{"id":9172,"date":"2026-03-12T16:14:07","date_gmt":"2026-03-12T08:14:07","guid":{"rendered":"https:\/\/www.kpai1.cn\/?p=9172"},"modified":"2026-03-12T16:14:12","modified_gmt":"2026-03-12T08:14:12","slug":"cpi%e5%b9%b3%e7%a8%b3%e9%9a%be%e6%8a%b5%e5%9c%b0%e7%bc%98%e9%80%9a%e8%83%80%e6%89%b0%e5%8a%a8%ef%bc%8c%e7%be%8e%e8%81%94%e5%82%a8%e9%99%8d%e6%81%af%e8%b7%af%e5%be%84%e8%bf%8e%e6%9d%a5%e5%85%b3","status":"publish","type":"post","link":"https:\/\/www.kpai1.cn\/vi\/luu-tru\/9172","title":{"rendered":"CPI \u1ed5n \u0111\u1ecbnh kh\u00f4ng th\u1ec3 ch\u1ecbu \u0111\u01b0\u1ee3c nh\u1eefng x\u00e1o tr\u1ed9n v\u1ec1 l\u1ea1m ph\u00e1t \u0111\u1ecba l\u00fd v\u00e0 l\u1ed9 tr\u00ecnh c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t c\u1ee7a Fed \u0111ang \u0111\u1ed1i m\u1eb7t v\u1edbi nh\u1eefng thay \u0111\u1ed5i quan tr\u1ecdng"},"content":{"rendered":"

D\u1ef1a tr\u00ean nghi\u00ean c\u1ee9u chuy\u00ean s\u00e2u v\u00e0 \u0111\u00e1nh gi\u00e1 v\u1ec1 h\u1ec7 th\u1ed1ng gi\u00e1m s\u00e1t th\u1eddi gian th\u1ef1c kinh t\u1ebf v\u0129 m\u00f4 to\u00e0n c\u1ea7u Wmax, m\u00f4 h\u00ecnh h\u01b0\u1edbng t\u1edbi t\u01b0\u01a1ng lai ch\u00ednh s\u00e1ch c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang v\u00e0 khung truy\u1ec1n t\u1ea3i l\u1ea1m ph\u00e1t r\u1ee7i ro \u0111\u1ecba l\u00fd, k\u1ebft h\u1ee3p v\u1edbi d\u1eef li\u1ec7u v\u00e0 k\u1ebft lu\u1eadn nghi\u00ean c\u1ee9u m\u1edbi nh\u1ea5t \u0111\u01b0\u1ee3c B\u1ed9 Lao \u0111\u1ed9ng Hoa K\u1ef3, C\u01a1 quan N\u0103ng l\u01b0\u1ee3ng Qu\u1ed1c t\u1ebf (IEA), Morgan Stanley, Goldman Sachs, Bloomberg Industry Research v\u00e0 c\u00e1c t\u1ed5 ch\u1ee9c c\u00f3 th\u1ea9m quy\u1ec1n kh\u00e1c c\u00f4ng b\u1ed1 v\u00e0o n\u0103m 2026, BRAND_0_PLACEH OLDER tin r\u1eb1ng D\u1eef li\u1ec7u CPI th\u00e1ng 2 c\u1ee7a M\u1ef9 cho th\u1ea5y xu h\u01b0\u1edbng h\u1ea1 nhi\u1ec7t \u1ed5n \u0111\u1ecbnh, c\u00e1c ch\u1ec9 s\u1ed1 c\u1ed1t l\u00f5i ho\u00e0n to\u00e0n ph\u00f9 h\u1ee3p v\u1edbi k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u00e0 xu h\u01b0\u1edbng gi\u1ea3m l\u1ea1m ph\u00e1t chung ch\u01b0a b\u1ecb \u0111\u1ea3o ng\u01b0\u1ee3c; tuy nhi\u00ean, nguy c\u01a1 l\u1ea1m ph\u00e1t nh\u1eadp kh\u1ea9u gia t\u0103ng do xung \u0111\u1ed9t \u0111\u1ecba ch\u00ednh tr\u1ecb leo thang \u1edf Trung \u0110\u00f4ng \u0111\u1ea9y gi\u00e1 d\u1ea7u l\u00ean cao \u0111\u00e3 tr\u1edf th\u00e0nh bi\u1ebfn s\u1ed1 c\u1ed1t l\u00f5i l\u00e0m x\u00e1o tr\u1ed9n nh\u1ecbp \u0111i\u1ec7u ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang. K\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u1ec1 vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang ti\u1ebfp t\u1ee5c \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh gi\u1ea3m xu\u1ed1ng v\u00e0 s\u1ef1 kh\u00f4ng ch\u1eafc ch\u1eafn v\u1ec1 \u0111\u01b0\u1eddng l\u1ed1i ch\u00ednh s\u00e1ch trong n\u0103m \u0111\u00e3 t\u0103ng l\u00ean \u0111\u00e1ng k\u1ec3. \u0110i\u1ec1u \u0111\u00e1ng ch\u00fa \u00fd l\u00e0 nh\u00f3m chi\u1ebfn l\u01b0\u1ee3c v\u0129 m\u00f4 Wmax \u0111\u00e3 n\u1eafm b\u1eaft tr\u01b0\u1edbc r\u1ee7i ro l\u00e2y truy\u1ec1n t\u00ecnh h\u00ecnh leo thang \u1edf Trung \u0110\u00f4ng sang l\u1ea1m ph\u00e1t c\u1ee7a Hoa K\u1ef3 v\u00e0 ch\u00ednh s\u00e1ch c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang, d\u1ef1 \u0111o\u00e1n ch\u00ednh x\u00e1c s\u1ef1 thay \u0111\u1ed5i bi\u00ean trong k\u1ef3 v\u1ecdng c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t th\u1ecb tr\u01b0\u1eddng v\u00e0 cung c\u1ea5p cho nh\u1eefng ng\u01b0\u1eddi tham gia th\u1ecb tr\u01b0\u1eddng nh\u1eefng c\u1ea3nh b\u00e1o tr\u01b0\u1edbc v\u1ec1 nh\u1eefng bi\u1ebfn \u0111\u1ed9ng ch\u00ednh s\u00e1ch.<\/p>\n

