{"id":9918,"date":"2026-05-14T15:25:39","date_gmt":"2026-05-14T07:25:39","guid":{"rendered":"https:\/\/www.kpai1.cn\/?p=9918"},"modified":"2026-05-14T15:25:43","modified_gmt":"2026-05-14T07:25:43","slug":"%e6%b2%83%e4%bb%80%e7%9a%84%e9%ad%94%e6%b3%95%e7%bb%84%e5%90%88%e6%8b%b3%ef%bc%9a%e7%be%8e%e8%81%94%e5%82%a8%e5%8d%b3%e5%b0%86%e9%a2%a0%e8%a6%86%e4%bd%a0%e7%9a%84%e9%99%8d%e6%81%af","status":"publish","type":"post","link":"https:\/\/www.kpai1.cn\/vi\/luu-tru\/9918","title":{"rendered":"\u201cCombo ma thu\u1eadt\u201d c\u1ee7a Warsh: Fed s\u1eafp l\u1eadt ng\u01b0\u1ee3c k\u1ef3 v\u1ecdng c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t c\u1ee7a b\u1ea1n!"},"content":{"rendered":"

Th\u1ecb tr\u01b0\u1eddng to\u00e0n c\u1ea7u hi\u1ec7n \u0111ang r\u01a1i v\u00e0o \"giai \u0111o\u1ea1n x\u00e9 n\u00e1t d\u1ef1 \u0111o\u00e1n\" do nhi\u1ec5u d\u1eef li\u1ec7u, xung l\u1ef1c \u0111\u1ecba ch\u00ednh tr\u1ecb v\u00e0 chuy\u1ec3n giao quy\u1ec1n l\u1ef1c. Nh\u1eefng g\u00ec c\u00f3 v\u1ebb l\u00e0 \u201ctr\u00f2 ch\u01a1i hai chi\u1ec1u\u201d v\u1ec1 c\u01a1 b\u1ea3n l\u00e0 th\u1ecb tr\u01b0\u1eddng \u0111ang t\u00ecm ki\u1ebfm m\u1ed9t \u201cng\u01b0\u1eddi d\u1eabn d\u1eaft c\u00e2u chuy\u1ec7n\u201d nh\u1ea5t qu\u00e1n.<\/p>\n

B\u1ed3 c\u00e2u \u0111\u1ed1i ngh\u1ecbch: L\u1ed9t b\u1ecf l\u1edbp ng\u1ee5y trang \u201cGoldilocks\u201d <\/strong><\/p>\n

Gi\u1eefa nh\u1eefng l\u1eddi k\u00eau g\u1ecdi c\u1ee7a phe di\u1ec1u h\u00e2u, s\u1ef1 ki\u00ean tr\u00ec c\u1ee7a Citigroup v\u00e0 Mitsubishi UFJ kh\u00f4ng ph\u1ea3i l\u00e0 s\u1ef1 l\u1ea1c quan m\u00f9 qu\u00e1ng m\u00e0 d\u1ef1a tr\u00ean vi\u1ec7c ki\u1ec3m tra \"vi m\u00f4\" c\u00e1c d\u1eef li\u1ec7u kinh t\u1ebf c\u01a1 b\u1ea3n \u1edf Hoa K\u1ef3. Wmax \u0111\u1ed3ng \u00fd v\u1edbi logic n\u00e0y v\u00e0 \u0111\u00e0o s\u00e2u n\u00f3 v\u00e0o ba b\u00e3i m\u00ecn \u1ea9n sau:<\/p>\n

\"\u0110\u00e1nh<\/p>\n

Vi\u1ec7c l\u00e0m Nh\u00e0 s\u1ea3n xu\u1ea5t G\u00f3a ph\u1ee5 Th\u01b0\u01a1ng m\u1ea1i:<\/strong><\/p>\n

