch ng\u0103n c\u1ea3n nh\u1eefng ng\u01b0\u1eddi b\u00e1n kh\u1ed1ng; Xu h\u01b0\u1edbng trung v\u00e0 d\u00e0i h\u1ea1n c\u1ee7a \u0111\u1ed3ng y\u00ean v\u1eabn ph\u1ee5 thu\u1ed9c v\u00e0o t\u1ed1c \u0111\u1ed9 t\u0103ng l\u00e3i su\u1ea5t c\u1ee7a Ng\u00e2n h\u00e0ng Nh\u1eadt B\u1ea3n. \u0110\u1ed1i m\u1eb7t v\u1edbi c\u00e1c c\u00e2u h\u1ecfi v\u1ec1 l\u1ea1m ph\u00e1t, Bessant cho r\u1eb1ng v\u1ea5n \u0111\u1ec1 l\u00e0 do ch\u00ednh quy\u1ec1n tr\u01b0\u1edbc \u0111\u00f3, tr\u00edch d\u1eabn d\u1eef li\u1ec7u v\u1ec1 sinh k\u1ebf c\u1ee7a ng\u01b0\u1eddi d\u00e2n \u0111\u1ec3 h\u1ed7 tr\u1ee3 cho hi\u1ec7u qu\u1ea3 kinh t\u1ebf hi\u1ec7n t\u1ea1i. ACE Markets c\u1ea3nh b\u00e1o r\u1eb1ng d\u1eef li\u1ec7u ng\u1eafn h\u1ea1n t\u00edch c\u1ef1c kh\u00f4ng th\u1ec3 lo\u1ea1i b\u1ecf r\u1ee7i ro l\u1ea1m ph\u00e1t do gi\u00e1 d\u1ea7u v\u00e0 th\u00e2m h\u1ee5t t\u00e0i ch\u00ednh g\u00e2y ra; n\u1ebfu kho\u1ea3n tr\u1ee3 c\u1ea5p 5.000 USD m\u00e0 Trump \u0111\u1ec1 xu\u1ea5t cho m\u1ecdi c\u00f4ng d\u00e2n \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n, n\u00f3 s\u1ebd l\u00e0m t\u0103ng th\u00eam r\u1ee7i ro t\u00e0i ch\u00ednh v\u00e0 l\u00e3i su\u1ea5t. T\u1ea1i phi\u00ean \u0111i\u1ec1u tr\u1ea7n, B\u1ed9 T\u00e0i ch\u00ednh c\u0169ng b\u00e1c b\u1ecf r\u00f5 r\u00e0ng quy\u1ec1n mi\u1ec5n tr\u1eeb tr\u00e1ch nhi\u1ec7m ph\u00e1p l\u00fd c\u1ee7a ph\u00f2ng th\u00ed nghi\u1ec7m AI; nh\u1eefng thay \u0111\u1ed5i trong quy \u0111\u1ecbnh v\u1ec1 AI s\u1ebd gi\u00e1n ti\u1ebfp \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn d\u00f2ng v\u1ed1n v\u00e0 b\u1ed1i c\u1ea3nh c\u1ea1nh tranh c\u1ee7a tr\u00e1i phi\u1ebfu kho b\u1ea1c Hoa K\u1ef3.<\/p>\n

L\u1ea1m ph\u00e1t v\u01b0\u1ee3t qu\u00e1 mong \u0111\u1ee3i v\u00e0 \u00e1p l\u1ef1c di\u1ec1u h\u00e2u trong C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang ti\u1ebfp t\u1ee5c gia t\u0103ng.<\/h2>\n