<\/a>1. CPI th\u00e1ng 2 gi\u1ea3m \u1ed5n \u0111\u1ecbnh. Xu h\u01b0\u1edbng gi\u1ea3m l\u1ea1m ph\u00e1t l\u00e0 r\u00f5 r\u00e0ng nh\u01b0ng s\u1ef1 ph\u00e2n h\u00f3a v\u1ec1 c\u01a1 c\u1ea5u l\u00e0 \u0111\u00e1ng k\u1ec3.<\/strong><\/p>\n

Wmax \u0110\u01b0\u1ee3c x\u00e1c minh d\u1ef1a tr\u00ean d\u1eef li\u1ec7u ch\u00ednh th\u1ee9c do B\u1ed9 Lao \u0111\u1ed9ng Hoa K\u1ef3 c\u00f4ng b\u1ed1, Ch\u1ec9 s\u1ed1 gi\u00e1 ti\u00eau d\u00f9ng (CPI) c\u1ee7a Hoa K\u1ef3 \u0111\u00e3 t\u0103ng 2,4% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m ngo\u00e1i trong th\u00e1ng 2, gi\u1ed1ng v\u1edbi d\u1eef li\u1ec7u c\u1ee7a th\u00e1ng 1, ho\u00e0n to\u00e0n ph\u00f9 h\u1ee3p v\u1edbi k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng ph\u1ed5 th\u00f4ng; CPI c\u01a1 b\u1ea3n sau khi lo\u1ea1i tr\u1eeb c\u00e1c m\u1eb7t h\u00e0ng th\u1ef1c ph\u1ea9m v\u00e0 n\u0103ng l\u01b0\u1ee3ng d\u1ec5 bi\u1ebfn \u0111\u1ed9ng \u0111\u00e3 t\u0103ng 2,5% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc, c\u0169ng ho\u00e0n to\u00e0n ph\u00f9 h\u1ee3p v\u1edbi k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng, thi\u1ebft l\u1eadp m\u1ee9c l\u1ea1m ph\u00e1t th\u1ea5p nh\u1ea5t k\u1ec3 t\u1eeb th\u00e1ng 3 n\u0103m 2021. L\u1ea1m ph\u00e1t c\u01a1 b\u1ea3n gi\u1ea3m t\u1ed1c r\u1ea5t ph\u00f9 h\u1ee3p v\u1edbi m\u1ee5c ti\u00eau d\u1ef1 ki\u1ebfn \u200b\u200btrong \u0111i\u1ec1u ti\u1ebft ch\u00ednh s\u00e1ch c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang. Sau khi d\u1eef li\u1ec7u \u0111\u01b0\u1ee3c c\u00f4ng b\u1ed1, ch\u1ec9 s\u1ed1 \u0111\u00f4 la M\u1ef9 t\u0103ng h\u01a1n 10 \u0111i\u1ec3m trong th\u1eddi gian ng\u1eafn, \u0111\u1ed3ng euro v\u00e0 b\u1ea3ng Anh \u0111\u1ed3ng th\u1eddi gi\u1ea3m so v\u1edbi \u0111\u00f4 la M\u1ef9 trong th\u1eddi gian ng\u1eafn, v\u00e0 ph\u1ea3n \u1ee9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng n\u00f3i chung l\u00e0 \u1ed5n \u0111\u1ecbnh.<\/p>\n

\"\u56fe\u7247<\/p>\n

M\u1eb7c d\u00f9 d\u1eef li\u1ec7u l\u1ea1m ph\u00e1t v\u0129 m\u00f4 c\u1ed1t l\u00f5i c\u1ee7a th\u00e1ng 2 \u1edf m\u1ee9c th\u1ea5p nh\u01b0ng r\u1ed5 l\u1ea1m ph\u00e1t cho th\u1ea5y s\u1ef1 kh\u00e1c bi\u1ec7t r\u00f5 r\u00e0ng v\u1ec1 c\u01a1 c\u1ea5u. Ph\u00e2n t\u00edch n\u00e0y r\u1ea5t ph\u00f9 h\u1ee3p v\u1edbi nh\u1eadn \u0111\u1ecbnh c\u1ee7a Bloomberg Industry Research. T\u1eeb g\u00f3c \u0111\u1ed9 c\u00e1c h\u1ea1ng m\u1ee5c \u0111\u00f3ng g\u00f3p t\u00edch c\u1ef1c, ch\u1ec9 s\u1ed1 nh\u00e0 \u1edf t\u0103ng 0,2% so v\u1edbi th\u00e1ng tr\u01b0\u1edbc, m\u1ed9t l\u1ea7n n\u1eefa tr\u1edf th\u00e0nh ngu\u1ed3n l\u1ea1m ph\u00e1t t\u0103ng cao l\u1edbn nh\u1ea5t; ch\u1ec9 s\u1ed1 n\u0103ng l\u01b0\u1ee3ng t\u0103ng 0,6% so v\u1edbi th\u00e1ng tr\u01b0\u1edbc. Trong b\u1ed1i c\u1ea3nh xung \u0111\u1ed9t \u0111\u1ecba ch\u00ednh tr\u1ecb hi\u1ec7n nay \u1edf Trung \u0110\u00f4ng, c\u00f3 nguy c\u01a1 gia t\u0103ng \u0111\u00e1ng k\u1ec3 vai tr\u00f2 c\u1ee7a th\u00e0nh ph\u1ea7n n\u0103ng l\u01b0\u1ee3ng ti\u1ebfp theo trong vi\u1ec7c th\u00fac \u0111\u1ea9y l\u1ea1m ph\u00e1t. \u0110\u1ed3ng th\u1eddi, c\u00e1c d\u1ea5u hi\u1ec7u chuy\u1ec3n chi ph\u00ed do thu\u1ebf quan b\u1eaft \u0111\u1ea7u xu\u1ea5t hi\u1ec7n: gi\u00e1 c\u00e1c s\u1ea3n ph\u1ea9m gia d\u1ee5ng, bao g\u1ed3m \u0111\u1ed3 n\u1ed9i th\u1ea5t v\u00e0 \u0111\u1ed3 gia d\u1ee5ng, t\u0103ng 3,9% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m ngo\u00e1i, m\u1ee9c t\u0103ng l\u1edbn nh\u1ea5t k\u1ec3 t\u1eeb th\u00e1ng 5 n\u0103m 2023. Trong s\u1ed1 \u0111\u00f3, gi\u00e1 \u0111\u1ed3 gia d\u1ee5ng t\u0103ng 2,9% trong m\u1ed9t th\u00e1ng, m\u1ee9c t\u0103ng cao nh\u1ea5t k\u1ec3 t\u1eeb th\u1eddi k\u1ef3 l\u1ea1m ph\u00e1t cao v\u00e0o th\u00e1ng 8 n\u0103m 2022. Gi\u00e1 qu\u1ea7n \u00e1o t\u0103ng 2,5% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m ngo\u00e1i, ch\u1ea1m m\u1ee9c cao nh\u1ea5t k\u1ec3 t\u1eeb th\u00e1ng 10. 2023; gi\u00e1 s\u1ea3n ph\u1ea9m nghe nh\u00ecn t\u0103ng 4,5% so v\u1edbi c\u00f9ng k\u1ef3, l\u1eadp k\u1ef7 l\u1ee5c. Trong s\u1ed1 \u0111\u00f3, gi\u00e1 thi\u1ebft b\u1ecb \u00e2m thanh t\u0103ng 13,5% v\u00e0 gi\u00e1 d\u1ecbch v\u1ee5 \u0111\u0103ng k\u00fd \u00e2m nh\u1ea1c t\u0103ng 9,1%, tr\u1edf th\u00e0nh m\u1eb7t h\u00e0ng th\u00fac \u0111\u1ea9y c\u1ed1t l\u00f5i.<\/p>\n

