{"id":2758,"date":"2026-04-07T00:06:16","date_gmt":"2026-04-06T17:06:16","guid":{"rendered":"https:\/\/taichinhphowall.com\/index.php\/2026\/04\/07\/fed-chia-re-ve-lai-suat-waller-hang-dong-than-trong-thi-truong-chung-chim-trong-bat-on-dia-chinh-tri\/"},"modified":"2026-04-07T00:06:16","modified_gmt":"2026-04-06T17:06:16","slug":"fed-chia-re-ve-lai-suat-waller-hang-dong-than-trong-thi-truong-chung-chim-trong-bat-on-dia-chinh-tri","status":"publish","type":"post","link":"https:\/\/taichinhphowall.com\/index.php\/2026\/04\/07\/fed-chia-re-ve-lai-suat-waller-hang-dong-than-trong-thi-truong-chung-chim-trong-bat-on-dia-chinh-tri\/","title":{"rendered":"FED Chia R\u1ebd V\u1ec1 L\u00e3i Su\u1ea5t: Waller H\u00e0ng \u0110\u1ed9ng Th\u1eadn Tr\u1ecdng, Th\u1ecb Tr\u01b0\u1eddng Chung Ch\u00ecm Trong B\u1ea5t \u1ed4n \u0110\u1ecba Ch\u00ednh Tr\u1ecb"},"content":{"rendered":"
\n

Th\u1ed1ng \u0111\u1ed1c C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang (FED) Christopher Waller, m\u1ed9t g\u01b0\u01a1ng m\u1eb7t t\u1eebng \u1ee7ng h\u1ed9 m\u1ea1nh m\u1ebd vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t, v\u1eeba b\u00e0y t\u1ecf l\u1eadp tr\u01b0\u1eddng th\u1eadn tr\u1ecdng h\u01a1n v\u1ec1 t\u00ecnh h\u00ecnh kinh t\u1ebf hi\u1ec7n t\u1ea1i. D\u00f9 v\u1eabn nh\u00ecn th\u1ea5y c\u01a1 h\u1ed9i n\u1edbi l\u1ecfng ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 v\u00e0o cu\u1ed1i n\u0103m nay, quan \u0111i\u1ec3m “ch\u1edd xem” c\u1ee7a \u00f4ng \u0111ang g\u1eedi \u0111i t\u00edn hi\u1ec7u ph\u1ee9c t\u1ea1p, bu\u1ed9c th\u1ecb tr\u01b0\u1eddng chung ph\u1ea3i t\u00e1i \u0111\u1ecbnh h\u00ecnh k\u1ef3 v\u1ecdng trong b\u1ed1i c\u1ea3nh b\u1ea5t \u1ed5n \u0111\u1ecba ch\u00ednh tr\u1ecb v\u00e0 bi\u1ebfn \u0111\u1ed9ng tr\u00ean th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng.<\/p>\n

\"tin<\/p>\n

**Waller Thay \u0110\u1ed5i Quan \u0110i\u1ec3m: T\u1eeb “Di\u1ec1u H\u00e2u” C\u1eaft Gi\u1ea3m Sang “Ch\u1edd Xem”**<\/p>\n

