{"id":2472,"date":"2026-04-04T18:50:48","date_gmt":"2026-04-04T18:50:48","guid":{"rendered":"https:\/\/taichinhphowall.com\/index.php\/2026\/04\/04\/chu-tich-fed-powell-se-phot-lo-cu-soc-gia-nang-luong-chua-voi-nang-lai-suat\/"},"modified":"2026-04-04T18:50:48","modified_gmt":"2026-04-04T18:50:48","slug":"chu-tich-fed-powell-se-phot-lo-cu-soc-gia-nang-luong-chua-voi-nang-lai-suat","status":"publish","type":"post","link":"https:\/\/taichinhphowall.com\/index.php\/2026\/04\/04\/chu-tich-fed-powell-se-phot-lo-cu-soc-gia-nang-luong-chua-voi-nang-lai-suat\/","title":{"rendered":"Ch\u1ee7 t\u1ecbch Fed Powell: S\u1ebd ‘ph\u1edbt l\u1edd’ c\u00fa s\u1ed1c gi\u00e1 n\u0103ng l\u01b0\u1ee3ng, ch\u01b0a v\u1ed9i n\u00e2ng l\u00e3i su\u1ea5t"},"content":{"rendered":"
\n

Ph\u00e1t bi\u1ec3u t\u1ea1i \u0110\u1ea1i h\u1ecdc Harvard, Ch\u1ee7 t\u1ecbch C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang Jerome Powell \u0111\u00e3 \u0111\u01b0a ra m\u1ed9t th\u00f4ng \u0111i\u1ec7p r\u00f5 r\u00e0ng: k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t v\u1eabn \u0111ang \u0111\u01b0\u1ee3c “neo gi\u1eef” t\u1ed1t, b\u1ea5t ch\u1ea5p gi\u00e1 n\u0103ng l\u01b0\u1ee3ng t\u0103ng v\u1ecdt. Do \u0111\u00f3, ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng n\u00e0y kh\u00f4ng th\u1ea5y c\u1ea7n thi\u1ebft ph\u1ea3i ph\u1ea3n \u1ee9ng b\u1eb1ng vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t, m\u1ed9t \u0111\u1ed9ng th\u00e1i tr\u1ea5n an c\u00e1c th\u1ecb tr\u01b0\u1eddng \u0111ang lo ng\u1ea1i v\u1ec1 m\u1ed9t \u0111\u1ee3t th\u1eaft ch\u1eb7t ch\u00ednh s\u00e1ch m\u1edbi.<\/p>\n

\"tin<\/p>\n

Trong b\u1ed1i c\u1ea3nh nhi\u1ec7m k\u1ef3 c\u1ee7a \u00f4ng s\u1eafp k\u1ebft th\u00fac, \u00f4ng Powell \u0111\u00e3 kh\u00e9o l\u00e9o n\u00e9 tr\u00e1nh c\u00e1c c\u00e2u h\u1ecfi v\u1ec1 \u0111\u1ecbnh h\u01b0\u1edbng l\u00e3i su\u1ea5t d\u00e0i h\u1ea1n ho\u1eb7c quan \u0111i\u1ec3m c\u1ee7a ng\u01b0\u1eddi k\u1ebf nhi\u1ec7m ti\u1ec1m n\u0103ng. Thay v\u00e0o \u0111\u00f3, \u00f4ng nh\u1ea5n m\u1ea1nh r\u1eb1ng \u0111\u1ed9ng th\u00e1i ph\u00f9 h\u1ee3p hi\u1ec7n t\u1ea1i l\u00e0 nh\u00ecn xuy\u00ean qua nh\u1eefng bi\u1ebfn \u0111\u1ed9ng ng\u1eafn h\u1ea1n c\u1ee7a th\u1ecb tr\u01b0\u1eddng n\u0103ng l\u01b0\u1ee3ng v\u00e0 t\u1eadp trung v\u00e0o c\u00e1c m\u1ee5c ti\u00eau c\u1ed1t l\u00f5i c\u1ee7a Fed l\u00e0 \u1ed5n \u0111\u1ecbnh gi\u00e1 c\u1ea3 v\u00e0 t\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p th\u1ea5p.<\/p>\n

“K\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t trong d\u00e0i h\u1ea1n d\u01b0\u1eddng nh\u01b0 v\u1eabn \u0111\u01b0\u1ee3c neo gi\u1eef t\u1ed1t. Tuy nhi\u00ean, \u0111\u00e2y l\u00e0 v\u1ea5n \u0111\u1ec1 m\u00e0 cu\u1ed1i c\u00f9ng ch\u00fang ta c\u00f3 th\u1ec3 ph\u1ea3i \u0111\u1ed1i m\u1eb7t,” \u00f4ng Powell th\u1eeba nh\u1eadn. “Ch\u00fang ta ch\u01b0a th\u1ef1c s\u1ef1 \u0111\u1ed1i m\u1eb7t v\u1edbi n\u00f3 ngay b\u00e2y gi\u1edd, v\u00ec ch\u00fang ta ch\u01b0a bi\u1ebft t\u00e1c \u0111\u1ed9ng kinh t\u1ebf s\u1ebd ra sao, nh\u01b0ng ch\u1eafc ch\u1eafn ch\u00fang t\u00f4i s\u1ebd l\u01b0u t\u00e2m \u0111\u1ebfn b\u1ed1i c\u1ea3nh r\u1ed9ng l\u1edbn h\u01a1n khi \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh.”<\/p>\n