Sau khi c\u00f4ng b\u1ed1 d\u1eef li\u1ec7u CPI th\u00e1ng 8, c\u1ea3 l\u1ea1m ph\u00e1t chung v\u00e0 l\u1ea1m ph\u00e1t c\u01a1 b\u1ea3n \u0111\u1ec1u v\u01b0\u1ee3t qu\u00e1 k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng, v\u1edbi s\u1ef1 ph\u1ee5c h\u1ed3i c\u1ee7a gi\u00e1 n\u0103ng l\u01b0\u1ee3ng l\u00e0 \u0111\u1ed9ng l\u1ef1c ch\u00ednh. Th\u1ecb tr\u01b0\u1eddng t\u01b0\u01a1ng lai l\u00e3i su\u1ea5t \u0111\u1ecbnh gi\u00e1 x\u00e1c su\u1ea5t t\u0103ng l\u00e3i su\u1ea5t trong th\u00e1ng 9 l\u00e0 tr\u00ean 85%, v\u00e0 m\u1ed9t s\u1ed1 giao d\u1ecbch th\u1eadm ch\u00ed c\u00f2n b\u1eaft \u0111\u1ea7u \u0111\u1ecbnh gi\u00e1 kh\u1ea3 n\u0103ng t\u0103ng l\u00e3i su\u1ea5t nhi\u1ec1u l\u1ea7n v\u00e0o cu\u1ed1i n\u0103m nay.<\/p>\n

Ph\u00e2n t\u00edch c\u1ee7a ACE Markets cho th\u1ea5y nhi\u1ec1u nh\u00e0 ph\u00e2n t\u00edch th\u1ecb tr\u01b0\u1eddng c\u00f3 xu h\u01b0\u1edbng \u0111\u01a1n gi\u1ea3n xem vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t l\u00e0 m\u1ed9t ph\u1ea3n \u1ee9ng th\u1ee5 \u0111\u1ed9ng tr\u01b0\u1edbc d\u1eef li\u1ec7u l\u1ea1m ph\u00e1t, \u0111\u00e1nh gi\u00e1 th\u1ea5p t\u1ea7m quan tr\u1ecdng c\u1ee7a \u0111\u1ed9 tin c\u1eady ch\u00ednh s\u00e1ch c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang. T\u1ea1i cu\u1ed9c h\u1ecdp FOMC th\u00e1ng 7, ba th\u00e0nh vi\u00ean ph\u1ea3n \u0111\u1ed1i duy tr\u00ec l\u00e3i su\u1ea5t, c\u00f4ng khai b\u1ed9c l\u1ed9 nh\u1eefng b\u1ea5t \u0111\u1ed3ng ch\u00ednh s\u00e1ch n\u1ed9i b\u1ed9. N\u1ebfu l\u1ea1m ph\u00e1t t\u0103ng tr\u1edf l\u1ea1i \u0111\u00e1ng k\u1ec3 trong th\u00e1ng 8 v\u00e0 Fed ch\u1ecdn gi\u1eef nguy\u00ean, \u0111i\u1ec1u n\u00e0y s\u1ebd g\u00e2y t\u1ed5n h\u1ea1i nghi\u00eam tr\u1ecdng \u0111\u1ebfn uy t\u00edn c\u1ee7a h\u1ecd trong vi\u1ec7c ch\u1ed1ng l\u1ea1m ph\u00e1t, d\u1eabn \u0111\u1ebfn s\u1ef1 \u0111\u1ed3ng thu\u1eadn tr\u00ean th\u1ecb tr\u01b0\u1eddng r\u1eb1ng Fed \u201cc\u1ee9ng r\u1eafn trong l\u1eddi n\u00f3i nh\u01b0ng th\u1eadn tr\u1ecdng trong h\u00e0nh \u0111\u1ed9ng\u201d, khi\u1ebfn vi\u1ec7c th\u1eaft ch\u1eb7t th\u00eam ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 tr\u1edf n\u00ean t\u1ed1n k\u00e9m h\u01a1n.<\/p>\n

