{"id":3038,"date":"2026-04-19T02:18:32","date_gmt":"2026-04-18T19:18:32","guid":{"rendered":"https:\/\/taichinhphowall.com\/index.php\/2026\/04\/19\/phan-tich-lam-phat-ha-nhiet-bo-truong-tai-chinh-my-tu-tin-fed-se-cat-giam-lai-suat-du-co-ap-luc-chinh-tri-2\/"},"modified":"2026-04-19T02:18:32","modified_gmt":"2026-04-18T19:18:32","slug":"phan-tich-lam-phat-ha-nhiet-bo-truong-tai-chinh-my-tu-tin-fed-se-cat-giam-lai-suat-du-co-ap-luc-chinh-tri-2","status":"publish","type":"post","link":"https:\/\/taichinhphowall.com\/index.php\/2026\/04\/19\/phan-tich-lam-phat-ha-nhiet-bo-truong-tai-chinh-my-tu-tin-fed-se-cat-giam-lai-suat-du-co-ap-luc-chinh-tri-2\/","title":{"rendered":"Ph\u00e2n T\u00edch: L\u1ea1m Ph\u00e1t H\u1ea1 Nhi\u1ec7t, B\u1ed9 Tr\u01b0\u1edfng T\u00e0i Ch\u00ednh M\u1ef9 T\u1ef1 Tin Fed S\u1ebd C\u1eaft Gi\u1ea3m L\u00e3i Su\u1ea5t D\u00f9 C\u00f3 \u00c1p L\u1ef1c Ch\u00ednh Tr\u1ecb"},"content":{"rendered":"<div>\n<p>B\u1ed9 tr\u01b0\u1edfng T\u00e0i ch\u00ednh Hoa K\u1ef3 Scott Bessent m\u1edbi \u0111\u00e2y \u0111\u00e3 b\u00e0y t\u1ecf s\u1ef1 tin t\u01b0\u1edfng m\u1ea1nh m\u1ebd r\u1eb1ng l\u1ea1m ph\u00e1t s\u1ebd ti\u1ebfp t\u1ee5c h\u1ea1 nhi\u1ec7t trong n\u0103m nay, t\u1ea1o \u0111i\u1ec1u ki\u1ec7n thu\u1eadn l\u1ee3i \u0111\u1ec3 C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang (Fed) c\u00f3 th\u1ec3 xem x\u00e9t c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t. Tuy nhi\u00ean, \u00f4ng c\u0169ng th\u1eeba nh\u1eadn s\u1ef1 th\u1eadn tr\u1ecdng c\u1ee7a c\u00e1c nh\u00e0 ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 Fed khi t\u00e1c \u0111\u1ed9ng t\u1eeb cu\u1ed9c chi\u1ebfn Iran v\u1eabn ch\u01b0a ho\u00e0n to\u00e0n r\u00f5 r\u00e0ng.<\/p>\n<h2>Di\u1ec5n Bi\u1ebfn L\u1ea1m Ph\u00e1t v\u00e0 Quan \u0110i\u1ec3m C\u1ee7a Scott Bessent<\/h2>\n<p>Ph\u00e1t bi\u1ec3u t\u1ea1i H\u1ed9i ngh\u1ecb Kinh t\u1ebf Th\u1ebf gi\u1edbi Semafor \u1edf Washington, D.C., B\u1ed9 tr\u01b0\u1edfng Bessent kh\u1eb3ng \u0111\u1ecbnh: &#8220;T\u00f4i r\u1ea5t t\u1ef1 tin r\u1eb1ng l\u1ea1m ph\u00e1t c\u01a1 b\u1ea3n&#8230; v\u1ed1n \u0111ang \u0111\u01b0\u1ee3c ki\u1ec3m so\u00e1t kh\u00e1 t\u1ed1t v\u00e0 th\u1ef1c t\u1ebf \u0111ang gi\u1ea3m \u1edf nhi\u1ec1u h\u1ea1ng m\u1ee5c, s\u1ebd ti\u1ebfp t\u1ee5c \u0111i xu\u1ed1ng.&#8221; \u00d4ng b\u1ed5 sung: &#8220;T\u00f4i tin r\u1eb1ng l\u00e3i su\u1ea5t n\u00ean \u0111\u01b0\u1ee3c c\u1eaft gi\u1ea3m, nh\u01b0ng n\u1ebfu h\u1ecd mu\u1ed1n ch\u1edd \u0111\u1ee3i s\u1ef1 r\u00f5 r\u00e0ng h\u01a1n, t\u00f4i hi\u1ec3u \u0111i\u1ec1u \u0111\u00f3.