\u00d4ng Powell t\u00e1i kh\u1eb3ng \u0111\u1ecbnh quan \u0111i\u1ec3m r\u1eb1ng m\u1ee9c l\u00e3i su\u1ea5t m\u1ee5c ti\u00eau hi\u1ec7n t\u1ea1i, trong kho\u1ea3ng 3,5% – 3,75%, l\u00e0 “m\u1ed9t v\u1ecb th\u1ebf t\u1ed1t” \u0111\u1ec3 Fed c\u00f3 th\u1ec3 quan s\u00e1t c\u00e1c di\u1ec5n bi\u1ebfn ph\u1ee9c t\u1ea1p, bao g\u1ed3m cu\u1ed9c chi\u1ebfn \u1edf Iran v\u00e0 t\u00e1c \u0111\u1ed9ng c\u1ee7a c\u00e1c h\u00e0ng r\u00e0o thu\u1ebf quan l\u00ean gi\u00e1 c\u1ea3.<\/p>\n

B\u00ecnh lu\u1eadn n\u00e0y ngay l\u1eadp t\u1ee9c t\u1ea1o ra hi\u1ec7u \u1ee9ng tr\u00ean th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh. Gi\u1edbi giao d\u1ecbch \u0111\u00e3 lo\u1ea1i b\u1ecf g\u1ea7n nh\u01b0 ho\u00e0n to\u00e0n kh\u1ea3 n\u0103ng Fed t\u0103ng l\u00e3i su\u1ea5t trong n\u0103m nay. Ch\u1ec9 m\u1edbi s\u00e1ng th\u1ee9 S\u00e1u, th\u1ecb tr\u01b0\u1eddng c\u00f2n \u0111ang \u0111\u1ecbnh gi\u00e1 x\u00e1c su\u1ea5t t\u0103ng 0,25 \u0111i\u1ec3m ph\u1ea7n tr\u0103m l\u00e0 h\u01a1n 50%. Tuy nhi\u00ean, sau b\u00e0i ph\u00e1t bi\u1ec3u c\u1ee7a \u00f4ng Powell, t\u1ef7 l\u1ec7 n\u00e0y \u0111\u00e3 gi\u1ea3m m\u1ea1nh xu\u1ed1ng ch\u1ec9 c\u00f2n 2,2% cho k\u1ecbch b\u1ea3n t\u0103ng l\u00e3i su\u1ea5t v\u00e0o th\u00e1ng 12.<\/p>\n

V\u1ecb ch\u1ee7 t\u1ecbch Fed gi\u1ea3i th\u00edch r\u1eb1ng vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t ngay b\u00e2y gi\u1edd c\u00f3 th\u1ec3 g\u00e2y ra nh\u1eefng t\u00e1c \u0111\u1ed9ng ti\u00eau c\u1ef1c cho n\u1ec1n kinh t\u1ebf trong t\u01b0\u01a1ng lai. \u00d4ng l\u01b0u \u00fd r\u1eb1ng c\u00e1c \u0111\u1ed9ng th\u00e1i c\u1ee7a Fed c\u00f3 \u0111\u1ed9 tr\u1ec5 t\u00e1c \u0111\u1ed9ng, do \u0111\u00f3 m\u1ed9t \u0111\u1ee3t th\u1eaft ch\u1eb7t ch\u00ednh s\u00e1ch \u1edf th\u1eddi \u0111i\u1ec3m n\u00e0y s\u1ebd kh\u00f4ng gi\u00fap gi\u1ea3i quy\u1ebft t\u00e1c \u0111\u1ed9ng l\u1ea1m ph\u00e1t t\u1eeb cu\u1ed9c chi\u1ebfn Iran. “Khi c\u00e1c t\u00e1c \u0111\u1ed9ng c\u1ee7a vi\u1ec7c th\u1eaft ch\u1eb7t ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 ph\u00e1t huy hi\u1ec7u l\u1ef1c, c\u00fa s\u1ed1c gi\u00e1 d\u1ea7u c\u00f3 l\u1ebd \u0111\u00e3 qua t\u1eeb l\u00e2u, v\u00e0 b\u1ea1n \u0111ang t\u1ea1o g\u00e1nh n\u1eb7ng cho n\u1ec1n kinh t\u1ebf v\u00e0o m\u1ed9t th\u1eddi \u0111i\u1ec3m kh\u00f4ng th\u00edch h\u1ee3p. V\u00ec v\u1eady, xu h\u01b0\u1edbng l\u00e0 nh\u00ecn xuy\u00ean qua b\u1ea5t k\u1ef3 lo\u1ea1i c\u00fa s\u1ed1c ngu\u1ed3n cung n\u00e0o,” \u00f4ng n\u00f3i th\u00eam.<\/p>\n