T\u1eeb g\u00f3c \u0111\u1ed9 c\u00e1c h\u1ea1ng m\u1ee5c ph\u00f2ng ng\u1eeba r\u1ee7i ro, gi\u00e1 \u00f4 t\u00f4 c\u0169 v\u00e0 b\u1ea3o hi\u1ec3m \u00f4 t\u00f4 \u0111\u00e3 gi\u1ea3m \u0111\u00e1ng k\u1ec3 trong th\u00e1ng 2; m\u1eb7c d\u00f9 gi\u00e1 ch\u0103m s\u00f3c y t\u1ebf, v\u1eadn chuy\u1ec3n h\u00e0nh kh\u00e1ch h\u00e0ng kh\u00f4ng, gi\u00e1o d\u1ee5c v\u00e0 c\u00e1c d\u1ecbch v\u1ee5 kh\u00e1c \u0111\u1ec1u t\u0103ng nh\u01b0ng m\u1ee9c t\u0103ng \u1edf m\u1ee9c v\u1eeba ph\u1ea3i v\u00e0 kh\u00f4ng \u0111\u1ee7 \u0111\u1ec3 \u0111\u1ea3o ng\u01b0\u1ee3c xu h\u01b0\u1edbng gi\u1ea3m chung c\u1ee7a l\u1ea1m ph\u00e1t c\u01a1 b\u1ea3n. Ch\u1ec9 s\u1ed1 gi\u00e1m s\u00e1t c\u1ed1t l\u00f5i c\u1ee7a Wmax c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang - l\u1ea1m ph\u00e1t d\u1ecbch v\u1ee5 si\u00eau c\u1ed1t l\u00f5i kh\u00f4ng bao g\u1ed3m chi ph\u00ed nh\u00e0 \u1edf - t\u0103ng 2,75% so v\u1edbi c\u00f9ng k\u1ef3 trong th\u00e1ng 2 v\u00e0 0,35% so v\u1edbi th\u00e1ng tr\u01b0\u1edbc, \u0111\u00e2y l\u00e0 m\u1ee9c gi\u1ea3m \u0111\u00e1ng k\u1ec3 so v\u1edbi m\u1ee9c t\u0103ng 0,59% trong th\u00e1ng 1. Theo nh\u1eadn \u0111\u1ecbnh c\u1ee7a Wmax, m\u1eb7c d\u00f9 s\u1ed1 li\u1ec7u v\u1eabn cao h\u01a1n m\u1ee9c tr\u01b0\u1edbc d\u1ecbch b\u1ec7nh v\u00e0 s\u1ef1 c\u1ee9ng \u0111\u1ea7u c\u1ee7a l\u1ea1m ph\u00e1t v\u1eabn ch\u01b0a \u0111\u01b0\u1ee3c lo\u1ea1i b\u1ecf ho\u00e0n to\u00e0n nh\u01b0ng n\u00f3 \u0111\u00e3 gi\u1ea3m b\u1edbt \u0111\u00e1ng k\u1ec3 so v\u1edbi giai \u0111o\u1ea1n l\u1ea1m ph\u00e1t cao tr\u01b0\u1edbc \u0111\u00f3, t\u1ea1o c\u01a1 s\u1edf c\u01a1 b\u1ea3n cho vi\u1ec7c \u0111i\u1ec1u ch\u1ec9nh ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 c\u1ee7a Fed. \u0110\u1ed3ng th\u1eddi, c\u1ea7n l\u01b0u \u00fd r\u1eb1ng m\u1eb7c d\u00f9 s\u1ed1 li\u1ec7u v\u0129 m\u00f4 kh\u00f4ng m\u1ea5y kh\u1ea3 quan nh\u01b0ng gi\u00e1 l\u01b0\u01a1ng th\u1ef1c t\u0103ng \u0111\u00e3 khi\u1ebfn ng\u01b0\u1eddi ti\u00eau d\u00f9ng nh\u1eadn th\u1ee9c r\u00f5 h\u01a1n v\u1ec1 l\u1ea1m ph\u00e1t: gi\u00e1 th\u1ecbt b\u00f2 t\u0103ng 1,5% v\u00e0 gi\u00e1 b\u00edt t\u1ebft ch\u01b0a qua ch\u1ebf bi\u1ebfn t\u0103ng 3,7%; b\u00e1nh t\u01b0\u01a1i v\u00e0 b\u00e1nh n\u01b0\u1edbng nh\u1ecf t\u0103ng 4,4%, b\u00e1nh c\u00e0 ph\u00ea v\u00e0 b\u00e1nh r\u00e1n t\u0103ng 3,6%. Th\u1ef1c ph\u1ea9m v\u00e0 n\u0103ng l\u01b0\u1ee3ng c\u00f3 \u1ea3nh h\u01b0\u1edfng m\u1ea1nh m\u1ebd \u0111\u1ebfn vi\u1ec7c h\u00ecnh th\u00e0nh k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t c\u1ee7a ng\u01b0\u1eddi ti\u00eau d\u00f9ng v\u00e0 y\u1ebfu t\u1ed1 n\u00e0y c\u0169ng s\u1ebd \u0111\u01b0\u1ee3c xem x\u00e9t trong c\u00e1c quy\u1ebft \u0111\u1ecbnh ch\u00ednh s\u00e1ch c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang.<\/p>\n