&#8221;<\/p>\n<p>Nh\u1eefng nh\u1eadn \u0111\u1ecbnh n\u00e0y \u0111\u01b0\u1ee3c \u0111\u01b0a ra sau khi d\u1eef li\u1ec7u g\u1ea7n \u0111\u00e2y cho th\u1ea5y gi\u00e1 ti\u00eau d\u00f9ng \u0111\u00e3 t\u0103ng <strong>0.9%<\/strong> v\u00e0 gi\u00e1 s\u1ea3n xu\u1ea5t t\u0103ng <strong>0.5%<\/strong> trong th\u00e1ng 3. \u0110\u00e1ng ch\u00fa \u00fd, ph\u1ea7n l\u1edbn m\u1ee9c t\u0103ng n\u00e0y \u0111\u1ebfn t\u1eeb chi ph\u00ed n\u0103ng l\u01b0\u1ee3ng leo thang k\u1ec3 t\u1eeb khi cu\u1ed9c chi\u1ebfn Iran b\u00f9ng n\u1ed5 v\u00e0o cu\u1ed1i th\u00e1ng 2. Tuy nhi\u00ean, l\u1ea1m ph\u00e1t c\u01a1 b\u1ea3n \u2013 v\u1ed1n lo\u1ea1i tr\u1eeb c\u00e1c m\u1eb7t h\u00e0ng d\u1ec5 bi\u1ebfn \u0111\u1ed9ng nh\u01b0 n\u0103ng l\u01b0\u1ee3ng v\u00e0 th\u1ef1c ph\u1ea9m \u2013 l\u1ea1i t\u1ecf ra &#8220;hi\u1ec1n h\u00f2a&#8221; h\u01a1n \u0111\u00e1ng k\u1ec3, ch\u1ec9 t\u0103ng <strong>0.2%<\/strong> \u1edf ph\u00eda ng\u01b0\u1eddi ti\u00eau d\u00f9ng v\u00e0 <strong>0.1%<\/strong> \u1edf ph\u00eda b\u00e1n bu\u00f4n, theo d\u1eef li\u1ec7u t\u1eeb C\u1ee5c Th\u1ed1ng k\u00ea Lao \u0111\u1ed9ng.<\/p>\n<p>Bessent c\u0169ng ch\u1ec9 ra r\u1eb1ng l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu Kho b\u1ea1c \u0111\u00e3 gi\u1ea3m, ph\u1ea3n \u00e1nh k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t th\u1ea5p h\u01a1n khi l\u1ec7nh ng\u1eebng b\u1eafn \u0111\u00e3 d\u1eabn \u0111\u1ebfn s\u1ef1 s\u1ee5t gi\u1ea3m m\u1ea1nh c\u1ee7a gi\u00e1 d\u1ea7u. \u0110\u00e2y l\u00e0 m\u1ed9t t\u00edn hi\u1ec7u t\u00edch c\u1ef1c cho th\u1ea5y th\u1ecb tr\u01b0\u1eddng \u0111ang \u0111\u1ecbnh gi\u00e1 kh\u1ea3 n\u0103ng l\u1ea1m ph\u00e1t \u0111\u01b0\u1ee3c ki\u1ec3m so\u00e1t.<\/p>\n<h2>C\u01a1 H\u1ed9i v\u00e0 R\u1ee7i Ro \u0110\u1ea7u T\u01b0<\/h2>\n<p>Vi\u1ec7c l\u1ea1m ph\u00e1t c\u01a1 b\u1ea3n \u0111\u01b0\u1ee3c ki\u1ec3m so\u00e1t t\u1ed1t v\u00e0 k\u1ef3 v\u1ecdng c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t c\u1ee7a Fed mang \u0111\u1ebfn c\u1ea3 c\u01a1 h\u1ed9i v\u00e0 r\u1ee7i ro cho nh\u00e0 \u0111\u1ea7u t\u01b0:<\/p>\n<ul>\n<li><strong>C\u01a1 h\u1ed9i:<\/strong>\n<ul>\n<li><strong>Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n:<\/strong> N\u1ebfu Fed c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t, c\u00e1c c\u00f4ng ty, \u0111\u1eb7c bi\u1ec7t l\u00e0 c\u00e1c c\u00f4ng ty t\u0103ng tr\u01b0\u1edfng, s\u1ebd h\u01b0\u1edfng l\u1ee3i t\u1eeb chi ph\u00ed vay th\u1ea5p h\u01a1n v\u00e0 tri\u1ec3n v\u1ecdng kinh t\u1ebf s\u00e1ng s\u1ee7a h\u01a1n. \u0110i\u1ec1u n\u00e0y c\u00f3 th\u1ec3 th\u00fac \u0111\u1ea9y \u0111\u00e0 t\u0103ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n.