K\u1ebf ho\u1ea1ch c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang v\u1eabn \u0111i \u0111\u00fang h\u01b0\u1edbng, th\u00fac \u0111\u1ea9y tri\u1ec3n v\u1ecdng c\u1ee7a ti\u1ec1n \u0111i\u1ec7n t\u1eed v\u00e0 c\u00e1c t\u00e0i s\u1ea3n r\u1ee7i ro kh\u00e1c. C\u00e1c b\u00e1o c\u00e1o l\u1ea1m ph\u00e1t g\u1ea7n \u0111\u00e2y kh\u00f4ng l\u00e0m thay \u0111\u1ed5i chu k\u1ef3 n\u1edbi l\u1ecfng c\u1ee7a ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng. B\u1ea5t ch\u1ea5p m\u1ed1i lo ng\u1ea1i c\u1ee7a m\u1ed9t s\u1ed1 nh\u00e0 ph\u00e2n t\u00edch, b\u1ee9c tranh to\u00e0n c\u1ea3nh cho th\u1ea5y l\u1ea1m ph\u00e1t \u0111ang ch\u1eadm l\u1ea1i, t\u1ea1o \u0111i\u1ec1u ki\u1ec7n cho Fed h\u1ea1 l\u00e3i su\u1ea5t v\u00e0o n\u0103m t\u1edbi.<\/p>\n\n
Trong v\u00e0i tu\u1ea7n g\u1ea7n \u0111\u00e2y, l\u1ee3i t\u1ee9c tr\u00e1i phi\u1ebfu Kho b\u1ea1c M\u1ef9 k\u1ef3 h\u1ea1n 10 n\u0103m \u0111\u00e3 t\u0103ng t\u1eeb 3,6% l\u00ean 4,1%. \u0110i\u1ec1u n\u00e0y x\u1ea3y ra do c\u00e1c nh\u00e0 qu\u1ea3n l\u00fd qu\u1ef9 \u0111\u1ecbnh l\u01b0\u1ee3ng \u0111\u00e3 chuy\u1ec3n h\u01b0\u1edbng \u0111\u1ea7u t\u01b0 c\u1ee7a h\u1ecd. H\u1ecd \u0111\u00e3 chuy\u1ec3n kh\u1ecfi c\u00e1c t\u00e0i s\u1ea3n c\u00f3 thu nh\u1eadp c\u1ed1 \u0111\u1ecbnh nh\u01b0 tr\u00e1i phi\u1ebfu sang c\u1ed5 phi\u1ebfu. Khi h\u1ecd b\u00e1n tr\u00e1i phi\u1ebfu, gi\u00e1 tr\u00e1i phi\u1ebfu gi\u1ea3m v\u00e0 l\u1ee3i su\u1ea5t t\u0103ng. S\u1ef1 lu\u00e2n chuy\u1ec3n n\u00e0y cho th\u1ea5y s\u1ef1 t\u1ef1 tin v\u00e0o th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n b\u1ea5t ch\u1ea5p l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu t\u0103ng.<\/p>\n\n
Nh\u1eefng ng\u01b0\u1eddi bi quan tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n \u0111ang c\u1ed1 g\u1eafng thuy\u1ebft ph\u1ee5c c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 r\u1eb1ng c\u1ed5 phi\u1ebfu kh\u00f4ng th\u1ec3 ti\u1ebfp t\u1ee5c t\u0103ng. H\u1ecd t\u1eadp trung v\u00e0o d\u1eef li\u1ec7u ng\u1eafn h\u1ea1n v\u00e0 b\u1ecf qua c\u00e1c xu h\u01b0\u1edbng d\u00e0i h\u1ea1n. H\u1ecd ch\u1ec9 ra m\u1ee9c t\u0103ng cao h\u01a1n c\u1ee7a ch\u1ec9 s\u1ed1 gi\u00e1 ti\u00eau d\u00f9ng (CPI) v\u00e0 m\u1ee9c t\u0103ng ti\u1ec1n l\u01b0\u01a1ng m\u1ea1nh l\u00e0 l\u00fd do khi\u1ebfn C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang kh\u00f4ng th\u1ec3 c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t. Nh\u01b0ng nh\u1eefng l\u1eadp lu\u1eadn n\u00e0y kh\u00f4ng xem x\u00e9t xu h\u01b0\u1edbng l\u1ea1m ph\u00e1t chung, v\u1ed1n \u0111ang h\u01b0\u1edbng t\u1edbi m\u1ee9c tr\u01b0\u1edbc \u0111\u1ea1i d\u1ecbch.<\/p>\n\n
