{"id":14982,"date":"2026-05-15T13:41:11","date_gmt":"2026-05-15T06:41:11","guid":{"rendered":"https:\/\/taichinhphowall.com\/index.php\/2026\/05\/15\/giam-phat-dang-ke-va-su-chuyen-giao-quyen-luc-tai-fed\/"},"modified":"2026-05-15T13:41:11","modified_gmt":"2026-05-15T06:41:11","slug":"giam-phat-dang-ke-va-su-chuyen-giao-quyen-luc-tai-fed","status":"publish","type":"post","link":"https:\/\/taichinhphowall.com\/index.php\/2026\/05\/15\/giam-phat-dang-ke-va-su-chuyen-giao-quyen-luc-tai-fed\/","title":{"rendered":"Gi\u1ea3m ph\u00e1t \u0111\u00e1ng k\u1ec3 v\u00e0 s\u1ef1 chuy\u1ec3n giao quy\u1ec1n l\u1ef1c t\u1ea1i FED"},"content":{"rendered":"
\n

Gi\u1ea3m ph\u00e1t \u0111\u00e1ng k\u1ec3 l\u00e0 k\u1ef3 v\u1ecdng c\u1ed1t l\u00f5i c\u1ee7a B\u1ed9 tr\u01b0\u1edfng T\u00e0i ch\u00ednh Scott Bessent trong b\u1ed1i c\u1ea3nh n\u1ec1n kinh t\u1ebf M\u1ef9 \u0111ang \u0111\u1ed1i m\u1eb7t v\u1edbi nh\u1eefng \u00e1p l\u1ef1c gi\u00e1 c\u1ea3 dai d\u1eb3ng. Gi\u1eefa l\u00fac d\u01b0 lu\u1eadn c\u00f2n ho\u00e0i nghi v\u1ec1 c\u00e1c d\u1eef li\u1ec7u l\u1ea1m ph\u00e1t ti\u00eau c\u1ef1c g\u1ea7n \u0111\u00e2y, \u00f4ng Bessent tin r\u1eb1ng giai \u0111o\u1ea1n t\u0103ng gi\u00e1 do s\u1ed1c ngu\u1ed3n cung n\u0103ng l\u01b0\u1ee3ng s\u1ebd s\u1edbm \u0111\u1ea3o chi\u1ec1u, t\u1ea1o ti\u1ec1n \u0111\u1ec1 thu\u1eadn l\u1ee3i cho nhi\u1ec7m k\u1ef3 c\u1ee7a t\u00e2n Ch\u1ee7 t\u1ecbch C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang (FED) Kevin Warsh. S\u1ef1 thay \u0111\u1ed5i n\u00e0y kh\u00f4ng ch\u1ec9 mang t\u00ednh nh\u00e2n s\u1ef1 \u0111\u01a1n thu\u1ea7n m\u00e0 c\u00f2n l\u00e0 \u0111i\u1ec3m m\u1ea5u ch\u1ed1t \u0111\u1ecbnh h\u00ecnh h\u01b0\u1edbng \u0111i m\u1edbi c\u1ee7a ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 trong th\u1eddi gian t\u1edbi.<\/p>\n

\n \"Gi\u1ea3m
\u1ea2nh t\u1eeb ngu\u1ed3n: cnbc.com<\/em><\/figcaption><\/figure>\n

C\u01a1 s\u1edf n\u00e0o cho ni\u1ec1m tin v\u1ec1 gi\u1ea3m ph\u00e1t \u0111\u00e1ng k\u1ec3?<\/h2>\n

Trong cu\u1ed9c trao \u0111\u1ed5i c\u00f9ng CNBC, B\u1ed9 tr\u01b0\u1edfng Bessent kh\u1eb3ng \u0111\u1ecbnh r\u1eb1ng c\u00e1c c\u00fa s\u1ed1c ngu\u1ed3n cung, \u0111\u1eb7c bi\u1ec7t l\u00e0 t\u1eeb xung \u0111\u1ed9t Iran, mang t\u00ednh ch\u1ea5t t\u1ea1m th\u1eddi. \u00d4ng nh\u1ea5n m\u1ea1nh r\u1eb1ng tr\u01b0\u1edbc khi nh\u1eefng c\u0103ng th\u1eb3ng \u0111\u1ecba ch\u00ednh tr\u1ecb n\u1ed5 ra, l\u1ea1m ph\u00e1t l\u00f5i \u0111\u00e3 c\u00f3 xu h\u01b0\u1edbng h\u1ea1 nhi\u1ec7t r\u00f5 r\u1ec7t. Ch\u00ednh s\u00e1ch \u0111\u1ea9y m\u1ea1nh s\u1ea3n l\u01b0\u1ee3ng d\u1ea7u n\u1ed9i \u0111\u1ecba c\u1ee7a M\u1ef9 \u0111\u01b0\u1ee3c k\u1ef3 v\u1ecdng s\u1ebd \u0111\u00f3ng vai tr\u00f2 nh\u01b0 m\u1ed9t b\u1ed9 gi\u1ea3m x\u00f3c, gi\u00fap k\u00ecm h\u00e3m \u0111\u00e0 t\u0103ng c\u1ee7a chi ph\u00ed n\u0103ng l\u01b0\u1ee3ng v\u00e0 t\u1eeb \u0111\u00f3 k\u00e9o l\u1ea1m ph\u00e1t l\u00f5i ti\u1ebfp t\u1ee5c \u0111i xu\u1ed1ng. Vi\u1ec7c \u0111\u1ecbnh v\u1ecb l\u1ea1m ph\u00e1t l\u00e0 y\u1ebfu t\u1ed1 c\u00f3 th\u1ec3 “nh\u00ecn xuy\u00ean qua” cho th\u1ea5y m\u1ed9t t\u01b0 duy qu\u1ea3n tr\u1ecb th\u1eadn tr\u1ecdng nh\u01b0ng v\u1eabn \u0111\u1ea7y ki\u00ean \u0111\u1ecbnh tr\u01b0\u1edbc c\u00e1c bi\u1ebfn \u0111\u1ed9ng ng\u1eafn h\u1ea1n.<\/p>\n