<\/li>\n<li><strong>Th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu:<\/strong> L\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu Kho b\u1ea1c gi\u1ea3m, ph\u1ea3n \u00e1nh k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t th\u1ea5p h\u01a1n v\u00e0 kh\u1ea3 n\u0103ng Fed c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t, c\u00f3 th\u1ec3 mang l\u1ea1i l\u1ee3i nhu\u1eadn v\u1ed1n cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 tr\u00e1i phi\u1ebfu hi\u1ec7n t\u1ea1i.<\/li>\n<li><strong>B\u1ea5t \u0111\u1ed9ng s\u1ea3n:<\/strong> L\u00e3i su\u1ea5t th\u1ebf ch\u1ea5p th\u1ea5p h\u01a1n c\u00f3 th\u1ec3 k\u00edch th\u00edch th\u1ecb tr\u01b0\u1eddng b\u1ea5t \u0111\u1ed9ng s\u1ea3n.<\/li>\n<\/ul>\n<\/li>\n<li><strong>R\u1ee7i ro:<\/strong>\n<ul>\n<li><strong>Bi\u1ebfn \u0111\u1ed9ng n\u0103ng l\u01b0\u1ee3ng:<\/strong> M\u1eb7c d\u00f9 gi\u00e1 d\u1ea7u \u0111\u00e3 gi\u1ea3m do ng\u1eebng b\u1eafn, xung \u0111\u1ed9t \u0111\u1ecba ch\u00ednh tr\u1ecb v\u1eabn ti\u1ec1m \u1ea9n r\u1ee7i ro khi\u1ebfn gi\u00e1 n\u0103ng l\u01b0\u1ee3ng t\u0103ng tr\u1edf l\u1ea1i, \u0111\u1ea9y l\u1ea1m ph\u00e1t t\u1ed5ng th\u1ec3 l\u00ean cao v\u00e0 bu\u1ed9c Fed ph\u1ea3i tr\u00ec ho\u00e3n vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t.<\/li>\n<li><strong>S\u1ef1 th\u1eadn tr\u1ecdng c\u1ee7a Fed:<\/strong> D\u00f9 Bessent t\u1ef1 tin, Fed v\u1eabn c\u00f3 th\u1ec3 gi\u1eef l\u1eadp tr\u01b0\u1eddng th\u1eadn tr\u1ecdng v\u00e0 tr\u00ec ho\u00e3n vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t l\u00e2u h\u01a1n d\u1ef1 ki\u1ebfn \u0111\u1ec3 \u0111\u1ea3m b\u1ea3o l\u1ea1m ph\u00e1t b\u1ec1n v\u1eefng tr\u1edf v\u1ec1 m\u1ee5c ti\u00eau 2%. \u0110i\u1ec1u n\u00e0y c\u00f3 th\u1ec3 t\u1ea1o ra s\u1ef1 th\u1ea5t v\u1ecdng tr\u00ean th\u1ecb tr\u01b0\u1eddng.<\/li>\n<li><strong>\u00c1p l\u1ef1c ch\u00ednh tr\u1ecb:<\/strong> Nh\u01b0 s\u1ebd ph\u00e2n t\u00edch b\u00ean d\u01b0\u1edbi, c\u00e1c y\u1ebfu t\u1ed1 ch\u00ednh tr\u1ecb c\u00f3 th\u1ec3 g\u00e2y nhi\u1ec5u lo\u1ea1n cho qu\u00e1 tr\u00ecnh ra quy\u1ebft \u0111\u1ecbnh c\u1ee7a Fed.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2>\u00c1p L\u1ef1c Ch\u00ednh Tr\u1ecb v\u00e0 T\u01b0\u01a1ng Lai C\u1ee7a Fed<\/h2>\n<p>B\u00ean c\u1ea1nh c\u00e1c y\u1ebfu t\u1ed1 kinh t\u1ebf, Fed c\u00f2n \u0111\u1ed1i m\u1eb7t v\u1edbi nh\u1eefng \u00e1p l\u1ef1c ch\u00ednh tr\u1ecb \u0111\u00e1ng k\u1ec3. Nhi\u1ec7m k\u1ef3 Ch\u1ee7 t\u1ecbch Fed Jerome Powell s\u1ebd k\u1ebft th\u00fac v\u00e0o