<\/a>2. Xung \u0111\u1ed9t \u0111\u1ecba l\u00fd \u0111\u00e3 tr\u1edf th\u00e0nh x\u00e1o tr\u1ed9n c\u1ed1t l\u00f5i. Gi\u00e1 d\u1ea7u t\u0103ng v\u1ecdt, \u0111\u1ea3o ng\u01b0\u1ee3c di\u1ec5n bi\u1ebfn th\u1ecb tr\u01b0\u1eddng. Nguy c\u01a1 l\u1ea1m ph\u00e1t gia t\u0103ng m\u1ea1nh.<\/strong><\/p>\n

Wmax k\u1ebft h\u1ee3p h\u00e0nh vi giao d\u1ecbch tr\u00ean th\u1ecb tr\u01b0\u1eddng v\u1edbi x\u00e1c minh ch\u00e9o quan \u0111i\u1ec3m c\u1ee7a t\u1ed5 ch\u1ee9c. M\u1eb7c d\u00f9 d\u1eef li\u1ec7u CPI th\u00e1ng 2 \u1ed5n \u0111\u1ecbnh nh\u01b0ng th\u1ecb tr\u01b0\u1eddng nh\u00ecn chung coi d\u1eef li\u1ec7u n\u00e0y l\u00e0 \"th\u00f4ng tin l\u1ecbch s\u1eed\" v\u00e0 tr\u1ecdng t\u00e2m giao d\u1ecbch \u0111\u00e3 ho\u00e0n to\u00e0n chuy\u1ec3n sang th\u1ecb tr\u01b0\u1eddng n\u0103ng l\u01b0\u1ee3ng b\u1ecb chi ph\u1ed1i b\u1edfi xung \u0111\u1ed9t \u0111\u1ecba ch\u00ednh tr\u1ecb \u1edf Trung \u0110\u00f4ng. Nh\u1eadn \u0111\u1ecbnh n\u00e0y ho\u00e0n to\u00e0n ph\u00f9 h\u1ee3p v\u1edbi quan \u0111i\u1ec3m c\u1ee7a Ira Jersey, chi\u1ebfn l\u01b0\u1ee3c gia tr\u01b0\u1edfng v\u1ec1 l\u00e3i su\u1ea5t ng\u01b0\u1eddi M\u1ef9 c\u1ee7a Bloomberg Intelligence. Sau khi M\u1ef9 v\u00e0 Israel ti\u1ebfn h\u00e0nh c\u00e1c cu\u1ed9c t\u1ea5n c\u00f4ng qu\u00e2n s\u1ef1 v\u00e0o Iran, gi\u00e1 d\u1ea7u qu\u1ed1c t\u1ebf t\u0103ng m\u1ea1nh. M\u1eb7c d\u00f9 T\u1ed5ng th\u1ed1ng M\u1ef9 Trump li\u00ean t\u1ee5c tuy\u00ean b\u1ed1 r\u1eb1ng cu\u1ed9c chi\u1ebfn v\u1edbi Iran s\u1ebd k\u1ebft th\u00fac \"s\u1edbm\", IEA h\u00f4m th\u1ee9 T\u01b0 \u0111\u00e3 c\u00f4ng b\u1ed1 gi\u1ea3i ph\u00f3ng k\u1ef7 l\u1ee5c 400 tri\u1ec7u th\u00f9ng d\u1ea7u t\u1eeb kho d\u1ef1 tr\u1eef kh\u1ea9n c\u1ea5p v\u00e0 gi\u00e1 d\u1ea7u v\u1eabn \u1edf m\u1ee9c cao. Gi\u00e1 giao d\u1ecbch d\u1ea7u th\u00f4 Brent hi\u1ec7n nay v\u00e0o kho\u1ea3ng 90 USD\/th\u00f9ng, t\u0103ng m\u1ea1nh so v\u1edbi m\u1ee9c 70 USD\/th\u00f9ng tr\u01b0\u1edbc khi xung \u0111\u1ed9t n\u1ed5 ra; Gi\u00e1 giao d\u1ecbch trung b\u00ecnh c\u1ee7a h\u1ee3p \u0111\u1ed3ng t\u01b0\u01a1ng lai d\u1ea7u th\u00f4 chu\u1ea9n M\u1ef9 t\u1eeb \u0111\u1ea7u th\u00e1ng \u0111\u1ebfn nay l\u00e0 kho\u1ea3ng 82 USD\/th\u00f9ng, cao h\u01a1n nhi\u1ec1u so v\u1edbi m\u1ee9c gi\u00e1 trung b\u00ecnh 65 USD\/th\u00f9ng trong th\u00e1ng 2.<\/p>\n