C\u00e1c ch\u1ec9 s\u1ed1 th\u1ecb tr\u01b0\u1eddng nh\u01b0 t\u1ef7 l\u1ec7 h\u00f2a v\u1ed1n (breakeven rates) c\u1ee7a tr\u00e1i phi\u1ebfu Kho b\u1ea1c c\u0169ng cho th\u1ea5y \u00edt lo ng\u1ea1i v\u1ec1 m\u1ed9t \u0111\u1ee3t l\u1ea1m ph\u00e1t b\u00f9ng n\u1ed5. T\u1ef7 l\u1ec7 h\u00f2a v\u1ed1n 5 n\u0103m g\u1ea7n \u0111\u00e2y nh\u1ea5t dao \u0111\u1ed9ng quanh m\u1ee9c 2,56% v\u00e0 \u0111ang c\u00f3 xu h\u01b0\u1edbng gi\u1ea3m trong 10 ng\u00e0y qua.<\/p>\n

V\u1ec1 v\u1ea5n \u0111\u1ec1 th\u1ecb tr\u01b0\u1eddng t\u00edn d\u1ee5ng t\u01b0 nh\u00e2n tr\u1ecb gi\u00e1 3.000 t\u1ef7 USD, \u00f4ng Powell ghi nh\u1eadn t\u00ecnh tr\u1ea1ng v\u1ee1 n\u1ee3 gia t\u0103ng v\u00e0 vi\u1ec7c nh\u00e0 \u0111\u1ea7u t\u01b0 r\u00fat v\u1ed1n. Tuy nhi\u00ean, \u00f4ng cho r\u1eb1ng \u0111\u00e2y l\u00e0 m\u1ed9t “\u0111\u1ee3t \u0111i\u1ec1u ch\u1ec9nh” \u0111ang di\u1ec5n ra h\u01a1n l\u00e0 m\u1ed9t nguy c\u01a1 h\u1ec7 th\u1ed1ng. “Ch\u00fang t\u00f4i \u0111ang t\u00ecm ki\u1ebfm c\u00e1c k\u1ebft n\u1ed1i v\u1edbi h\u1ec7 th\u1ed1ng ng\u00e2n h\u00e0ng v\u00e0 nh\u1eefng th\u1ee9 c\u00f3 th\u1ec3 d\u1eabn \u0111\u1ebfn s\u1ef1 l\u00e2y lan. Ch\u00fang t\u00f4i kh\u00f4ng th\u1ea5y nh\u1eefng \u0111i\u1ec1u \u0111\u00f3 ngay b\u00e2y gi\u1edd,” \u00f4ng n\u00f3i. “Ch\u1eafc ch\u1eafn s\u1ebd c\u00f3 ng\u01b0\u1eddi m\u1ea5t ti\u1ec1n, nh\u01b0ng n\u00f3 d\u01b0\u1eddng nh\u01b0 kh\u00f4ng c\u00f3 d\u1ea5u hi\u1ec7u c\u1ee7a m\u1ed9t s\u1ef1 ki\u1ec7n h\u1ec7 th\u1ed1ng r\u1ed9ng l\u1edbn h\u01a1n.”<\/p>\n

Bi\u00ean t\u1eadp: Ph\u1ed1 Wall (Theo cnbc.com)<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Ph\u00e1t bi\u1ec3u t\u1ea1i \u0110\u1ea1i h\u1ecdc Harvard, Ch\u1ee7 t\u1ecbch C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang Jerome Powell \u0111\u00e3 \u0111\u01b0a ra m\u1ed9t th\u00f4ng \u0111i\u1ec7p r\u00f5 r\u00e0ng: k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t v\u1eabn \u0111ang \u0111\u01b0\u1ee3c “neo gi\u1eef” t\u1ed1t, b\u1ea5t ch\u1ea5p gi\u00e1 n\u0103ng l\u01b0\u1ee3ng t\u0103ng v\u1ecdt. Do \u0111\u00f3, ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng n\u00e0y kh\u00f4ng th\u1ea5y c\u1ea7n thi\u1ebft ph\u1ea3i ph\u1ea3n \u1ee9ng b\u1eb1ng […]<\/p>\n","protected":false},"author":1,"featured_media":2389,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[41],"tags":[],"class_list":["post-2472","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\/2472","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=2472"}],"version-history":[{"count":0,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/2472\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media\/2389"}],"wp:attachment":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media?parent=2472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/categories?post=2472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/tags?post=2472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}