\"\u5c40\u90e8\u622a\u53d6_20260916_151910\"<\/p>\n

T\u1ea5t nhi\u00ean, \u0111i\u1ec1u n\u00e0y kh\u00f4ng c\u00f3 ngh\u0129a l\u00e0 t\u0103ng l\u00e3i su\u1ea5t l\u00e0 m\u1ed9t l\u1ef1a ch\u1ecdn kh\u00f4ng t\u1ed1n k\u00e9m. Vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t s\u1ebd l\u00e0m t\u0103ng th\u00eam chi ph\u00ed t\u00e0i ch\u00ednh v\u00e0 g\u00e1nh n\u1eb7ng l\u00e3i su\u1ea5t \u0111\u1ed1i v\u1edbi c\u00e1c kho\u1ea3n th\u1ebf ch\u1ea5p, kho\u1ea3n vay doanh nghi\u1ec7p c\u1ee7a c\u00e1c h\u1ed9 gia \u0111\u00ecnh M\u1ef9 v\u00e0 n\u1ee3 c\u1ee7a ch\u00ednh ph\u1ee7 li\u00ean bang c\u0169ng s\u1ebd t\u0103ng theo. Chi ph\u00ed \u1ea9n n\u00e0y th\u01b0\u1eddng b\u1ecb b\u1ecf qua b\u1edfi nh\u1eefng c\u00e1ch gi\u1ea3i th\u00edch h\u1eddi h\u1ee3t m\u00e0 ch\u1ec9 t\u1eadp trung v\u00e0o s\u1ed1 li\u1ec7u l\u1ea1m ph\u00e1t.<\/p>\n

Chu k\u1ef3 b\u1ea7u c\u1eed Nh\u00e0 Tr\u1eafng mang l\u1ea1i nh\u1eefng h\u1ea1n ch\u1ebf ch\u00ednh tr\u1ecb kh\u00f4ng th\u1ec3 ph\u1ee7 nh\u1eadn.<\/h2>\n

Ch\u1ec9 c\u00f2n ch\u01b0a \u0111\u1ea7y hai th\u00e1ng n\u1eefa l\u00e0 \u0111\u1ebfn cu\u1ed9c b\u1ea7u c\u1eed gi\u1eefa nhi\u1ec7m k\u1ef3 c\u1ee7a Hoa K\u1ef3, l\u1ea1m ph\u00e1t cao v\u00e0 chi ph\u00ed sinh ho\u1ea1t cao \u0111\u00e3 tr\u1edf th\u00e0nh m\u1ed1i lo ng\u1ea1i l\u1edbn \u0111\u1ed1i v\u1edbi c\u1eed tri v\u00e0 Nh\u00e0 Tr\u1eafng \u0111\u00e3 c\u00f4ng khai b\u00e0y t\u1ecf mong mu\u1ed1n v\u1ec1 m\u1ed9t m\u00f4i tr\u01b0\u1eddng l\u00e3i su\u1ea5t th\u1ea5p. ACE Markets nh\u1eadn th\u1ea5y m\u1ed9t t\u00ecnh hu\u1ed1ng t\u1ebf nh\u1ecb: b\u1ec1 ngo\u00e0i, C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang b\u00e0y t\u1ecf s\u1ef1 t\u00f4n tr\u1ecdng t\u00ednh \u0111\u1ed9c l\u1eadp c\u1ee7a m\u00ecnh, nh\u01b0ng l\u1ea1i tr\u1ef1c ti\u1ebfp b\u00e0y t\u1ecf s\u1ef1 ph\u1ea3n \u0111\u1ed1i vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t. Warsh li\u00ean l\u1ea1c v\u1edbi Nh\u00e0 Tr\u1eafng th\u01b0\u1eddng xuy\u00ean h\u01a1n tr\u01b0\u1edbc, \u0111i\u1ec1u n\u00e0y c\u00f3 th\u1ec3 gi\u1ea3m thi\u1ec3u xung \u0111\u1ed9t tr\u1ef1c ti\u1ebfp, nh\u01b0ng kh\u00f4ng th\u1ec3 lo\u1ea1i b\u1ecf nh\u1eefng h\u1ea1n ch\u1ebf ch\u00ednh tr\u1ecb kh\u00e1ch quan. \u0110\u1ed1i v\u1edbi Ch\u1ee7 t\u1ecbch Fed, vi\u1ec7c tu\u00e2n theo c\u00e1c y\u00eau c\u1ea7u c\u1ee7a ch\u00ednh quy\u1ec1n s\u1ebd l\u00e0m t\u1ed5n h\u1ea1i \u0111\u1ebfn t\u00ednh \u0111\u1ed9c l\u1eadp l\u00e2u d\u00e0i c\u1ee7a Fed; tuy nhi\u00ean, c\u00e1ch ti\u1ebfp c\u1eadn c\u1ee9ng r\u1eafn li\u00ean t\u1ee5c \u0111\u1ed1i v\u1edbi vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t s\u1ebd l\u00e0m tr\u1ea7m tr\u1ecdng th\u00eam c\u0103ng th\u1eb3ng v\u1edbi Nh\u00e0 Tr\u1eafng trong chu k\u1ef3 b\u1ea7u c\u1eed. Do \u0111\u00f3, ch\u00fang t\u00f4i tin r\u1eb1ng c\u00e1ch ti\u1ebfp c\u1eadn t\u1ed1i \u01b0u c\u1ee7a Warsh kh\u00f3 c\u00f3 th\u1ec3 c\u1ef1c \u0111oan; \u00f4ng ta c\u1ea7n t\u00ecm s\u1ef1 c\u00e2n b\u1eb1ng gi\u1eefa uy t\u00edn l\u00e2u d\u00e0i c\u1ee7a th\u1ec3 ch\u1ebf v\u00e0 th\u1ef1c t\u1ebf ch\u00ednh tr\u1ecb ng\u1eafn h\u1ea1n.<\/p>\n