Tr\u01b0\u1edbc \u0111\u00e2y, Th\u1ed1ng \u0111\u1ed1c Waller c\u1ee7a FED (tr\u1ee5 s\u1edf t\u1ea1i Washington D.C., Hoa K\u1ef3) n\u1ed5i ti\u1ebfng v\u1edbi l\u1eadp tr\u01b0\u1eddng “di\u1ec1u h\u00e2u” (dovish) v\u1ec1 c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t, th\u1eadm ch\u00ed \u00f4ng \u0111\u00e3 ph\u1ea3n \u0111\u1ed1i quy\u1ebft \u0111\u1ecbnh kh\u00f4ng c\u1eaft gi\u1ea3m c\u1ee7a \u1ee6y ban Th\u1ecb tr\u01b0\u1eddng M\u1edf Li\u00ean bang (FOMC) v\u00e0o th\u00e1ng 1. Tuy nhi\u00ean, trong cu\u1ed9c ph\u1ecfng v\u1ea5n g\u1ea7n \u0111\u00e2y v\u1edbi CNBC, \u00f4ng Waller \u0111\u00e3 chuy\u1ec3n sang th\u00e1i \u0111\u1ed9 th\u1eadn tr\u1ecdng h\u01a1n, nh\u1ea5n m\u1ea1nh s\u1ef1 c\u1ea7n thi\u1ebft c\u1ee7a m\u1ed9t c\u00e1ch ti\u1ebfp c\u1eadn b\u1ea3o th\u1ee7. L\u00fd do ch\u00ednh \u0111\u01b0\u1ee3c \u0111\u01b0a ra l\u00e0 nh\u1eefng di\u1ec5n bi\u1ebfn g\u1ea7n \u0111\u00e2y tr\u00ean th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng v\u00e0 s\u1ef1 kh\u00f4ng ch\u1eafc ch\u1eafn t\u1eeb cu\u1ed9c xung \u0111\u1ed9t \u1edf Trung \u0110\u00f4ng, \u0111\u1eb7c bi\u1ec7t l\u00e0 t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn gi\u00e1 d\u1ea7u. \u00d4ng kh\u1eb3ng \u0111\u1ecbnh: “\u0110i\u1ec1u \u0111\u00f3 kh\u00f4ng c\u00f3 ngh\u0129a l\u00e0 t\u00f4i s\u1ebd gi\u1eef nguy\u00ean l\u1eadp tr\u01b0\u1eddng trong ph\u1ea7n c\u00f2n l\u1ea1i c\u1ee7a n\u0103m. T\u00f4i ch\u1ec9 mu\u1ed1n ch\u1edd xem m\u1ecdi chuy\u1ec7n s\u1ebd di\u1ec5n bi\u1ebfn th\u1ebf n\u00e0o, v\u00e0 n\u1ebfu m\u1ecdi th\u1ee9 di\u1ec5n ra t\u01b0\u01a1ng \u0111\u1ed1i t\u1ed1t v\u00e0 th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng ti\u1ebfp t\u1ee5c y\u1ebfu, t\u00f4i s\u1ebd l\u1ea1i \u1ee7ng h\u1ed9 vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t ch\u00ednh s\u00e1ch v\u00e0o cu\u1ed1i n\u0103m nay.”<\/p>\n

S\u1ef1 d\u1ecbch chuy\u1ec3n n\u00e0y t\u1eeb m\u1ed9t trong nh\u1eefng th\u00e0nh vi\u00ean c\u00f3 \u1ea3nh h\u01b0\u1edfng c\u1ee7a FED cho th\u1ea5y nguy c\u01a1 l\u1ea1m ph\u00e1t quay tr\u1edf l\u1ea1i do c\u00e1c y\u1ebfu t\u1ed1 b\u00ean ngo\u00e0i \u0111ang khi\u1ebfn gi\u1edbi ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch ph\u1ea3i c\u00e2n nh\u1eafc k\u1ef9 l\u01b0\u1ee1ng h\u01a1n. T\u00e1c \u0111\u1ed9ng c\u1ee7a b\u1ea5t \u1ed5n \u0111\u1ecba ch\u00ednh tr\u1ecb<\/a> l\u00ean th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh l\u00e0 r\u1ea5t r\u00f5 r\u00e0ng, \u0111\u1eb7c bi\u1ec7t qua gi\u00e1 d\u1ea7u t\u0103ng v\u1ecdt v\u00e0 khung th\u1eddi gian kh\u00f4ng x\u00e1c \u0111\u1ecbnh c\u1ee7a cu\u1ed9c xung \u0111\u1ed9t.<\/p>\n