C\u1ee5c Th\u1ed1ng k\u00ea Lao \u0111\u1ed9ng Hoa K\u1ef3 b\u00e1o c\u00e1o r\u1eb1ng m\u1ee9c t\u0103ng CPI c\u1ee7a th\u00e1ng 9 l\u00e0 2,4%, cao h\u01a1n m\u1ed9t ch\u00fat so v\u1edbi m\u1ee9c d\u1ef1 ki\u1ebfn \u200b\u200bl\u00e0 2,3%. M\u1eb7c d\u00f9 \u0111i\u1ec1u n\u00e0y c\u00f3 v\u1ebb \u0111\u00e1ng th\u1ea5t v\u1ecdng, nh\u01b0ng v\u1eabn th\u1ea5p h\u01a1n m\u1ee9c t\u0103ng 2,5% c\u1ee7a th\u00e1ng 8. Tr\u00ean th\u1ef1c t\u1ebf, m\u1ee9c t\u0103ng CPI c\u1ee7a th\u00e1ng 9 l\u00e0 m\u1ee9c th\u1ea5p nh\u1ea5t k\u1ec3 t\u1eeb th\u00e1ng 2 n\u0103m 2021. \u0110i\u1ec1u n\u00e0y cho th\u1ea5y l\u1ea1m ph\u00e1t \u0111ang gi\u1ea3m, m\u1eb7c d\u00f9 kh\u00f4ng nhanh nh\u01b0 m\u1ed9t s\u1ed1 nh\u00e0 kinh t\u1ebf d\u1ef1 \u0111o\u00e1n.<\/p>\n\n
Khi ch\u00fang ta xem x\u00e9t xu h\u01b0\u1edbng t\u0103ng tr\u01b0\u1edfng h\u00e0ng th\u00e1ng tr\u00ean c\u01a1 s\u1edf h\u00e0ng qu\u00fd, m\u1ed9t m\u00f4 h\u00ecnh r\u00f5 r\u00e0ng s\u1ebd xu\u1ea5t hi\u1ec7n. T\u1eeb th\u00e1ng 1 \u0111\u1ebfn th\u00e1ng 3, CPI t\u0103ng trung b\u00ecnh 0,6% m\u1ed7i th\u00e1ng. T\u1eeb th\u00e1ng 4 \u0111\u1ebfn th\u00e1ng 6, m\u1ee9c t\u0103ng h\u00e0ng th\u00e1ng l\u00e0 0,3%. Trong ba th\u00e1ng qua, m\u1ee9c t\u0103ng \u0111\u00e3 \u1ed5n \u0111\u1ecbnh \u1edf m\u1ee9c kho\u1ea3ng 0,1% m\u1ed7i th\u00e1ng. S\u1ef1 ch\u1eadm l\u1ea1i \u0111\u1ec1u \u0111\u1eb7n n\u00e0y cho th\u1ea5y \u00e1p l\u1ef1c l\u1ea1m ph\u00e1t \u0111ang gi\u1ea3m theo th\u1eddi gian.<\/p>\n\n
Trong v\u00e0i n\u0103m qua, l\u1ea1m ph\u00e1t c\u00f3 xu h\u01b0\u1edbng t\u0103ng cao h\u01a1n trong n\u1eeda \u0111\u1ea7u n\u0103m, sau \u0111\u00f3 ch\u1eadm l\u1ea1i trong n\u1eeda cu\u1ed1i n\u0103m. Trong qu\u00fd IV n\u0103m 2022, kh\u00f4ng c\u00f3 s\u1ef1 t\u0103ng tr\u01b0\u1edfng l\u1ea1m ph\u00e1t; tr\u00ean th\u1ef1c t\u1ebf, CPI \u0111\u00e3 gi\u1ea3m. M\u00f4 h\u00ecnh n\u00e0y cho th\u1ea5y m\u1ee9c t\u0103ng tr\u01b0\u1edfng l\u1ea1m ph\u00e1t c\u00f3 th\u1ec3 ch\u1eadm h\u01a1n n\u1eefa trong ba th\u00e1ng t\u1edbi. Khi ch\u00fang ta tho\u00e1t kh\u1ecfi nh\u1eefng t\u00e1c \u0111\u1ed9ng c\u1ee7a g\u00f3i k\u00edch th\u00edch kinh t\u1ebf do COVID, c\u00e1c xu h\u01b0\u1edbng kinh t\u1ebf s\u1ebd tr\u1edf l\u1ea1i b\u00ecnh th\u01b0\u1eddng.<\/p>\n\n