L\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu kho b\u1ea1c M\u1ef9 g\u1ea7n 5%: ng\u01b0\u1ee1ng t\u00e2m l\u00fd c\u1ee7a l\u1ea1m ph\u00e1t v\u00e0 r\u1ee7i ro \u0111\u1ecbnh gi\u00e1 k\u00e9p c\u1ee7a ch\u00ednh s\u00e1ch t\u00e0i kh\u00f3a.<\/h2>\n

L\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu kho b\u1ea1c M\u1ef9 k\u1ef3 h\u1ea1n 10 n\u0103m \u0111ang ti\u1ebfn g\u1ea7n \u0111\u1ebfn m\u1ee9c t\u00e2m l\u00fd quan tr\u1ecdng l\u00e0 5%. ACE Markets c\u1ea3nh b\u00e1o r\u1eb1ng 5% kh\u00f4ng ch\u1ec9 l\u00e0 ng\u01b0\u1ee1ng t\u00e2m l\u00fd; n\u00f3 \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 b\u1edfi hai l\u1ef1c l\u01b0\u1ee3ng c\u01a1 c\u1ea5u: ch\u00ednh s\u00e1ch t\u00e0i kh\u00f3a v\u00e0 l\u1ea1m ph\u00e1t. Th\u00e2m h\u1ee5t li\u00ean bang c\u1ee7a M\u1ef9 ti\u1ebfp t\u1ee5c gia t\u0103ng, v\u1edbi t\u1ed5ng n\u1ee3 ch\u00ednh ph\u1ee7 v\u01b0\u1ee3t qu\u00e1 40 ngh\u00ecn t\u1ef7 USD v\u00e0 n\u1ee3 c\u00f4ng l\u00ean t\u1edbi 100% GDP. Bessant \u0111\u1ec1 xu\u1ea5t chi\u1ebfn l\u01b0\u1ee3c gi\u1ea3i quy\u1ebft n\u1ee3 th\u00f4ng qua t\u0103ng tr\u01b0\u1edfng cao, hy v\u1ecdng r\u1eb1ng \u0111\u1ea7u t\u01b0 v\u00e0o AI, ho\u1ea1t \u0111\u1ed9ng s\u1ea3n xu\u1ea5t tr\u1edf l\u1ea1i v\u00e0 c\u1eaft gi\u1ea3m thu\u1ebf s\u1ebd th\u00fac \u0111\u1ea9y n\u1ec1n kinh t\u1ebf. Tuy nhi\u00ean, nh\u1eefng h\u1ea1n ch\u1ebf th\u1ef1c s\u1ef1 l\u00e0 r\u1ea5t m\u1ea1nh. Trong nh\u1eefng n\u0103m g\u1ea7n \u0111\u00e2y, t\u1ed1c \u0111\u1ed9 t\u0103ng tr\u01b0\u1edfng GDP th\u1ef1c t\u1ebf th\u1ea5p h\u01a1n \u0111\u00e1ng k\u1ec3 so v\u1edbi m\u1ee5c ti\u00eau 3%. C\u01a1 c\u1ea5u d\u00e2n s\u1ed1 v\u00e0 chi ti\u00eau an sinh x\u00e3 h\u1ed9i c\u1ee9ng nh\u1eafc \u0111ang k\u00ecm h\u00e3m t\u0103ng tr\u01b0\u1edfng ti\u1ec1m n\u0103ng, g\u00e2y kh\u00f3 kh\u0103n cho vi\u1ec7c gi\u1ea3i quy\u1ebft v\u1ea5n \u0111\u1ec1 th\u00e2m h\u1ee5t dai d\u1eb3ng ch\u1ec9 th\u00f4ng qua t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf.<\/p>\n