Tuy nhi\u00ean, b\u1ee9c tranh th\u1ef1c t\u1ebf l\u1ea1i \u0111ang tr\u00ecnh b\u00e0y m\u1ed9t di\u1ec7n m\u1ea1o \u0111\u1ea7y th\u00e1ch th\u1ee9c. Ch\u1ec9 s\u1ed1 gi\u00e1 ti\u00eau d\u00f9ng th\u00e1ng 4 ghi nh\u1eadn m\u1ee9c t\u0103ng 0,6%, trong khi l\u1ea1m ph\u00e1t l\u00f5i – lo\u1ea1i tr\u1eeb th\u1ef1c ph\u1ea9m v\u00e0 n\u0103ng l\u01b0\u1ee3ng – c\u0169ng t\u0103ng 0,4%. V\u1edbi m\u1ee9c l\u1ea1m ph\u00e1t 12 th\u00e1ng \u0111ang neo \u1edf m\u1ee9c 3,8% v\u00e0 2,8% \u0111\u1ed1i v\u1edbi l\u1ea1m ph\u00e1t l\u00f5i, gi\u1edbi quan s\u00e1t v\u1eabn c\u00f2n nhi\u1ec1u l\u00fd do \u0111\u1ec3 lo ng\u1ea1i. \u0110\u00e1ng ch\u00fa \u00fd, ch\u1ec9 s\u1ed1 gi\u00e1 s\u1ea3n xu\u1ea5t (PPI) \u0111ang cho th\u1ea5y \u00e1p l\u1ef1c t\u1eeb chu\u1ed7i cung \u1ee9ng v\u1eabn r\u1ea5t l\u1edbn khi t\u0103ng 1,4% trong th\u00e1ng, \u0111\u1ea9y m\u1ee9c t\u0103ng h\u1eb1ng n\u0103m l\u00ean 6% – con s\u1ed1 cao nh\u1ea5t k\u1ec3 t\u1eeb cu\u1ed1i n\u0103m 2022. Nh\u1eefng d\u1eef li\u1ec7u n\u00e0y \u0111\u00f2i h\u1ecfi t\u00e2n Ch\u1ee7 t\u1ecbch FED ph\u1ea3i c\u00f3 nh\u1eefng b\u01b0\u1edbc \u0111i th\u1eadn tr\u1ecdng h\u01a1n bao gi\u1edd h\u1ebft.<\/p>\n

S\u1ef1 chuy\u1ec3n giao quy\u1ec1n l\u1ef1c d\u01b0\u1edbi th\u1eddi Kevin Warsh<\/h2>\n

S\u1ef1 ki\u1ec7n \u00f4ng Kevin Warsh ch\u00ednh th\u1ee9c ti\u1ebfp qu\u1ea3n v\u1ecb tr\u00ed t\u1eeb ng\u01b0\u1eddi ti\u1ec1n nhi\u1ec7m Jerome Powell v\u00e0o cu\u1ed1i tu\u1ea7n n\u00e0y \u0111\u00e1nh d\u1ea5u m\u1ed9t ch\u01b0\u01a1ng m\u1edbi t\u1ea1i b\u00e0n c\u1edd ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7. Nh\u01b0 \u0111\u00e3 \u0111\u1ec1 c\u1eadp trong c\u00e1c ph\u00e2n t\u00edch v\u1ec1 Kevin Warsh x\u00e1c nh\u1eadn v\u1ecb tr\u00ed Ch\u1ee7 t\u1ecbch FED v\u00e0 th\u00e1ch th\u1ee9c \u0111i\u1ec1u h\u00e0nh l\u00e3i su\u1ea5t<\/a>, th\u1ecb tr\u01b0\u1eddng \u0111ang d\u1ed3n m\u1ecdi s\u1ef1 ch\u00fa \u00fd v\u00e0o c\u00e1ch \u00f4ng c\u00e2n b\u1eb1ng gi\u1eefa vi\u1ec7c ki\u1ec3m so\u00e1t gi\u00e1 c\u1ea3 v\u00e0 duy tr\u00ec \u1ed5n \u0111\u1ecbnh t\u0103ng tr\u01b0\u1edfng. Kh\u00f4ng ch\u1ec9 l\u00e0 thay \u0111\u1ed5i nh\u00e2n s\u1ef1 c\u1ea5p cao, \u0111\u00e2y c\u00f2n l\u00e0 th\u1eddi \u0111i\u1ec3m m\u00e0 ni\u1ec1m tin c\u1ee7a th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu \u0111ang \u0111\u1eb7t l\u00ean b\u00e0n c\u00e2n, khi nhi\u1ec1u b\u00ean lo ng\u1ea1i li\u1ec7u th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu c\u00f3 lo ng\u1ea1i FED ch\u1eadm ch\u00e2n trong cu\u1ed9c chi\u1ebfn l\u1ea1m ph\u00e1t d\u01b0\u1edbi th\u1eddi Kevin Warsh<\/a> hay kh\u00f4ng.<\/p>\n