Tr\u01b0\u1edbc \u0111\u1ea1i d\u1ecbch, t\u1eeb n\u0103m 2009 \u0111\u1ebfn n\u0103m 2019, l\u1ea1m ph\u00e1t ch\u1ec9 t\u0103ng h\u01a1n 0,15% m\u1ed7i th\u00e1ng. Trong n\u0103m 2021 v\u00e0 2022, khi l\u1ea1m ph\u00e1t t\u0103ng v\u1ecdt, m\u1ee9c t\u0103ng tr\u01b0\u1edfng trung b\u00ecnh h\u00e0ng th\u00e1ng l\u00e0 0,6% ho\u1eb7c kho\u1ea3ng 7,2% m\u1ed7i n\u0103m. Trong n\u0103m 2023, m\u1ee9c t\u0103ng tr\u01b0\u1edfng trung b\u00ecnh theo th\u00e1ng \u0111\u00e3 ch\u1eadm l\u1ea1i \u1edf m\u1ee9c 0,3%, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng 3,6% t\u00ednh theo n\u0103m. Theo s\u1ed1 li\u1ec7u n\u0103m \u0111\u1ebfn nay, m\u1ee9c t\u0103ng trung b\u00ecnh l\u00e0 0,2%, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng 2,4% t\u00ednh theo n\u0103m. Nh\u1eefng con s\u1ed1 n\u00e0y cho th\u1ea5y xu h\u01b0\u1edbng l\u1ea1m ph\u00e1t \u0111ang quay tr\u1edf l\u1ea1i m\u1ee9c tr\u01b0\u1edbc \u0111\u1ea1i d\u1ecbch.<\/p>\n\n
D\u1ef1a tr\u00ean c\u00e1c xu h\u01b0\u1edbng n\u00e0y, l\u1ea1m ph\u00e1t c\u00f3 th\u1ec3 gi\u1ea3m xu\u1ed1ng d\u01b0\u1edbi m\u1ee5c ti\u00eau 2% c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang s\u1edbm nh\u1ea5t l\u00e0 v\u00e0o th\u00e1ng 2. N\u1ebfu \u0111i\u1ec1u n\u00e0y x\u1ea3y ra, Fed s\u1ebd \u0111\u1ea1t \u0111\u01b0\u1ee3c m\u1ed9t trong nh\u1eefng m\u1ee5c ti\u00eau ch\u00ednh c\u1ee7a m\u00ecnh k\u1ec3 t\u1eeb khi b\u1eaft \u0111\u1ea7u t\u0103ng l\u00e3i su\u1ea5t v\u00e0o th\u00e1ng 3 n\u0103m 2022. \u0110i\u1ec1u n\u00e0y t\u1ea1o \u0111i\u1ec1u ki\u1ec7n cho ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng h\u1ea1 l\u00e3i su\u1ea5t tr\u1edf l\u1ea1i m\u1ee9c b\u00ecnh th\u01b0\u1eddng h\u01a1n, h\u1ed7 tr\u1ee3 cho s\u1ef1 t\u0103ng tr\u01b0\u1edfng \u1ed5n \u0111\u1ecbnh c\u1ee7a c\u00e1c t\u00e0i s\u1ea3n r\u1ee7i ro nh\u01b0 ti\u1ec1n \u0111i\u1ec7n t\u1eed.<\/p>\n\n
M\u1ed9t y\u1ebfu t\u1ed1 quan tr\u1ecdng kh\u00e1c l\u00e0 s\u1ef1 ch\u00eanh l\u1ec7ch gi\u1eefa m\u1ee9c l\u00e3i su\u1ea5t qu\u1ef9 li\u00ean bang hi\u1ec7u qu\u1ea3 v\u00e0 m\u1ee9c t\u0103ng CPI h\u00e0ng n\u0103m. Hi\u1ec7n t\u1ea1i, s\u1ef1 ch\u00eanh l\u1ec7ch \u0111\u00f3 l\u00e0 250 \u0111i\u1ec3m c\u01a1 b\u1ea3n, m\u1ed9t trong nh\u1eefng m\u1ee9c cao nh\u1ea5t k\u1ec3 t\u1eeb n\u0103m 2000. \u0110i\u1ec1u n\u00e0y c\u00f3 ngh\u0129a l\u00e0 Fed c\u00f3 th\u1ec3 h\u1ea1 l\u00e3i su\u1ea5t 2,5% tr\u01b0\u1edbc khi ch\u00ednh s\u00e1ch c\u1ee7a h\u1ecd ng\u1eebng g\u00e2y \u00e1p l\u1ef1c gi\u1ea3m l\u00ean l\u1ea1m ph\u00e1t. Ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng c\u00f3 kh\u1ea3 n\u0103ng n\u1edbi l\u1ecfng ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 m\u00e0 kh\u00f4ng th\u00fac \u0111\u1ea9y l\u1ea1m ph\u00e1t.<\/p>\n\n