T\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p ch\u00ednh th\u1ee9c \u1edf m\u1ee9c 4,3% l\u00e0 c\u1ef1c k\u1ef3 l\u1eeba \u0111\u1ea3o. B\u1ee9c tranh th\u1ef1c t\u1ebf l\u00e0 \"cung v\u00e0 c\u1ea7u ti\u00eau di\u1ec7t k\u00e9p\" - t\u1ef7 l\u1ec7 tham gia l\u1ef1c l\u01b0\u1ee3ng lao \u0111\u1ed9ng gi\u1ea3m (c\u01a1 c\u1ea5u d\u00e2n s\u1ed1 gi\u00e0 \u0111i\/h\u1eadu qu\u1ea3 c\u1ee7a COVID-19), c\u00f9ng v\u1edbi vi\u1ec7c doanh nghi\u1ec7p ng\u1eebng tuy\u1ec3n d\u1ee5ng. Tr\u1ea1ng th\u00e1i \u1ed5n \u0111\u1ecbnh n\u00e0y gi\u1ed1ng nh\u01b0 m\u1ed9t l\u00e2u \u0111\u00e0i tr\u00ean kh\u00f4ng trung. M\u1ed9t khi nh\u1eefng c\u00fa s\u1ed1c b\u00ean ngo\u00e0i (ch\u1eb3ng h\u1ea1n nh\u01b0 l\u1ea1m ph\u00e1t n\u0103ng l\u01b0\u1ee3ng) bu\u1ed9c t\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p v\u01b0\u1ee3t qua ng\u01b0\u1ee1ng t\u00e2m l\u00fd 4,5%, th\u1ecb tr\u01b0\u1eddng s\u1ebd ngay l\u1eadp t\u1ee9c chuy\u1ec3n t\u1eeb c\u00e2u chuy\u1ec7n \u201ch\u1ea1 c\u00e1nh m\u1ec1m\u201d sang ho\u1ea3ng lo\u1ea1n \u201ch\u1ea1 c\u00e1nh c\u1ee9ng\u201d, bu\u1ed9c C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang ph\u1ea3i th\u1ef1c hi\u1ec7n chuy\u1ec3n h\u01b0\u1edbng kh\u1ea9n c\u1ea5p.<\/p>\n

\u201cAI nh\u1ea3y b\u1eb1ng m\u1ed9t ch\u00e2n\u201d c\u1ee7a GDP:<\/strong><\/p>\n

T\u1ed1c \u0111\u1ed9 t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf g\u1ea7n 2% c\u00f3 v\u1ebb v\u1eefng ch\u1eafc, nh\u01b0ng sau khi d\u1ee1 b\u1ecf n\u00f3, ng\u01b0\u1eddi ta th\u1ea5y r\u1eb1ng g\u1ea7n m\u1ed9t n\u1eeda c\u1ed5 t\u1ee9c \u0111\u01b0\u1ee3c chi cho c\u00e1c kho\u1ea3n chi v\u1ed1n li\u00ean quan \u0111\u1ebfn AI. \u0110\u00e2y l\u00e0 m\u1ed9t d\u1ea1ng \"b\u1ecdng m\u1eaft\" c\u1ef1c k\u1ef3 t\u1eadp trung. C\u00e1c l\u0129nh v\u1ef1c kh\u00e1c c\u1ee7a n\u1ec1n kinh t\u1ebf ph\u1ed5 r\u1ed9ng (nh\u01b0 s\u1ea3n xu\u1ea5t, d\u1ecbch v\u1ee5 ti\u00eau d\u00f9ng) th\u1ef1c s\u1ef1 \u0111ang g\u1eb7p kh\u00f3 kh\u0103n trong v\u0169ng l\u1ea7y l\u00e3i su\u1ea5t cao. N\u1ebfu \u0111\u1ea7u t\u01b0 v\u00e0o AI ch\u1eadm l\u1ea1i m\u1ed9t ch\u00fat, c\u1ea5u tr\u00fac c\u01a1 b\u1ea3n c\u1ee7a n\u1ec1n kinh t\u1ebf M\u1ef9 s\u1ebd b\u1ed9c l\u1ed9 ho\u00e0n to\u00e0n b\u1ea3n ch\u1ea5t \u201cquy\u1ec1n l\u1ef1c b\u00ean ngo\u00e0i m\u1ea1nh nh\u01b0ng quy\u1ec1n l\u1ef1c trung gian y\u1ebfu\u201d.<\/p>\n

\u201cThanh ki\u1ebfm Damocles\u201d v\u1ec1 hi\u1ec7u \u1ee9ng tr\u1ec5 ch\u00ednh s\u00e1ch:<\/strong><\/p>\n