**Th\u1ecb Tr\u01b0\u1eddng Chung T\u00e1i \u0110\u1ecbnh H\u00ecnh K\u1ef3 V\u1ecdng L\u00e3i Su\u1ea5t**<\/p>\n

Tr\u01b0\u1edbc nh\u1eefng th\u00f4ng tin n\u00e0y, th\u1ecb tr\u01b0\u1eddng \u0111\u00e3 g\u1ea7n nh\u01b0 lo\u1ea1i b\u1ecf ho\u00e0n to\u00e0n kh\u1ea3 n\u0103ng c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t trong ph\u1ea7n c\u00f2n l\u1ea1i c\u1ee7a n\u0103m 2026 v\u00e0 th\u1eadm ch\u00ed k\u00e9o d\u00e0i sang n\u0103m 2027. \u0110\u00e2y l\u00e0 m\u1ed9t s\u1ef1 thay \u0111\u1ed5i \u0111\u00e1ng k\u1ec3 so v\u1edbi k\u1ef3 v\u1ecdng tr\u01b0\u1edbc \u0111\u00f3, khi c\u00e1c nh\u00e0 giao d\u1ecbch d\u1ef1 ki\u1ebfn 2 ho\u1eb7c 3 l\u1ea7n c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t trong n\u0103m nay. Gi\u00e1 d\u1ea7u t\u0103ng cao v\u00e0 s\u1ef1 b\u1ea5t \u0111\u1ecbnh v\u1ec1 th\u1eddi gian k\u00e9o d\u00e0i c\u1ee7a xung \u0111\u1ed9t \u0111\u00e3 l\u00e0m thay \u0111\u1ed5i ho\u00e0n to\u00e0n k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u00e0 bu\u1ed9c c\u00e1c nh\u00e0 ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch nh\u01b0 \u00f4ng Waller ph\u1ea3i suy ngh\u0129 l\u1ea1i.<\/p>\n

**Ph\u00e2n T\u00edch D\u1eef Li\u1ec7u Th\u1ecb Tr\u01b0\u1eddng Lao \u0110\u1ed9ng v\u00e0 L\u1ea1m Ph\u00e1t**<\/p>\n

L\u1eadp tr\u01b0\u1eddng m\u1ec1m m\u1ecfng tr\u01b0\u1edbc \u0111\u00e2y c\u1ee7a \u00f4ng Waller \u0111\u01b0\u1ee3c th\u00fac \u0111\u1ea9y b\u1edfi m\u1ed9t th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng suy y\u1ebfu r\u00f5 r\u1ec7t, v\u1edbi g\u1ea7n nh\u01b0 kh\u00f4ng c\u00f3 s\u1ef1 t\u0103ng tr\u01b0\u1edfng r\u00f2ng vi\u1ec7c l\u00e0m v\u00e0o n\u0103m 2025. Tuy nhi\u00ean, \u00f4ng l\u01b0u \u00fd r\u1eb1ng l\u1ef1c l\u01b0\u1ee3ng lao \u0111\u1ed9ng c\u0169ng kh\u00f4ng m\u1edf r\u1ed9ng, n\u00ean t\u0103ng tr\u01b0\u1edfng “b\u1eb1ng 0” v\u1eabn gi\u1eef t\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p kh\u00f4ng \u0111\u1ed5i, ngay c\u1ea3 khi s\u1ed1 l\u01b0\u1ee3ng vi\u1ec7c l\u00e0m phi n\u00f4ng nghi\u1ec7p gi\u1ea3m **92.000** trong th\u00e1ng 2. \u00d4ng c\u1ea3nh b\u00e1o: “N\u1ebfu ch\u00fang ta nh\u1eadn th\u00eam m\u1ed9t \u0111\u1ee3t gi\u1ea3m vi\u1ec7c l\u00e0m **90.000** n\u1eefa trong b\u00e1o c\u00e1o vi\u1ec7c l\u00e0m ti\u1ebfp theo, \u0111\u00f3 s\u1ebd l\u00e0 4 b\u00e1o c\u00e1o ti\u00eau c\u1ef1c trong s\u1ed1 5 b\u00e1o c\u00e1o. \u0110\u1ed1i v\u1edbi t\u00f4i, \u0111\u00f3 kh\u00f4ng ph\u1ea3i l\u00e0 con s\u1ed1 0. V\u00ec v\u1eady, \u0111\u1ebfn l\u00fac \u0111\u00f3, b\u1ea1n c\u1ea7n b\u1eaft \u0111\u1ea7u ngh\u0129 r\u1eb1ng th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng n\u00e0y kh\u00f4ng t\u1ed1t.”<\/p>\n