Ph\u1ed1 Wall k\u1ef3 v\u1ecdng chi ph\u00ed \u0111i vay s\u1ebd gi\u1ea3m t\u1eeb 4,9% c\u1ee7a ng\u00e0y h\u00f4m nay xu\u1ed1ng c\u00f2n 3,4% v\u00e0o th\u00e1ng 10 n\u0103m t\u1edbi. D\u1ef1a tr\u00ean d\u1eef li\u1ec7u, Fed c\u00f3 nhi\u1ec1u d\u01b0 \u0111\u1ecba \u0111\u1ec3 th\u1ef1c hi\u1ec7n c\u00e1c \u0111\u1ee3t c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t n\u00e0y ngay b\u00e2y gi\u1edd v\u00e0 v\u1eabn c\u00f3 th\u00eam 100 \u0111i\u1ec3m c\u01a1 b\u1ea3n \u0111\u1ec3 l\u00e0m vi\u1ec7c. L\u00e3i su\u1ea5t th\u1ea5p h\u01a1n s\u1ebd h\u1ed7 tr\u1ee3 cho s\u1ef1 t\u0103ng tr\u01b0\u1edfng \u1ed5n \u0111\u1ecbnh c\u1ee7a c\u00e1c t\u00e0i s\u1ea3n r\u1ee7i ro nh\u01b0 ti\u1ec1n \u0111i\u1ec7n t\u1eed v\u00e0 c\u1ed5 phi\u1ebfu.<\/p>\n\n
M\u1ed9t s\u1ed1 nh\u00e0 ph\u00e2n t\u00edch cho r\u1eb1ng m\u1ee9c t\u0103ng l\u01b0\u01a1ng m\u1ea1nh c\u00f3 ngh\u0129a l\u00e0 n\u1ec1n kinh t\u1ebf \u0111ang ho\u1ea1t \u0111\u1ed9ng qu\u00e1 n\u00f3ng v\u00e0 vi\u1ec7c n\u1edbi l\u1ecfng ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 s\u1ebd th\u00fac \u0111\u1ea9y l\u1ea1m ph\u00e1t. Nh\u01b0ng c\u00e1c nh\u00e0 ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch \u0111\u00e3 n\u00f3i r\u1eb1ng m\u1ee9c t\u0103ng vi\u1ec7c l\u00e0m g\u1ea7n \u0111\u00e2y l\u00e0 kh\u00f4ng \u0111\u1ee7 \u0111\u1ec3 thay \u0111\u1ed5i t\u00ecnh tr\u1ea1ng ch\u1eadm l\u1ea1i vi\u1ec7c l\u00e0m tr\u00ean di\u1ec7n r\u1ed9ng. Th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng kh\u00f4ng b\u1ecb qu\u00e1 n\u00f3ng v\u00e0 \u00e1p l\u1ef1c ti\u1ec1n l\u01b0\u01a1ng kh\u00f4ng th\u00fac \u0111\u1ea9y l\u1ea1m ph\u00e1t t\u0103ng cao h\u01a1n.<\/p>\n\n
Nh\u1eefng ng\u01b0\u1eddi kh\u00e1c ch\u1ec9 ra ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 c\u1ee7a Nh\u1eadt B\u1ea3n, n\u00f3i r\u1eb1ng n\u1ebfu Nh\u1eadt B\u1ea3n th\u1eaft ch\u1eb7t ch\u00ednh s\u00e1ch, Hoa K\u1ef3 kh\u00f4ng \u0111\u1ee7 kh\u1ea3 n\u0103ng \u0111\u1ec3 c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t v\u00ec n\u1ebfu kh\u00f4ng th\u00ec tr\u00e1i phi\u1ebfu c\u1ee7a Hoa K\u1ef3 s\u1ebd tr\u1edf n\u00ean k\u00e9m h\u1ea5p d\u1eabn h\u01a1n. Tuy nhi\u00ean, Ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng Nh\u1eadt B\u1ea3n \u0111\u00e3 tuy\u00ean b\u1ed1 r\u1eb1ng n\u1ec1n kinh t\u1ebf kh\u00f4ng th\u1ec3 ch\u1ecbu \u0111\u01b0\u1ee3c vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t ngay l\u00fac n\u00e0y. \u0110i\u1ec1u n\u00e0y l\u00e0m gi\u1ea3m \u00e1p l\u1ef1c \u0111\u1ed1i v\u1edbi C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang trong vi\u1ec7c duy tr\u00ec l\u00e3i su\u1ea5t cao \u0111\u1ec3 c\u1ea1nh tranh v\u1edbi tr\u00e1i phi\u1ebfu Nh\u1eadt B\u1ea3n.<\/p>\n\n