\"\u5c40\u90e8\u622a\u53d6_20260916_152732\"<\/p>\n

\u0110i\u1ec1u n\u00e0y t\u1ea1o ra m\u1ed9t v\u00f2ng ph\u1ea3n h\u1ed3i ti\u00eau c\u1ef1c: n\u1ebfu C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang ti\u1ebfp t\u1ee5c th\u1eaft ch\u1eb7t, l\u1ee3i su\u1ea5t d\u00e0i h\u1ea1n s\u1ebd t\u0103ng, c\u00e1c kho\u1ea3n thanh to\u00e1n l\u00e3i su\u1ea5t c\u1ee7a ch\u00ednh ph\u1ee7 s\u1ebd m\u1edf r\u1ed9ng, l\u00e0m t\u0103ng th\u00eam th\u00e2m h\u1ee5t t\u00e0i ch\u00ednh, t\u1eeb \u0111\u00f3 s\u1ebd \u0111\u1ea9y l\u1ea1m ph\u00e1t v\u00e0 l\u00e3i su\u1ea5t Kho b\u1ea1c l\u00ean cao. \u0110\u00e2y l\u00e0 h\u1ea1n ch\u1ebf th\u1ef1c s\u1ef1 m\u00e0 th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu \u0111\u1eb7t l\u00ean C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang v\u00e0 l\u00e0 y\u1ebfu t\u1ed1 then ch\u1ed1t m\u00e0 Warsh ph\u1ea3i c\u00e2n nh\u1eafc khi \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh. Nhi\u1ec1u b\u00ecnh lu\u1eadn th\u1ecb tr\u01b0\u1eddng ch\u1ec9 th\u1ea3o lu\u1eadn v\u1ec1 l\u1ea1m ph\u00e1t m\u00e0 b\u1ecf qua h\u1ea1n ch\u1ebf t\u00e0i ch\u00ednh n\u00e0y.<\/p>\n

K\u1ecbch b\u1ea3n \u0111i\u1ec3m chu\u1ea9n v\u00e0 \u00fd ngh\u0129a c\u1ee7a lo\u1ea1i t\u00e0i s\u1ea3n<\/h2>\n