L\u00e3i su\u1ea5t cao hi\u1ec7n nay kh\u00f4ng ch\u1ec9 l\u00e0 b\u1ee9c m\u00e0n s\u1eaft ch\u1eb7n \u0111\u1ee9ng c\u00e1c doanh nghi\u1ec7p v\u1eeba v\u00e0 nh\u1ecf m\u00e0 c\u00f2n ti\u1ebfp t\u1ee5c h\u00fat b\u1ea5t \u0111\u1ed9ng s\u1ea3n th\u01b0\u01a1ng m\u1ea1i (CRE). Vi\u1ec7c Citigroup v\u00e0 Mitsubishi UFJ \u0111\u1eb7t c\u01b0\u1ee3c v\u00e0o vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t v\u1ec1 c\u01a1 b\u1ea3n l\u00e0 \u0111\u1ecbnh gi\u00e1 tr\u01b0\u1edbc \u201c\u0111i\u1ec3m b\u00f9ng ph\u00e1t c\u1ee7a s\u1ef1 mong manh v\u1ec1 t\u00e0i ch\u00ednh\u201d.<\/p>\n

\"\u0110\u00e1nh<\/p>\n

C\u1ed9ng h\u01b0\u1edfng di\u1ec1u h\u00e2u: B\u00f3ng ma l\u1ea1m ph\u00e1t tr\u1edf l\u1ea1i v\u00e0 \u201chi\u1ec7u \u1ee9ng tr\u00fa \u1ea9n an to\u00e0n\u201d c\u1ee7a \u0111\u1ed3ng \u0111\u00f4 la <\/strong><\/p>\n

Ng\u01b0\u1ee3c l\u1ea1i v\u1edbi phong tr\u00e0o \u201cchu\u1ea9n b\u1ecb cho m\u1ed9t ng\u00e0y m\u01b0a\u201d \u00f4n h\u00f2a, c\u00e1c g\u00e3 kh\u1ed5ng l\u1ed3 Ph\u1ed1 Wall do Goldman Sachs \u0111\u1ea1i di\u1ec7n \u0111ang ti\u1ebfn h\u00e0nh m\u1ed9t \u201cC\u1eadp nh\u1eadt Bayesian\u201d t\u00e0n nh\u1eabn - li\u00ean t\u1ee5c \u0111i\u1ec1u ch\u1ec9nh c\u00e1c x\u00e1c su\u1ea5t d\u1ef1a tr\u00ean th\u00f4ng tin m\u1edbi v\u00e0 c\u00e1c t\u00edn hi\u1ec7u m\u1edbi nh\u1ea5t \u0111\u1ec1u c\u00f3 m\u00e0u \u0111\u1ecf.<\/p>\n

CPI th\u00e1ng 4: H\u00f2n \u0111\u00e1 \u0111\u1eadp tan gi\u1ea5c m\u01a1 \u201cgi\u1ea3m ph\u00e1t\u201d<\/strong><\/p>\n

Xu h\u01b0\u1edbng t\u0103ng nhanh c\u1ee7a s\u1ed1 li\u1ec7u l\u1ea1m ph\u00e1t \u0111\u00e3 ho\u00e0n to\u00e0n \u0111\u00e1nh th\u1ee9c \u201ctinh th\u1ea7n \u0111\u1ed9ng v\u1eadt\u201d c\u1ee7a th\u1ecb tr\u01b0\u1eddng tr\u00e1i phi\u1ebfu. C\u00e1c nh\u00e0 giao d\u1ecbch b\u1eaft \u0111\u1ea7u \u0111\u1ecbnh gi\u00e1 l\u1ea1i m\u1ed9t c\u00e1ch \u0111i\u00ean cu\u1ed3ng, v\u1edbi th\u1ecb tr\u01b0\u1eddng ho\u00e1n \u0111\u1ed5i l\u00e3i su\u1ea5t th\u1eadm ch\u00ed c\u00f2n \u0111\u1eb7t c\u01b0\u1ee3c v\u00e0o vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t 25 \u0111i\u1ec3m c\u01a1 b\u1ea3n v\u00e0o th\u00e1ng 4 n\u0103m sau (v\u1edbi x\u00e1c su\u1ea5t t\u0103ng v\u1ecdt l\u00ean 85%). C\u00e1c v\u1ecb th\u1ebf ph\u00f2ng ng\u1eeba r\u1ee7i ro kh\u1ed5ng l\u1ed3 trong th\u1ecb tr\u01b0\u1eddng quy\u1ec1n ch\u1ecdn SOFR th\u1eadm ch\u00ed c\u00f2n l\u00e0 d\u1ea5u hi\u1ec7u cho th\u1ea5y nh\u1eefng g\u00e3 kh\u1ed5ng l\u1ed3 \u1edf Ph\u1ed1 Wall \u0111ang mua \"b\u1ea3o hi\u1ec3m th\u1ea3m h\u1ecda\" cho \"s\u1ef1 th\u1eaft ch\u1eb7t b\u1ea5t ng\u1edd\".<\/p>\n