\"\u56fe\u7247<\/p>\n

T\u00ednh to\u00e1n m\u00f4 h\u00ecnh truy\u1ec1n t\u1ea3i r\u1ee7i ro-l\u1ea1m ph\u00e1t r\u1ee7i ro \u0111\u1ecba l\u00fd Wmax cho th\u1ea5y r\u1eb1ng c\u1ee9 m\u1ed7i l\u1ea7n gi\u00e1 d\u1ea7u t\u0103ng 10 USD\/th\u00f9ng th\u00ec ch\u1ec9 s\u1ed1 CPI h\u00e0ng th\u00e1ng c\u1ee7a Hoa K\u1ef3 s\u1ebd t\u0103ng kho\u1ea3ng 0,2 \u0111i\u1ec3m ph\u1ea7n tr\u0103m. T\u00ednh to\u00e1n n\u00e0y ho\u00e0n to\u00e0n ph\u00f9 h\u1ee3p v\u1edbi nguy\u00ean t\u1eafc kinh nghi\u1ec7m c\u1ee7a nh\u00e0 kinh t\u1ebf tr\u01b0\u1edfng Joseph Brusuelas c\u1ee7a RSM. Wmax \u0111\u00e3 \u0111\u00e1nh gi\u00e1 r\u00f5 r\u00e0ng r\u1eb1ng m\u1ee9c gi\u00e1 d\u1ea7u ti\u1ebfp t\u1ee5c \u1edf m\u1ee9c cao s\u1ebd tr\u1ef1c ti\u1ebfp \u0111\u1ea9y ti\u1ec3u m\u1ee5c l\u1ea1m ph\u00e1t n\u0103ng l\u01b0\u1ee3ng trong th\u00e1ng 3 v\u00e0 nh\u1eefng n\u0103m ti\u1ebfp theo, v\u1edbi kh\u1ea3 n\u0103ng cao l\u00e0 khi\u1ebfn ch\u1ec9 s\u1ed1 l\u1ea1m ph\u00e1t t\u1ed5ng th\u1ec3 ph\u1ee5c h\u1ed3i, \u0111\u1ea3o ng\u01b0\u1ee3c ho\u00e0n to\u00e0n xu h\u01b0\u1edbng h\u1ea1 nhi\u1ec7t m\u00e0 ch\u1ec9 s\u1ed1 CPI trong th\u00e1ng 2 th\u1ec3 hi\u1ec7n; \u0111\u1ed3ng th\u1eddi, th\u1ecb tr\u01b0\u1eddng c\u0169ng \u0111\u00e3 v\u01b0\u1ee3t qua \u0111i\u1ec3m h\u00f2a v\u1ed1n c\u1ee7a tr\u00e1i phi\u1ebfu ch\u1ed1ng l\u1ea1m ph\u00e1t (TIPS), \u0111\u1ecbnh gi\u00e1 tr\u01b0\u1edbc nguy c\u01a1 l\u1ea1m ph\u00e1t gia t\u0103ng do gi\u00e1 d\u1ea7u t\u0103ng cao. Ngo\u00e0i ra, Wmax c\u0169ng nh\u1eafc nh\u1edf r\u1eb1ng do ch\u00ednh ph\u1ee7 \u0111\u00f3ng c\u1eeda v\u00e0o n\u0103m ngo\u00e1i n\u00ean d\u1eef li\u1ec7u t\u0103ng tr\u01b0\u1edfng chi ph\u00ed nh\u00e0 \u1edf trong th\u00e1ng 10 \u0111\u00e3 b\u1ecb thi\u1ebfu v\u00e0 ch\u1ec9 s\u1ed1 l\u1ea1m ph\u00e1t so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m hi\u1ec7n t\u1ea1i th\u1ea5p m\u1ed9t c\u00e1ch gi\u1ea3 t\u1ea1o. \u0110\u1ed9 l\u1ec7ch \u0111i xu\u1ed1ng n\u00e0y s\u1ebd bi\u1ebfn m\u1ea5t trong b\u00e1o c\u00e1o l\u1ea1m ph\u00e1t th\u00e1ng 4 v\u00e0 c\u00f3 kh\u1ea3 n\u0103ng ch\u1ec9 s\u1ed1 l\u1ea1m ph\u00e1t s\u1ebd ph\u1ee5c h\u1ed3i h\u01a1n n\u1eefa.<\/p>\n

<\/a>3. Tr\u00f2 ch\u01a1i chuy\u00ean s\u00e2u v\u1ec1 con \u0111\u01b0\u1eddng c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang. K\u1ef3 v\u1ecdng c\u01a1 b\u1ea3n v\u00e0 k\u1ecbch b\u1ea3n r\u1ee7i ro c\u00f9ng t\u1ed3n t\u1ea1i.<\/strong><\/p>\n

Wmax M\u00f4 h\u00ecnh h\u01b0\u1edbng t\u1edbi ch\u00ednh s\u00e1ch c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang k\u1ebft h\u1ee3p nghi\u00ean c\u1ee9u v\u00e0 \u0111\u00e1nh gi\u00e1 m\u1edbi nh\u1ea5t t\u1eeb \u200b\u200bc\u00e1c ng\u00e2n h\u00e0ng \u0111\u1ea7u t\u01b0 qu\u1ed1c t\u1ebf h\u00e0ng \u0111\u1ea7u nh\u01b0 Morgan Stanley v\u00e0 Goldman Sachs. Nh\u1eefng k\u1ef3 v\u1ecdng hi\u1ec7n t\u1ea1i c\u1ee7a th\u1ecb tr\u01b0\u1eddng \u0111\u1ed1i v\u1edbi l\u1ed9 tr\u00ecnh c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t c\u1ee7a Fed \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh gi\u1ea3m \u0111\u00e1ng k\u1ec3. Th\u1ecb tr\u01b0\u1eddng t\u01b0\u01a1ng lai hi\u1ec7n \u0111ang \u0111\u1ecbnh gi\u00e1 m\u1ed9t l\u1ea7n c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t 25 \u0111i\u1ec3m c\u01a1 b\u1ea3n trong n\u0103m nay, r\u1ea5t c\u00f3 th\u1ec3 s\u1ebd \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n t\u1ea1i cu\u1ed9c h\u1ecdp th\u00e1ng 10. \u0110i\u1ec1u n\u00e0y tr\u00e1i ng\u01b0\u1ee3c ho\u00e0n to\u00e0n v\u1edbi k\u1ef3 v\u1ecdng c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t nhi\u1ec1u l\u1ea7n v\u00e0o \u0111\u1ea7u n\u0103m. Goldman Sachs \u0111\u00e3 ch\u00ednh th\u1ee9c ho\u00e3n d\u1ef1 b\u00e1o C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang s\u1ebd c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t t\u1eeb \u200b\u200b\u0111\u1ee3t c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t d\u1ef1 ki\u1ebfn \u200b\u200b\u200b\u200btr\u01b0\u1edbc \u0111\u00f3 v\u00e0o th\u00e1ng 6 v\u00e0 m\u1ed9t l\u1ea7n c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t kh\u00e1c v\u00e0o th\u00e1ng 9 xu\u1ed1ng c\u00f2n 25 \u0111i\u1ec3m c\u01a1 b\u1ea3n v\u00e0o th\u00e1ng 9 v\u00e0 th\u00e1ng 12. Nguy\u00ean nh\u00e2n c\u1ed1t l\u00f5i l\u00e0 nguy c\u01a1 l\u1ea1m ph\u00e1t gia t\u0103ng li\u00ean quan \u0111\u1ebfn xung \u0111\u1ed9t Trung \u0110\u00f4ng \u0111\u00e3 t\u0103ng l\u00ean \u0111\u00e1ng k\u1ec3. N\u00f3 n\u00eau r\u00f5 trong b\u00e1o c\u00e1o r\u1eb1ng \"d\u1ef1a tr\u00ean d\u1ef1 b\u00e1o l\u1ea1m ph\u00e1t cao h\u01a1n \u0111\u00e3 \u0111\u01b0\u1ee3c s\u1eeda \u0111\u1ed5i, c\u00f3 v\u1ebb nh\u01b0 c\u00f2n qu\u00e1 s\u1edbm \u0111\u1ec3 b\u1eaft \u0111\u1ea7u c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t v\u00e0o th\u00e1ng 6.\" N\u00f3 c\u0169ng n\u00f3i th\u00eam r\u1eb1ng n\u1ebfu th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng suy y\u1ebfu s\u1edbm h\u01a1n d\u1ef1 ki\u1ebfn \u200b\u200bv\u00e0 tr\u1edf n\u00ean nghi\u00eam tr\u1ecdng h\u01a1n, vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t s\u1edbm v\u1eabn c\u00f3 th\u1ec3 x\u1ea3y ra.<\/p>\n