th\u00e1ng 5, nh\u01b0ng \u00f4ng c\u00f3 th\u1ec3 ph\u1ea3i t\u1ea1i v\u1ecb l\u00e2u h\u01a1n n\u1ebfu \u1ee9ng c\u1eed vi\u00ean c\u1ee7a c\u1ef1u T\u1ed5ng th\u1ed1ng Trump, Kevin Warsh (ng\u01b0\u1eddi m\u00e0 Bessent \u0111\u00e3 gi\u00fap l\u1ef1a ch\u1ecdn), kh\u00f4ng \u0111\u01b0\u1ee3c Th\u01b0\u1ee3ng vi\u1ec7n x\u00e1c nh\u1eadn k\u1ecbp th\u1eddi. Th\u01b0\u1ee3ng ngh\u1ecb s\u0129 Thom Tillis (R-N.C.) \u0111\u00e3 tuy\u00ean b\u1ed1 s\u1ebd ch\u1eb7n cu\u1ed9c b\u1ecf phi\u1ebfu cho Warsh cho \u0111\u1ebfn khi c\u00f4ng t\u1ed1 vi\u00ean Jeanine Pirro k\u1ebft th\u00fac cu\u1ed9c \u0111i\u1ec1u tra h\u00ecnh s\u1ef1 ch\u1ed1ng l\u1ea1i Powell li\u00ean quan \u0111\u1ebfn vi\u1ec7c v\u01b0\u1ee3t chi ph\u00ed x\u00e2y d\u1ef1ng c\u1ee7a Fed.<\/p>\n<p>B\u1ea3n th\u00e2n Ch\u1ee7 t\u1ecbch Powell \u0111\u00e3 cho r\u1eb1ng cu\u1ed9c \u0111i\u1ec1u tra n\u00e0y \u0111\u01b0\u1ee3c thi\u1ebft k\u1ebf \u0111\u1ec3 g\u00e2y \u00e1p l\u1ef1c l\u00ean \u00f4ng b\u1edfi ch\u00ednh quy\u1ec1n Trump v\u00ec \u0111\u00e3 kh\u00f4ng c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t m\u1ea1nh h\u01a1n. \u0110\u00e2y l\u00e0 m\u1ed9t minh ch\u1ee9ng r\u00f5 r\u00e0ng v\u1ec1 s\u1ef1 ph\u1ee9c t\u1ea1p v\u00e0 \u00e1p l\u1ef1c ch\u00ednh tr\u1ecb m\u00e0 Fed ph\u1ea3i \u0111\u1ed1i m\u1eb7t khi c\u1ed1 g\u1eafng duy tr\u00ec s\u1ef1 \u0111\u1ed9c l\u1eadp trong vi\u1ec7c th\u1ef1c hi\u1ec7n nhi\u1ec7m v\u1ee5 k\u00e9p: \u1ed5n \u0111\u1ecbnh gi\u00e1 c\u1ea3 v\u00e0 t\u1ed1i \u0111a h\u00f3a vi\u1ec7c l\u00e0m. \u0110\u1ec3 hi\u1ec3u r\u00f5 h\u01a1n v\u1ec1 c\u00e1c y\u1ebfu t\u1ed1 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn quy\u1ebft \u0111\u1ecbnh c\u1ee7a Fed, b\u1ea1n c\u00f3 th\u1ec3 tham kh\u1ea3o th\u00eam c\u00e1c <a href=\"\/danh-muc\/chinh-sach-tien-te\" title=\"B\u00e0i vi\u1ebft v\u1ec1 ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7\">ph\u00e2n t\u00edch chuy\u00ean s\u00e2u v\u1ec1 ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 c\u1ee7a Fed<\/a>.<\/p>\n<h2>Tri\u1ec3n V\u1ecdng Ch\u00ednh S\u00e1ch Ti\u1ec1n T\u1ec7<\/h2>\n<p>M\u1eb7c d\u00f9 B\u1ed9 tr\u01b0\u1edfng Bessent \u0111\u00e3 nhi\u1ec1u l\u1ea7n b\u00e0y t\u1ecf quan \u0111i\u1ec3m r\u1eb1ng Fed n\u00ean nhanh ch\u00f3ng c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t, coi \u0111\u00f3 l\u00e0 &#8220;th\u00e0nh ph\u1ea7n duy nh\u1ea5t c\u00f2n thi\u1ebfu \u0111\u1ec3 t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf m\u1ea1nh m\u1ebd h\u01a1n&#8221;, nh\u01b0ng \u00f4ng c\u0169ng th\u1eeba nh\u1eadn s\u1ef1 th\u1eadn tr\u1ecdng