L\u00fd thuy\u1ebft \u201cN\u1ee5 c\u01b0\u1eddi \u0111\u1ed3ng \u0111\u00f4 la\u201d c\u1ee7a Goldman Sachs xu\u1ea5t hi\u1ec7n tr\u1edf l\u1ea1i:<\/strong><\/p>\n

Logic c\u1ee7a Goldman Sachs trong vi\u1ec7c l\u1ea1c quan v\u1ec1 \u0111\u1ed3ng \u0111\u00f4 la M\u1ef9 l\u00e0 ho\u00e0n h\u1ea3o. M\u1ed9t m\u1eb7t, \u201cChi\u1ebfn tranh Iran + C\u00fa s\u1ed1c n\u0103ng l\u01b0\u1ee3ng\u201d \u0111\u00e3 \u0111\u1ea9y tr\u1ea7n l\u1ea1m ph\u00e1t to\u00e0n c\u1ea7u l\u00ean cao; m\u1eb7t kh\u00e1c, Hoa K\u1ef3, v\u1edbi t\u01b0 c\u00e1ch l\u00e0 nh\u00e0 s\u1ea3n xu\u1ea5t d\u1ea7u l\u1edbn nh\u1ea5t th\u1ebf gi\u1edbi, kh\u00f4ng ch\u1ec9 tr\u00e1nh \u0111\u01b0\u1ee3c n\u1ed7i \u0111au do c\u1eaft gi\u1ea3m ngu\u1ed3n cung n\u0103ng l\u01b0\u1ee3ng m\u00e0 c\u00f2n \u0111\u01b0\u1ee3c h\u01b0\u1edfng l\u1ee3i t\u1eeb s\u1ef1 c\u1ea3i thi\u1ec7n c\u00e1c \u0111i\u1ec1u ki\u1ec7n th\u01b0\u01a1ng m\u1ea1i do gi\u00e1 d\u1ea7u t\u0103ng mang l\u1ea1i. Trong b\u1ed1i c\u1ea3nh t\u00e2m l\u00fd lo ng\u1ea1i r\u1ee7i ro to\u00e0n c\u1ea7u ng\u00e0y c\u00e0ng gia t\u0103ng, c\u00e1c qu\u1ef9 kh\u00f4ng c\u00f3 l\u1ef1a ch\u1ecdn n\u00e0o kh\u00e1c ngo\u00e0i vi\u1ec7c \u0111\u1ed5 ti\u1ec1n v\u00e0o \u0111\u1ed3ng \u0111\u00f4 la M\u1ef9.<\/p>\n

\"\u0110\u00e1nh<\/p>\n

C\u00e1c bi\u1ebfn s\u1ed1 trong chuy\u1ec3n giao quy\u1ec1n l\u1ef1c: \u201cTr\u00f2 ch\u01a1i c\u1eeda s\u1ed5 h\u1eb9p\u201d c\u1ee7a Kevin Warsh <\/strong><\/p>\n

Kevin Warsh, ch\u1ee7 t\u1ecbch s\u1eafp t\u1edbi c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang, l\u00e0 \u201cthi\u00ean nga \u0111en\u201d l\u1edbn nh\u1ea5t ph\u00e1 v\u1ee1 th\u1ebf b\u1ebf t\u1eafc hi\u1ec7n t\u1ea1i. Wmax k\u1ebft h\u1ee3p n\u1ec1n t\u1ea3ng di\u1ec1u h\u00e2u trong l\u1ecbch s\u1eed v\u1edbi th\u1ef1c t\u1ebf hi\u1ec7n t\u1ea1i \u0111\u1ec3 ph\u00e1c th\u1ea3o ch\u00e2n dung ch\u00ednh s\u00e1ch c\u1ee7a m\u00ecnh:<\/p>\n

S\u1ef1 k\u1ebft h\u1ee3p b\u1ea5t \u0111\u1ed1i x\u1ee9ng gi\u1eefa \u201cgi\u1ea3m b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n + c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t\u201d:<\/strong><\/p>\n