Trong b\u1ed1i c\u1ea3nh \u0111\u00f3, vi\u1ec7c Th\u1ed1ng \u0111\u1ed1c FED Miran t\u1eeb ch\u1ee9c v\u00e0 nh\u1eefng bi\u1ebfn \u0111\u1ed9ng xoay quanh nh\u00e2n s\u1ef1 c\u1ea5p cao t\u1ea1i FED c\u00e0ng l\u00e0m t\u0103ng th\u00eam s\u1ef1 ch\u00fa \u00fd v\u1ec1 s\u1ef1 \u1ee7ng h\u1ed9 d\u00e0nh cho Kevin Warsh trong vi\u1ec7c \u0111\u1ecbnh h\u00ecnh l\u1ea1i c\u01a1 ch\u1ebf l\u00e3i su\u1ea5t hi\u1ec7n h\u00e0nh. B\u1ed9 tr\u01b0\u1edfng Bessent cho r\u1eb1ng d\u00f9 c\u00f3 th\u1ec3 xu\u1ea5t hi\u1ec7n th\u00eam m\u1ed9t ho\u1eb7c hai ch\u1ec9 s\u1ed1 l\u1ea1m ph\u00e1t “n\u00f3ng” trong ng\u1eafn h\u1ea1n, nh\u01b0ng nh\u00ecn chung, n\u1ec1n kinh t\u1ebf \u0111ang ti\u1ebfn t\u1edbi giai \u0111o\u1ea1n gi\u1ea3m ph\u00e1t \u0111\u00e1ng k\u1ec3. \u0110\u00e2y kh\u00f4ng ch\u1ec9 l\u00e0 k\u1ef3 v\u1ecdng v\u1ec1 con s\u1ed1, m\u00e0 c\u00f2n l\u00e0 ni\u1ec1m tin v\u00e0o kh\u1ea3 n\u0103ng \u0111i\u1ec1u h\u00e0nh c\u1ee7a \u0111\u1ed9i ng\u0169 m\u1edbi t\u1ea1i FED nh\u1eb1m \u0111\u01b0a n\u1ec1n kinh t\u1ebf tr\u1edf l\u1ea1i qu\u1ef9 \u0111\u1ea1o \u1ed5n \u0111\u1ecbnh.<\/p>\n

B\u00e0i vi\u1ebft \u0111\u00e3 \u0111\u01b0\u1ee3c bi\u00ean t\u1eadp l\u1ea1i t\u1eeb ngu\u1ed3n: cnbc.com<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Gi\u1ea3m ph\u00e1t \u0111\u00e1ng k\u1ec3 l\u00e0 k\u1ef3 v\u1ecdng c\u1ed1t l\u00f5i c\u1ee7a B\u1ed9 tr\u01b0\u1edfng T\u00e0i ch\u00ednh Scott Bessent trong b\u1ed1i c\u1ea3nh n\u1ec1n kinh t\u1ebf M\u1ef9 \u0111ang \u0111\u1ed1i m\u1eb7t v\u1edbi nh\u1eefng \u00e1p l\u1ef1c gi\u00e1 c\u1ea3 dai d\u1eb3ng. Gi\u1eefa l\u00fac d\u01b0 lu\u1eadn c\u00f2n ho\u00e0i nghi v\u1ec1 c\u00e1c d\u1eef li\u1ec7u l\u1ea1m ph\u00e1t ti\u00eau c\u1ef1c g\u1ea7n \u0111\u00e2y, \u00f4ng Bessent tin r\u1eb1ng […]<\/p>\n","protected":false},"author":1,"featured_media":14980,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[41],"tags":[],"class_list":["post-14982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tin-tuc-fed"],"_links":{"self":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/14982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/comments?post=14982"}],"version-history":[{"count":0,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/14982\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media\/14980"}],"wp:attachment":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media?parent=14982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/categories?post=14982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/tags?post=14982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}