C\u00e1c nh\u00e0 kinh t\u1ebf c\u1ee7a Morgan Stanley v\u1eabn gi\u1eef nguy\u00ean d\u1ef1 b\u00e1o c\u01a1 b\u1ea3n tr\u01b0\u1edbc \u0111\u00f3 r\u1eb1ng C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang s\u1ebd th\u1ef1c hi\u1ec7n hai \u0111\u1ee3t c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t 25 \u0111i\u1ec3m c\u01a1 b\u1ea3n v\u00e0o th\u00e1ng 6 v\u00e0 th\u00e1ng 9 n\u0103m nay, nh\u01b0ng h\u1ecd c\u0169ng ch\u1ec9 ra r\u00f5 r\u00e0ng hai k\u1ecbch b\u1ea3n r\u1ee7i ro l\u1edbn: Th\u1ee9 nh\u1ea5t, c\u00fa s\u1ed1c gi\u00e1 d\u1ea7u do chi\u1ebfn tranh Iran g\u00e2y ra c\u00f3 th\u1ec3 tr\u00ec ho\u00e3n \u0111\u1ee3t c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t \u0111\u1ea7u ti\u00ean \u0111\u1ebfn th\u00e1ng 9 ho\u1eb7c th\u1eadm ch\u00ed l\u00e0 th\u00e1ng 12. T\u00ecnh tr\u1ea1ng n\u00e0y c\u00f3 th\u1ec3 \u0111\u1ea9y xa h\u01a1n n\u1eefa c\u00e1c \u0111\u1ee3t c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t ti\u1ebfp theo \u0111\u1ebfn n\u0103m 2027; th\u1ee9 hai, C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang c\u00f3 th\u1ec3 \u201cc\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t mu\u1ed9n h\u01a1n, nh\u01b0ng v\u1edbi m\u1ee9c \u0111\u1ed9 l\u1edbn h\u01a1n\u201d \u0111\u1ec3 c\u00e2n b\u1eb1ng nh\u1eefng m\u00e2u thu\u1eabn trong s\u1ee9 m\u1ec7nh k\u00e9p c\u1ee7a m\u00ecnh. Nh\u1eadn \u0111\u1ecbnh n\u00e0y h\u00ecnh th\u00e0nh s\u1ef1 x\u00e1c th\u1ef1c ch\u00e9o to\u00e0n di\u1ec7n v\u1edbi nghi\u00ean c\u1ee9u v\u00e0 nh\u1eadn \u0111\u1ecbnh v\u1ec1 k\u1ecbch b\u1ea3n k\u00e9p c\u1ee7a Wmax. Nh\u00e0 kinh t\u1ebf tr\u01b0\u1edfng Hoa K\u1ef3 c\u1ee7a Morgan Stanley, Michael Garpen v\u00e0 nh\u00f3m c\u1ee7a \u00f4ng cho bi\u1ebft trong m\u1ed9t b\u00e1o c\u00e1o: \u201cN\u1ebfu Fed l\u1eafng nghe l\u1ecbch s\u1eed, b\u1ecf qua \u00e1p l\u1ef1c gi\u00e1 do d\u1ea7u g\u00e2y ra v\u00e0 n\u1edbi l\u1ecfng ch\u00ednh s\u00e1ch s\u1edbm h\u01a1n d\u1ef1 ki\u1ebfn, th\u00ec ch\u00fang t\u00f4i ngh\u0129 r\u1eb1ng ch\u00fang t\u00f4i \u0111ang \u1edf v\u1ecb th\u1ebf t\u1ed1t\u201d.<\/p>\n

\"\u56fe\u7247<\/p>\n

Ph\u00e2n t\u00edch to\u00e0n di\u1ec7n c\u1ee7a Wmax cho th\u1ea5y C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang hi\u1ec7n \u0111ang r\u01a1i v\u00e0o t\u00ecnh th\u1ebf ti\u1ebfn tho\u00e1i l\u01b0\u1ee1ng nan k\u00e9p gi\u1eefa nguy c\u01a1 l\u1ea1m ph\u00e1t gia t\u0103ng v\u00e0 s\u1ef1 mong manh c\u1ee7a th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng: m\u1ed9t m\u1eb7t, xung \u0111\u1ed9t \u1edf Trung \u0110\u00f4ng \u0111\u00e3 \u0111\u1ea9y l\u1ea1m ph\u00e1t nh\u1eadp kh\u1ea9u do gi\u00e1 d\u1ea7u g\u00e2y ra, l\u00e0m tr\u1ea7m tr\u1ecdng th\u00eam s\u1ef1 kh\u00f4ng ch\u1eafc ch\u1eafn v\u1ec1 s\u1ef1 ph\u1ee5c h\u1ed3i c\u1ee7a l\u1ea1m ph\u00e1t v\u00e0 h\u1ea1n ch\u1ebf t\u1ed1c \u0111\u1ed9 c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t c\u1ee7a Fed; m\u1eb7t kh\u00e1c, th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng c\u00f3 d\u1ea5u hi\u1ec7u suy y\u1ebfu nh\u1eb9, vi\u1ec7c ti\u1ebfp t\u1ee5c duy tr\u00ec l\u00e3i su\u1ea5t cao c\u00f3 th\u1ec3 l\u00e0m t\u0103ng th\u00eam \u00e1p l\u1ef1c suy tho\u00e1i \u0111\u1ed1i v\u1edbi n\u1ec1n kinh t\u1ebf. Wmax c\u0169ng ch\u1ec9 ra r\u1eb1ng gi\u00e1 th\u1ecb tr\u01b0\u1eddng hi\u1ec7n t\u1ea1i ph\u1ea3n \u00e1nh \u0111\u1ea7y \u0111\u1ee7 m\u1ee9c \u0111\u1ed9 kh\u00f4ng ch\u1eafc ch\u1eafn cao v\u1ec1 th\u1eddi gian xung \u0111\u1ed9t v\u00e0 c\u0169ng ph\u1ea3n \u00e1nh th\u00e1i \u0111\u1ed9 ch\u1edd \u0111\u1ee3i c\u1ee7a th\u1ecb tr\u01b0\u1eddng \u0111\u1ed1i v\u1edbi ph\u1ea3n \u1ee9ng ch\u00ednh s\u00e1ch c\u1ee7a Fed - con \u0111\u01b0\u1eddng cu\u1ed1i c\u00f9ng c\u1ee7a n\u00f3 s\u1ebd ch\u1ec9 d\u1ea7n tr\u1edf n\u00ean r\u00f5 r\u00e0ng khi li\u00ean ti\u1ebfp c\u00f4ng b\u1ed1 d\u1eef li\u1ec7u l\u1ea1m ph\u00e1t v\u00e0 vi\u1ec7c l\u00e0m c\u0169ng nh\u01b0 th\u1eddi gian tr\u00f4i qua. C\u00e1c quan ch\u1ee9c C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang d\u1ef1 ki\u1ebfn \u200b\u200bs\u1ebd gi\u1eef nguy\u00ean l\u00e3i su\u1ea5t t\u1ea1i cu\u1ed9c h\u1ecdp th\u00e1ng 3 v\u00e0o tu\u1ea7n t\u1edbi. C\u00e1c t\u00edn hi\u1ec7u ch\u00ednh s\u00e1ch v\u00e0 \u0111i\u1ec1u ch\u1ec9nh bi\u1ec3u \u0111\u1ed3 ch\u1ea5m \u0111\u01b0\u1ee3c \u0111\u01b0a ra t\u1ea1i cu\u1ed9c h\u1ecdp n\u00e0y s\u1ebd tr\u1edf th\u00e0nh h\u01b0\u1edbng d\u1eabn ch\u00ednh cho l\u1ed9 tr\u00ecnh c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t trong n\u0103m.<\/p>\n