Xem x\u00e9t c\u00e1c s\u1ed1 li\u1ec7u l\u1ea1m ph\u00e1t, s\u1ef1 chia r\u1ebd n\u1ed9i b\u1ed9 trong C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang, c\u00e1c y\u00eau c\u1ea7u ch\u00ednh tr\u1ecb t\u1eeb Nh\u00e0 Tr\u1eafng v\u00e0 \u00e1p l\u1ef1c t\u00e0i ch\u00ednh \u0111\u1ed1i v\u1edbi tr\u00e1i phi\u1ebfu Kho b\u1ea1c Hoa K\u1ef3, ch\u00fang t\u00f4i tin r\u1eb1ng vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t 25 \u0111i\u1ec3m c\u01a1 b\u1ea3n trong th\u00e1ng 9 v\u1eabn l\u00e0 k\u1ecbch b\u1ea3n c\u01a1 b\u1ea3n. Tuy nhi\u00ean, r\u1ea5t c\u00f3 th\u1ec3 s\u1ebd c\u00f3 m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c c\u00e2n b\u1eb1ng \u201ch\u00e0nh \u0111\u1ed9ng di\u1ec1u h\u00e2u, h\u01b0\u1edbng d\u1eabn \u00f4n h\u00f2a\u201d: s\u1eed d\u1ee5ng vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t \u0111\u1ec3 b\u1ea3o v\u1ec7 \u0111\u1ed9 tin c\u1eady c\u1ee7a c\u00e1c bi\u1ec7n ph\u00e1p ch\u1ed1ng l\u1ea1m ph\u00e1t v\u00e0 xoa d\u1ecbu nh\u1eefng ng\u01b0\u1eddi di\u1ec1u h\u00e2u trong n\u01b0\u1edbc; \u0111\u1ed3ng th\u1eddi duy tr\u00ec ng\u00f4n t\u1eeb th\u1eadn tr\u1ecdng trong cu\u1ed9c h\u1ecdp b\u00e1o, nh\u1ea5n m\u1ea1nh s\u1ef1 ph\u1ee5 thu\u1ed9c v\u00e0o d\u1eef li\u1ec7u ch\u00ednh s\u00e1ch v\u00e0 h\u1ea1 th\u1ea5p k\u1ef3 v\u1ecdng v\u1ec1 vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t ti\u1ebfp theo, t\u1eeb \u0111\u00f3 c\u00e2n b\u1eb1ng \u00e1p l\u1ef1c ch\u00ednh tr\u1ecb v\u00e0 ng\u0103n ch\u1eb7n s\u1ef1 gia t\u0103ng ch\u00f3ng m\u1eb7t c\u1ee7a l\u00e3i su\u1ea5t Kho b\u1ea1c Hoa K\u1ef3.<\/p>\n

Khi n\u00f3i \u0111\u1ebfn c\u00e1c lo\u1ea1i t\u00e0i s\u1ea3n ch\u00ednh, ch\u00fang t\u00f4i r\u00fat ra ba k\u1ebft lu\u1eadn:<\/p>\n