C\u00e1c nh\u00e0 qu\u1ea3n l\u00fd qu\u1ef9 \u0111\u1ecbnh l\u01b0\u1ee3ng c\u0169ng \u0111\u00e3 t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn th\u1ecb tr\u01b0\u1eddng b\u1eb1ng c\u00e1ch chuy\u1ec3n t\u1eeb tr\u00e1i phi\u1ebfu sang c\u1ed5 phi\u1ebfu. \u0110i\u1ec1u n\u00e0y \u0111\u00e3 khi\u1ebfn l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu t\u0103ng, nh\u01b0ng \u0111\u00e2y l\u00e0 m\u1ed9t ph\u1ea7n c\u1ee7a qu\u00e1 tr\u00ecnh \u0111i\u1ec1u ch\u1ec9nh th\u1ecb tr\u01b0\u1eddng b\u00ecnh th\u01b0\u1eddng. Khi l\u1ea1m ph\u00e1t ch\u1eadm l\u1ea1i v\u00e0 Fed h\u1ea1 l\u00e3i su\u1ea5t, gi\u00e1 tr\u00e1i phi\u1ebfu c\u00f3 kh\u1ea3 n\u0103ng s\u1ebd \u1ed5n \u0111\u1ecbnh. \u0110\u01b0\u1eddng cong l\u1ee3i su\u1ea5t c\u00f3 th\u1ec3 ph\u1eb3ng \u0111i khi l\u00e3i su\u1ea5t ng\u1eafn h\u1ea1n gi\u1ea3m, h\u1ed7 tr\u1ee3 cho t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf.<\/p>\n\n
Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n \u0111\u00e3 ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi s\u1ef1 ti\u00eau c\u1ef1c t\u1eeb nh\u1eefng ng\u01b0\u1eddi bi quan, nh\u1eefng ng\u01b0\u1eddi hy v\u1ecdng s\u1ebd \u0111\u1ea9y gi\u00e1 c\u1ed5 phi\u1ebfu xu\u1ed1ng th\u1ea5p h\u01a1n. H\u1ecd t\u1eadp trung v\u00e0o nh\u1eefng bi\u1ebfn \u0111\u1ed9ng ng\u1eafn h\u1ea1n v\u00e0 b\u1ecf qua c\u00e1c xu h\u01b0\u1edbng d\u00e0i h\u1ea1n. Nh\u01b0ng d\u1eef li\u1ec7u cho th\u1ea5y \u00e1p l\u1ef1c l\u1ea1m ph\u00e1t \u0111ang gi\u1ea3m, n\u1ec1n kinh t\u1ebf \u0111ang tr\u1edf l\u1ea1i b\u00ecnh th\u01b0\u1eddng v\u00e0 C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang c\u00f3 d\u01b0 \u0111\u1ecba \u0111\u1ec3 c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t. \u0110i\u1ec1u n\u00e0y t\u1ea1o ra m\u1ed9t m\u00f4i tr\u01b0\u1eddng thu\u1eadn l\u1ee3i cho c\u00e1c t\u00e0i s\u1ea3n r\u1ee7i ro, bao g\u1ed3m c\u1ea3 th\u1ecb tr\u01b0\u1eddng ti\u1ec1n \u0111i\u1ec7n t\u1eed.<\/p>\n\n