V\u1ec1 l\u1ea1m ph\u00e1t, \u00f4ng Waller hi\u1ec7n t\u1ea1i kh\u00e1 l\u1ea1c quan, cho r\u1eb1ng l\u1ea1m ph\u00e1t \u0111ang c\u00f3 xu h\u01b0\u1edbng d\u1ecbch chuy\u1ec3n v\u1ec1 m\u1ee5c ti\u00eau **2%** c\u1ee7a FED. Tuy nhi\u00ean, \u00f4ng lo ng\u1ea1i v\u1ec1 c\u00e1c hi\u1ec7u \u1ee9ng “m\u1ed9t l\u1ea7n” t\u1eeb thu\u1ebf quan c\u00f3 th\u1ec3 \u0111\u1ea9y l\u1ea1m ph\u00e1t l\u00ean cao v\u00e0 t\u00e1c \u0111\u1ed9ng c\u1ee7a xung \u0111\u1ed9t. \u00d4ng \u0111\u1eb7t ra m\u1ed9t c\u00e2u h\u1ecfi h\u00f3c b\u00faa: “N\u1ebfu nh\u1eefng hi\u1ec7u \u1ee9ng thu\u1ebf quan \u0111\u00f3 kh\u00f4ng gi\u1ea3m d\u1ea7n v\u00e0o n\u1eeda cu\u1ed1i n\u0103m, v\u00e0 sau \u0111\u00f3 l\u1ea1m ph\u00e1t b\u1eaft \u0111\u1ea7u t\u0103ng, th\u00ec b\u1ea1n s\u1ebd \u1edf trong t\u00ecnh hu\u1ed1ng kh\u00f3 kh\u0103n: Ch\u00fang ta c\u00f3 n\u00ean lo l\u1eafng v\u1ec1 l\u1ea1m ph\u00e1t? Ch\u1ea5p nh\u1eadn r\u1ee7i ro suy tho\u00e1i hay kh\u00f4ng?”<\/p>\n

**G\u00f3c Nh\u00ecn Tr\u00e1i Chi\u1ec1u: Michelle Bowman V\u1eabn Tin V\u00e0o 3 L\u1ea7n C\u1eaft Gi\u1ea3m**<\/p>\n

Ng\u01b0\u1ee3c l\u1ea1i v\u1edbi s\u1ef1 th\u1eadn tr\u1ecdng c\u1ee7a \u00f4ng Waller, Th\u1ed1ng \u0111\u1ed1c FED Michelle Bowman, ng\u01b0\u1eddi c\u0169ng \u0111\u01b0\u1ee3c c\u1ef1u T\u1ed5ng th\u1ed1ng Donald Trump \u0111\u1ec1 c\u1eed, l\u1ea1i tin r\u1eb1ng FED c\u00f3 th\u1ec3 c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t t\u1edbi **3 l\u1ea7n** trong n\u0103m nay. Quan \u0111i\u1ec3m n\u00e0y \u0111\u01b0\u1ee3c b\u00e0 \u0111\u01b0a ra trong cu\u1ed9c ph\u1ecfng v\u1ea5n v\u1edbi Fox Business, ngay c\u1ea3 khi b\u00e0 d\u1ef1 ki\u1ebfn “t\u0103ng tr\u01b0\u1edfng m\u1ea1nh” trong n\u0103m nay “\u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi c\u00e1c ch\u00ednh s\u00e1ch v\u1ec1 ph\u00eda cung m\u00e0 ch\u00ednh quy\u1ec1n n\u00e0y \u0111ang th\u1ef1c hi\u1ec7n.”<\/p>\n