    \n
  1. Kho b\u1ea1c Hoa K\u1ef3: <\/strong>L\u1ee3i su\u1ea5t ng\u1eafn h\u1ea1n \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi l\u00e3i su\u1ea5t t\u0103ng, trong khi l\u1ee3i su\u1ea5t d\u00e0i h\u1ea1n b\u1ecb k\u00e9o theo c\u1ea3 h\u01b0\u1edbng d\u1eabn \u00f4n h\u00f2a v\u00e0 \u00e1p l\u1ef1c t\u00e0i ch\u00ednh. M\u1ed1c 5% cho tr\u00e1i phi\u1ebfu kho b\u1ea1c k\u1ef3 h\u1ea1n 10 n\u0103m s\u1ebd li\u00ean t\u1ee5c b\u1ecb tranh ch\u1ea5p, kh\u00f3 c\u00f3 kh\u1ea3 n\u0103ng \u0111\u1ed9t ph\u00e1 m\u1ed9t chi\u1ec1u trong ng\u1eafn h\u1ea1n, nh\u01b0ng t\u00e2m bi\u1ebfn \u0111\u1ed9ng l\u00e3i su\u1ea5t c\u1ea5p cao \u0111\u00e3 \u0111\u01b0\u1ee3c n\u00e2ng l\u00ean m\u1ed9t c\u00e1ch c\u00f3 h\u1ec7 th\u1ed1ng.<\/li>\n
  2. Ch\u1ec9 s\u1ed1 \u0110\u00f4 la M\u1ef9: <\/strong>Kh\u1ea3 n\u0103ng cao x\u1ea3y ra k\u1ecbch b\u1ea3n \u201cmua tin \u0111\u1ed3n, b\u00e1n s\u1ef1 th\u1eadt\u201d v\u00e0 s\u1ebd v\u1eabn m\u1ea1nh tr\u01b0\u1edbc khi vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n; sau quy\u1ebft \u0111\u1ecbnh n\u00e0y, \u0111\u1ed3ng \u0111\u00f4 la c\u00f3 th\u1ec3 ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi \u00e1p l\u1ef1c gi\u1ea3m gi\u00e1 do h\u01b0\u1edbng d\u1eabn \u00f4n h\u00f2a v\u1ec1 ph\u00eda tr\u01b0\u1edbc v\u00e0 \u0111\u1ed3ng y\u00ean ti\u1ebfp t\u1ee5c m\u1ea1nh l\u00ean.<\/li>\n
  3. Th\u1ecb tr\u01b0\u1eddng c\u1ed5 phi\u1ebfu: <\/strong>R\u1ee7i ro bi\u1ebfn \u0111\u1ed9ng t\u1ed5ng th\u1ec3 l\u00e0 cao tr\u01b0\u1edbc khi vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t c\u00f3 hi\u1ec7u l\u1ef1c. L\u0129nh v\u1ef1c c\u00f4ng ngh\u1ec7 v\u00e0 AI \u0111ang ch\u1ecbu \u00e1p l\u1ef1c k\u00e9p: m\u1ed9t m\u1eb7t, l\u00e3i su\u1ea5t d\u00e0i h\u1ea1n cao \u0111ang c\u1ea3n tr\u1edf vi\u1ec7c \u0111\u1ecbnh gi\u00e1, m\u1eb7t kh\u00e1c, \u0111\u1ed3ng y\u00ean m\u1ea1nh l\u00ean c\u00f3 th\u1ec3 d\u1eabn \u0111\u1ebfn vi\u1ec7c tho\u00e1i lui t\u1eadp trung c\u00e1c v\u1ecb th\u1ebf kinh doanh ch\u00eanh l\u1ec7ch gi\u00e1. N\u1ebfu cu\u1ed9c h\u1ecdp \u0111\u01b0a ra h\u01b0\u1edbng d\u1eabn \u00f4n h\u00f2a \u0111\u00e1ng k\u1ec3, s\u1ebd c\u00f3 c\u01a1 h\u1ed9i ph\u1ee5c h\u1ed3i sau khi c\u00e1c y\u1ebfu t\u1ed1 ti\u00eau c\u1ef1c \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 \u0111\u1ea7y \u0111\u1ee7.<\/li>\n<\/ol>","protected":false},"excerpt":{"rendered":"

    Discover how the Fed’s September rate decision balances inflation credibility, White House politics, and US fiscal risks, and what it means for Treasuries, the dollar, and equities.<\/p>","protected":false},"author":1,"featured_media":9880,"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":[955,954,956],"class_list":["post-9879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-news","tag-interest-rate-hike-impact-stocks","tag-us-japan-currency-intervention","tag-white-house-fed-politics"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/9879","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=9879"}],"version-history":[{"count":1,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/9879\/revisions"}],"predecessor-version":[{"id":9884,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/posts\/9879\/revisions\/9884"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/media\/9880"}],"wp:attachment":[{"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/media?parent=9879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/categories?post=9879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mdwcc.com\/vi\/wp-json\/wp\/v2\/tags?post=9879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}