Ti\u1ec1n \u0111i\u1ec7n t\u1eed th\u01b0\u1eddng \u0111\u01b0\u1ee3c h\u01b0\u1edfng l\u1ee3i t\u1eeb l\u00e3i su\u1ea5t th\u1ea5p h\u01a1n v\u00ec c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u00ecm ki\u1ebfm l\u1ee3i nhu\u1eadn cao h\u01a1n \u1edf c\u00e1c t\u00e0i s\u1ea3n thay th\u1ebf khi chi ph\u00ed \u0111i vay th\u1ea5p. Khi Fed n\u1edbi l\u1ecfng ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7, tri\u1ec3n v\u1ecdng c\u1ee7a ti\u1ec1n \u0111i\u1ec7n t\u1eed s\u1ebd \u0111\u01b0\u1ee3c c\u1ea3i thi\u1ec7n. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 th\u1ea5y c\u00e1c t\u00e0i s\u1ea3n ti\u1ec1n \u0111i\u1ec7n t\u1eed h\u1ea5p d\u1eabn h\u01a1n nh\u01b0 m\u1ed9t ph\u1ea7n c\u1ee7a danh m\u1ee5c \u0111\u1ea7u t\u01b0 \u0111a d\u1ea1ng. C\u00e1c \u0111\u1ee3t c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t ti\u1ec1m n\u0103ng c\u00f3 th\u1ec3 th\u00fac \u0111\u1ea9y th\u1ecb tr\u01b0\u1eddng ti\u1ec1n \u0111i\u1ec7n t\u1eed, ph\u00f9 h\u1ee3p v\u1edbi k\u1ef3 v\u1ecdng c\u1ee7a Ph\u1ed1 Wall.<\/p>\n\n
\u0110i\u1ec1u quan tr\u1ecdng c\u1ea7n l\u01b0u \u00fd l\u00e0 c\u00e1c quy\u1ebft \u0111\u1ecbnh c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang d\u1ef1a tr\u00ean xu h\u01b0\u1edbng kinh t\u1ebf d\u00e0i h\u1ea1n, kh\u00f4ng ch\u1ec9 d\u1ef1a tr\u00ean d\u1eef li\u1ec7u h\u00e0ng th\u00e1ng. Ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng xem x\u00e9t c\u00e1c y\u1ebfu t\u1ed1 nh\u01b0 xu h\u01b0\u1edbng l\u1ea1m ph\u00e1t, t\u00ecnh tr\u1ea1ng ch\u1eadm l\u1ea1i c\u1ee7a vi\u1ec7c l\u00e0m v\u00e0 c\u00e1c \u0111i\u1ec1u ki\u1ec7n kinh t\u1ebf to\u00e0n c\u1ea7u. B\u1eb1ng c\u00e1ch t\u1eadp trung v\u00e0o c\u00e1c ch\u1ec9 s\u1ed1 r\u1ed9ng h\u01a1n n\u00e0y, Fed c\u00f3 th\u1ec3 thi\u1ebft l\u1eadp ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 h\u1ed7 tr\u1ee3 cho t\u0103ng tr\u01b0\u1edfng b\u1ec1n v\u1eefng m\u00e0 kh\u00f4ng g\u00e2y ra l\u1ea1m ph\u00e1t cao.<\/p>\n\n
T\u00f3m l\u1ea1i, b\u1ea5t ch\u1ea5p ti\u1ebfng \u1ed3n t\u1eeb nh\u1eefng ng\u01b0\u1eddi bi quan, b\u1ee9c tranh to\u00e0n c\u1ea3nh cho th\u1ea5y l\u1ea1m ph\u00e1t \u0111ang ch\u1eadm l\u1ea1i v\u00e0 C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang c\u00f3 d\u01b0 \u0111\u1ecba \u0111\u1ec3 h\u1ea1 l\u00e3i su\u1ea5t. C\u00e1c xu h\u01b0\u1edbng kinh t\u1ebf \u0111ang b\u00ecnh th\u01b0\u1eddng tr\u1edf l\u1ea1i sau nh\u1eefng gi\u00e1n \u0111o\u1ea1n do k\u00edch th\u00edch kinh t\u1ebf do COVID g\u00e2y ra. Qu\u1ef9 \u0111\u1ea1o c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t c\u1ee7a ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng v\u1eabn nguy\u00ean tr\u1ea1ng, h\u1ed7 tr\u1ee3 cho tri\u1ec3n v\u1ecdng t\u00edch c\u1ef1c \u0111\u1ed1i v\u1edbi c\u1ed5 phi\u1ebfu v\u00e0 ti\u1ec1n \u0111i\u1ec7n t\u1eed. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean xem x\u00e9t c\u00e1c xu h\u01b0\u1edbng v\u00e0 d\u1eef li\u1ec7u d\u00e0i h\u1ea1n thay v\u00ec b\u1ecb cu\u1ed1n v\u00e0o nh\u1eefng bi\u1ebfn \u0111\u1ed9ng ng\u1eafn h\u1ea1n.<\/p>\n\n