c\u1ee7a Fed. Th\u1ecb tr\u01b0\u1eddng t\u01b0\u01a1ng lai qu\u1ef9 li\u00ean bang hi\u1ec7n t\u1ea1i d\u1ef1 b\u00e1o Fed s\u1ebd gi\u1eef nguy\u00ean l\u00e3i su\u1ea5t trong n\u0103m nay, v\u1edbi kh\u1ea3 n\u0103ng t\u0103ng l\u00e3i su\u1ea5t l\u00e0 r\u1ea5t th\u1ea5p. Bessent nh\u1eadn \u0111\u1ecbnh r\u1eb1ng &#8220;Th\u00e1ng 1 v\u00e0 th\u00e1ng 2 \u2013 n\u1ec1n kinh t\u1ebf r\u1ea5t m\u1ea1nh,&#8221; cho th\u1ea5y d\u00f9 c\u00f3 nh\u1eefng lo ng\u1ea1i v\u1ec1 l\u1ea1m ph\u00e1t, t\u0103ng tr\u01b0\u1edfng v\u1eabn v\u1eefng ch\u1eafc.<\/p>\n<p>Trong b\u1ed1i c\u1ea3nh l\u1ea1m ph\u00e1t c\u01a1 b\u1ea3n h\u1ea1 nhi\u1ec7t nh\u01b0ng l\u1ea1m ph\u00e1t t\u1ed5ng th\u1ec3 v\u1eabn b\u1ecb \u1ea3nh h\u01b0\u1edfng b\u1edfi chi ph\u00ed n\u0103ng l\u01b0\u1ee3ng, c\u00f9ng v\u1edbi \u00e1p l\u1ef1c ch\u00ednh tr\u1ecb ng\u00e0y c\u00e0ng t\u0103ng, Fed \u0111ang \u1edf m\u1ed9t v\u1ecb th\u1ebf kh\u00f3 kh\u0103n. Quy\u1ebft \u0111\u1ecbnh c\u1ee7a h\u1ecd trong nh\u1eefng th\u00e1ng t\u1edbi s\u1ebd c\u00f3 t\u00e1c \u0111\u1ed9ng s\u00e2u r\u1ed9ng \u0111\u1ebfn th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh v\u00e0 n\u1ec1n kinh t\u1ebf to\u00e0n c\u1ea7u.<\/p>\n<p style=\"text-align: right; margin-top: 20px;\"><i>Ngu\u1ed3n tin: cnbc.com<\/i><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>B\u1ed9 tr\u01b0\u1edfng T\u00e0i ch\u00ednh Hoa K\u1ef3 Scott Bessent m\u1edbi \u0111\u00e2y \u0111\u00e3 b\u00e0y t\u1ecf s\u1ef1 tin t\u01b0\u1edfng m\u1ea1nh m\u1ebd r\u1eb1ng l\u1ea1m ph\u00e1t s\u1ebd ti\u1ebfp t\u1ee5c h\u1ea1 nhi\u1ec7t trong n\u0103m nay, t\u1ea1o \u0111i\u1ec1u ki\u1ec7n thu\u1eadn l\u1ee3i \u0111\u1ec3 C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang (Fed) c\u00f3 th\u1ec3 xem x\u00e9t c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t. Tuy nhi\u00ean, \u00f4ng c\u0169ng th\u1eeba nh\u1eadn [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41],"tags":[],"class_list":["post-3038","post","type-post","status-publish","format-standard","hentry","category-tin-tuc-fed"],"_links":{"self":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/3038","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=3038"}],"version-history":[{"count":0,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/3038\/revisions"}],"wp:attachment":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media?parent=3038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/categories?post=3038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/tags?post=3038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}