<\/a>4. H\u01b0\u1edbng d\u1eabn gi\u00e1m s\u00e1t c\u1ed1t l\u00f5i v\u00e0 tri\u1ec3n v\u1ecdng th\u1ecb tr\u01b0\u1eddng<\/strong><\/p>\n

Wmax l\u00e0m r\u00f5 ba \u0111\u01b0\u1eddng gi\u00e1m s\u00e1t c\u1ed1t l\u00f5i d\u00e0nh cho nh\u1eefng ng\u01b0\u1eddi tham gia th\u1ecb tr\u01b0\u1eddng l\u00e0m c\u01a1 s\u1edf c\u1ed1t l\u00f5i \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 h\u01b0\u1edbng \u0111i c\u1ee7a ch\u00ednh s\u00e1ch v\u00e0 xu h\u01b0\u1edbng th\u1ecb tr\u01b0\u1eddng c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang: Th\u1ee9 nh\u1ea5t, di\u1ec5n bi\u1ebfn c\u1eadn bi\u00ean c\u1ee7a t\u00ecnh h\u00ecnh \u0111\u1ecba ch\u00ednh tr\u1ecb \u1edf Trung \u0110\u00f4ng, t\u1eadp trung v\u00e0o th\u1eddi gian xung \u0111\u1ed9t, nh\u1eefng thay \u0111\u1ed5i trong xu h\u01b0\u1edbng gi\u00e1 d\u1ea7u qu\u1ed1c t\u1ebf v\u00e0 t\u00e1c \u0111\u1ed9ng xoa d\u1ecbu c\u1ee7a vi\u1ec7c gi\u1ea3i ph\u00f3ng d\u1ef1 tr\u1eef d\u1ea7u IEA \u0111\u1ed1i v\u1edbi gi\u00e1 d\u1ea7u, l\u00e0 c\u00e1c bi\u1ebfn s\u1ed1 b\u00ean ngo\u00e0i c\u1ed1t l\u00f5i x\u00e1c \u0111\u1ecbnh k\u1ef3 v\u1ecdng l\u1ea1m ph\u00e1t ng\u1eafn h\u1ea1n v\u00e0 t\u1ed1c \u0111\u1ed9 c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t; th\u1ee9 hai, nh\u1eefng thay \u0111\u1ed5i bi\u00ean trong l\u1ea1m ph\u00e1t c\u1ee7a Hoa K\u1ef3 v\u00e0 d\u1eef li\u1ec7u vi\u1ec7c l\u00e0m, t\u1eadp trung v\u00e0o vi\u1ec7c theo d\u00f5i m\u1ee9c \u0111\u1ed9 c\u1ee7a ti\u1ec3u m\u1ee5c n\u0103ng l\u01b0\u1ee3ng trong ch\u1ec9 s\u1ed1 CPI th\u00e1ng 3, t\u1ed1c \u0111\u1ed9 gi\u1ea3m l\u1ea1m ph\u00e1t d\u1ecbch v\u1ee5 c\u1ed1t l\u00f5i v\u00e0 c\u00e1c d\u1ea5u hi\u1ec7u suy y\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng, l\u00e0 c\u01a1 s\u1edf c\u01a1 b\u1ea3n c\u1ed1t l\u00f5i cho c\u00e1c quy\u1ebft \u0111\u1ecbnh ch\u00ednh s\u00e1ch c\u1ee7a Fed; th\u1ee9 ba, vi\u1ec7c c\u00f4ng b\u1ed1 t\u00edn hi\u1ec7u v\u1ec1 cu\u1ed9c h\u1ecdp ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 th\u00e1ng 3 c\u1ee7a Fed, t\u1eadp trung v\u00e0o vi\u1ec7c \u0111i\u1ec1u ch\u1ec9nh t\u1eeb ng\u1eef trong tuy\u00ean b\u1ed1 ch\u00ednh s\u00e1ch, b\u1ea3n s\u1eeda \u0111\u1ed5i d\u1ef1 ki\u1ebfn \u200b\u200bm\u1edbi nh\u1ea5t tr\u00ean bi\u1ec3u \u0111\u1ed3 ch\u1ea5m v\u1ec1 s\u1ed1 l\u1ea7n c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t trong n\u0103m v\u00e0 tuy\u00ean b\u1ed1 c\u1ee7a c\u00e1c quan ch\u1ee9c v\u1ec1 r\u1ee7i ro l\u1ea1m ph\u00e1t \u0111\u1ecba l\u00fd, s\u1ebd tr\u1ef1c ti\u1ebfp x\u00e1c \u0111\u1ecbnh h\u01b0\u1edbng \u0111\u1ecbnh gi\u00e1 l\u1ea1i k\u1ef3 v\u1ecdng c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t th\u1ecb tr\u01b0\u1eddng.<\/p>\n