Kh\u1ea3 n\u0103ng h\u1ea1 l\u00e3i su\u1ea5t m\u00e0 kh\u00f4ng th\u00fac \u0111\u1ea9y l\u1ea1m ph\u00e1t c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang gi\u00fap t\u1ea1o ra s\u1ef1 \u0111\u1ec7m cho n\u1ec1n kinh t\u1ebf. Khi \u00e1p l\u1ef1c l\u1ea1m ph\u00e1t gi\u1ea3m, ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng c\u00f3 th\u1ec3 \u0111\u01b0a l\u00e3i su\u1ea5t tr\u1edf l\u1ea1i m\u1ee9c b\u00ecnh th\u01b0\u1eddng h\u01a1n. \u0110i\u1ec1u n\u00e0y ph\u00f9 h\u1ee3p v\u1edbi k\u1ef3 v\u1ecdng c\u1ee7a Ph\u1ed1 Wall v\u00e0 h\u1ed7 tr\u1ee3 cho s\u1ef1 t\u0103ng tr\u01b0\u1edfng \u1ed5n \u0111\u1ecbnh c\u1ee7a c\u00e1c t\u00e0i<\/p>","protected":false},"excerpt":{"rendered":"
K\u1ebf ho\u1ea1ch c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang v\u1eabn \u0111i \u0111\u00fang h\u01b0\u1edbng, th\u00fac \u0111\u1ea9y tri\u1ec3n v\u1ecdng c\u1ee7a ti\u1ec1n \u0111i\u1ec7n t\u1eed v\u00e0 c\u00e1c t\u00e0i s\u1ea3n r\u1ee7i ro…<\/p>\n","protected":false},"author":3,"featured_media":2067,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/bitcoinnewscrypto.com\/vi\/wp-json\/wp\/v2\/posts\/2066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinnewscrypto.com\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinnewscrypto.com\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinnewscrypto.com\/vi\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinnewscrypto.com\/vi\/wp-json\/wp\/v2\/comments?post=2066"}],"version-history":[{"count":1,"href":"https:\/\/bitcoinnewscrypto.com\/vi\/wp-json\/wp\/v2\/posts\/2066\/revisions"}],"predecessor-version":[{"id":2068,"href":"https:\/\/bitcoinnewscrypto.com\/vi\/wp-json\/wp\/v2\/posts\/2066\/revisions\/2068"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinnewscrypto.com\/vi\/wp-json\/wp\/v2\/media\/2067"}],"wp:attachment":[{"href":"https:\/\/bitcoinnewscrypto.com\/vi\/wp-json\/wp\/v2\/media?parent=2066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinnewscrypto.com\/vi\/wp-json\/wp\/v2\/categories?post=2066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinnewscrypto.com\/vi\/wp-json\/wp\/v2\/tags?post=2066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}