Quan \u0111i\u1ec3m c\u1ee7a b\u00e0 Bowman kh\u00e1 \u0111\u01a1n \u0111\u1ed9c. Theo b\u1ea3n c\u1eadp nh\u1eadt bi\u1ec3u \u0111\u1ed3 “dot plot” c\u1ee7a FED \u0111\u01b0\u1ee3c c\u00f4ng b\u1ed1 g\u1ea7n \u0111\u00e2y, b\u00e0 l\u00e0 m\u1ed9t trong s\u1ed1 ch\u1ec9 **3 quan ch\u1ee9c** trong t\u1ed5ng s\u1ed1 **19 nh\u00e0 ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch** tham gia v\u00e0o bi\u1ec3u \u0111\u1ed3 n\u00e0y, nh\u1eefng ng\u01b0\u1eddi d\u1ef1 ki\u1ebfn c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t m\u1ea1nh m\u1ebd trong n\u0103m nay.<\/p>\n

S\u1ef1 ph\u00e2n h\u00f3a r\u00f5 r\u1ec7t trong n\u1ed9i b\u1ed9 FED gi\u1eefa l\u1eadp tr\u01b0\u1eddng th\u1eadn tr\u1ecdng c\u1ee7a Waller v\u00e0 quan \u0111i\u1ec3m l\u1ea1c quan h\u01a1n c\u1ee7a Bowman cho th\u1ea5y m\u1ed9t b\u1ee9c tranh th\u1ecb tr\u01b0\u1eddng chung \u0111\u1ea7y bi\u1ebfn \u0111\u1ed9ng v\u00e0 kh\u00f3 l\u01b0\u1eddng. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n theo d\u00f5i s\u00e1t sao d\u1eef li\u1ec7u kinh t\u1ebf v\u00e0 c\u00e1c t\u00edn hi\u1ec7u t\u1eeb FED \u0111\u1ec3 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh ph\u00f9 h\u1ee3p trong b\u1ed1i c\u1ea3nh r\u1ee7i ro \u0111\u1ecba ch\u00ednh tr\u1ecb v\u00e0 kinh t\u1ebf v\u0129 m\u00f4 \u0111ang \u0111\u1ecbnh h\u00ecnh l\u1ea1i k\u1ef3 v\u1ecdng v\u1ec1 ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7.<\/p>\n

Bi\u00ean t\u1eadp: Ph\u1ed1 Wall (Theo ngu\u1ed3n g\u1ed1c)<\/i>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Th\u1ed1ng \u0111\u1ed1c C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang (FED) Christopher Waller, m\u1ed9t g\u01b0\u01a1ng m\u1eb7t t\u1eebng \u1ee7ng h\u1ed9 m\u1ea1nh m\u1ebd vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t, v\u1eeba b\u00e0y t\u1ecf l\u1eadp tr\u01b0\u1eddng th\u1eadn tr\u1ecdng h\u01a1n v\u1ec1 t\u00ecnh h\u00ecnh kinh t\u1ebf hi\u1ec7n t\u1ea1i. D\u00f9 v\u1eabn nh\u00ecn th\u1ea5y c\u01a1 h\u1ed9i n\u1edbi l\u1ecfng ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 v\u00e0o cu\u1ed1i n\u0103m nay, quan […]<\/p>\n","protected":false},"author":1,"featured_media":2756,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":["post-2758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-thi-truong-chung-khoan"],"_links":{"self":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/2758","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=2758"}],"version-history":[{"count":0,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/2758\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media\/2756"}],"wp:attachment":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media?parent=2758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/categories?post=2758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/tags?post=2758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}