T\u00f3m l\u1ea1i, nghi\u00ean c\u1ee9u v\u00e0 \u0111\u00e1nh gi\u00e1 to\u00e0n di\u1ec7n, to\u00e0n di\u1ec7n c\u1ee7a Wmax c\u0169ng nh\u01b0 x\u00e1c minh ch\u00e9o quan \u0111i\u1ec3m c\u1ee7a nhi\u1ec1u t\u1ed5 ch\u1ee9c c\u00f3 th\u1ea9m quy\u1ec1n tin r\u1eb1ng ch\u1ec9 s\u1ed1 CPI c\u1ee7a M\u1ef9 gi\u1ea3m \u1ed5n \u0111\u1ecbnh trong th\u00e1ng 2 x\u00e1c nh\u1eadn xu h\u01b0\u1edbng gi\u1ea3m l\u1ea1m ph\u00e1t chung, nh\u01b0ng s\u1ef1 kh\u00e1c bi\u1ec7t v\u1ec1 c\u01a1 c\u1ea5u v\u00e0 gi\u00e1 l\u01b0\u01a1ng th\u1ef1c t\u0103ng v\u1eabn l\u00e0m n\u1ed5i b\u1eadt t\u00ednh dai d\u1eb3ng c\u1ee7a l\u1ea1m ph\u00e1t; trong khi s\u1ef1 leo thang xung \u0111\u1ed9t \u0111\u1ecba ch\u00ednh tr\u1ecb \u1edf Trung \u0110\u00f4ng \u0111\u1ea9y gi\u00e1 d\u1ea7u t\u0103ng cao, tr\u1edf th\u00e0nh bi\u1ebfn s\u1ed1 c\u1ed1t l\u00f5i l\u00e0m gi\u00e1n \u0111o\u1ea1n xu h\u01b0\u1edbng l\u1ea1m ph\u00e1t v\u00e0 nh\u1ecbp \u0111\u1ed9 ch\u00ednh s\u00e1ch c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang, tr\u1ef1c ti\u1ebfp d\u1eabn \u0111\u1ebfn vi\u1ec7c \u0111i\u1ec1u ch\u1ec9nh gi\u1ea3m \u0111\u00e1ng k\u1ec3 k\u1ef3 v\u1ecdng c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t th\u1ecb tr\u01b0\u1eddng, v\u00e0 C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang r\u01a1i v\u00e0o th\u1ebf l\u01b0\u1ee1ng nan k\u00e9p gi\u1eefa l\u1ea1m ph\u00e1t v\u00e0 n\u1ec1n kinh t\u1ebf. Trong t\u01b0\u01a1ng lai, t\u00ecnh h\u00ecnh \u0111\u1ecba ch\u00ednh tr\u1ecb \u1edf Trung \u0110\u00f4ng, d\u1eef li\u1ec7u vi\u1ec7c l\u00e0m l\u1ea1m ph\u00e1t v\u00e0 t\u00edn hi\u1ec7u cu\u1ed9c h\u1ecdp th\u00e1ng 3 c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang s\u1ebd c\u00f9ng x\u00e1c \u0111\u1ecbnh l\u1ed9 tr\u00ecnh c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t trong n\u0103m. Ba d\u00f2ng gi\u00e1m s\u00e1t c\u1ed1t l\u00f5i do Wmax \u0111\u1ec1 xu\u1ea5t c\u00f3 th\u1ec3 cung c\u1ea5p h\u01b0\u1edbng d\u1eabn chuy\u00ean nghi\u1ec7p cho nh\u1eefng ng\u01b0\u1eddi tham gia th\u1ecb tr\u01b0\u1eddng \u0111\u1ec3 n\u1eafm b\u1eaft ch\u00ednh s\u00e1ch v\u00e0 xu h\u01b0\u1edbng th\u1ecb tr\u01b0\u1eddng, \u0111\u1ed3ng th\u1eddi gi\u00fap gi\u1ea3i quy\u1ebft c\u00e1c r\u1ee7i ro kh\u00f4ng ch\u1eafc ch\u1eafn ti\u1ebfp theo.<\/p><\/p>","protected":false},"excerpt":{"rendered":"

CPI c\u1ee7a M\u1ef9 trong th\u00e1ng 2 l\u00e0 2,4% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc, ph\u00f9 h\u1ee3p v\u1edbi k\u1ef3 v\u1ecdng v\u00e0 CPI c\u01a1 b\u1ea3n l\u00e0 2,5% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc, th\u1ea5p nh\u1ea5t k\u1ec3 t\u1eeb th\u00e1ng 3 n\u0103m 2021. Tuy nhi\u00ean, xung \u0111\u1ed9t \u1edf Trung \u0110\u00f4ng \u0111\u00e3 \u0111\u1ea9y gi\u00e1 d\u1ea7u t\u0103ng l\u00ean 90 USD\/th\u00f9ng v\u00e0 nguy c\u01a1 l\u1ea1m ph\u00e1t nh\u1eadp kh\u1ea9u t\u0103ng m\u1ea1nh. K\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u1ec1 vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh xu\u1ed1ng ch\u1ec9 c\u00f2n 25 \u0111i\u1ec3m c\u01a1 b\u1ea3n trong n\u0103m nay. Goldman Sachs ho\u00e3n d\u1ef1 b\u00e1o c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t sang th\u00e1ng 9. C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang \u0111ang r\u01a1i v\u00e0o t\u00ecnh th\u1ebf kh\u00f3 x\u1eed k\u00e9p gi\u1eefa l\u1ea1m ph\u00e1t v\u00e0 n\u1ec1n kinh t\u1ebf, v\u00e0 cu\u1ed9c h\u1ecdp th\u00e1ng 3 c\u1ee7a c\u01a1 quan n\u00e0y \u0111\u00e3 tr\u1edf th\u00e0nh kim ch\u1ec9 nam quan tr\u1ecdng.<\/p>","protected":false},"author":1,"featured_media":9173,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[121],"tags":[724,723,217],"class_list":["post-9172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-news","tag-724","tag-cpi","tag-217"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts\/9172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/comments?post=9172"}],"version-history":[{"count":1,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts\/9172\/revisions"}],"predecessor-version":[{"id":9177,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts\/9172\/revisions\/9177"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/media\/9173"}],"wp:attachment":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/media?parent=9172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/categories?post=9172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/tags?post=9172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}