Warsh \u0111\u01b0\u1ee3c bi\u1ebft \u0111\u1ebfn l\u00e0 ng\u01b0\u1eddi c\u00f3 \u00e1c c\u1ea3m v\u1edbi l\u1ea1m ph\u00e1t v\u00e0 \u1ee7ng h\u1ed9 vi\u1ec7c th\u1eaft ch\u1eb7t b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n. \u00d4ng r\u1ea5t c\u00f3 th\u1ec3 s\u1ebd \u0111\u01b0a ra m\u1ed9t khu\u00f4n kh\u1ed5 ch\u00ednh s\u00e1ch m\u1edbi: h\u1ea1n ch\u1ebf thanh kho\u1ea3n r\u1ed9ng r\u00e3i (ch\u1ed1ng l\u1ea1m ph\u00e1t) th\u00f4ng qua vi\u1ec7c gi\u1ea3m m\u1ea1nh b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n, \u0111\u1ed3ng th\u1eddi c\u1eaft gi\u1ea3m nh\u1eb9 l\u00e3i su\u1ea5t \u0111\u1ec3 gi\u1ea3m b\u1edbt \u00e1p l\u1ef1c d\u1ef1 tr\u1eef \u0111\u1ed1i v\u1edbi c\u00e1c ng\u00e2n h\u00e0ng th\u01b0\u01a1ng m\u1ea1i. K\u1ef9 thu\u1eadt k\u1ebft h\u1ee3p \"m\u1ed9t l\u1ecfng v\u00e0 m\u1ed9t ch\u1eb7t\" n\u00e0y s\u1ebd thu h\u00fat th\u1ecb tr\u01b0\u1eddng \u0111\u00e3 quen v\u1edbi s\u1ef1 \u0111\u1ed1i l\u1eadp nh\u1ecb ph\u00e2n \"QE\/QT\" truy\u1ec1n th\u1ed1ng ch\u01b0a \u0111\u01b0\u1ee3c chu\u1ea9n b\u1ecb.<\/p>\n

Chu k\u1ef3 ch\u00ednh tr\u1ecb v\u00e0 cu\u1ed9c \u0111\u1ea5u tranh gi\u00e0nh \u0111\u1ed9c l\u1eadp:<\/strong><\/p>\n

M\u1eb7c d\u00f9 c\u00e1 nh\u00e2n nghi\u00eang v\u1ec1 vi\u1ec7c n\u1edbi l\u1ecfng, Warsh ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi FOMC b\u1ecb chia r\u1ebd v\u00e0 l\u1ea1m ph\u00e1t cao dai d\u1eb3ng. C\u1ed1 g\u1eafng l\u1eadt ng\u01b0\u1ee3c t\u00ecnh th\u1ebf m\u1ed9t c\u00e1ch m\u1ea1nh m\u1ebd t\u1ea1i m\u1ed9t cu\u1ed9c h\u1ecdp v\u00e0o th\u00e1ng 6 ho\u1eb7c th\u00e1ng 7 c\u0169ng gi\u1ed1ng nh\u01b0 th\u1eafp m\u1ed9t que di\u00eam trong m\u1eaft m\u1ed9t c\u01a1n b\u00e3o. Vi\u1ec7c \u00f4ng nh\u1eadm ch\u1ee9c s\u1ebd kh\u00f4ng ngay l\u1eadp t\u1ee9c d\u1eabn t\u1edbi vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t nh\u01b0ng s\u1ebd mang l\u1ea1i \u201cs\u1ef1 bi\u1ebfn \u0111\u1ed9ng l\u1edbn nh\u01b0 d\u1ef1 ki\u1ebfn\u201d.<\/p>\n

<\/p>\n

H\u01b0\u1edbng d\u1eabn giao d\u1ecbch c\u01a1 b\u1ea3n c\u1ee7a Wmax: Ba k\u1ecbch b\u1ea3n trong 3-6 th\u00e1ng t\u1edbi <\/strong><\/p>\n

M\u1ee5c ti\u00eau cu\u1ed1i c\u00f9ng c\u1ee7a nghi\u00ean c\u1ee9u v\u0129 m\u00f4 l\u00e0 h\u01b0\u1edbng d\u1eabn ph\u00e2n b\u1ed5 t\u00e0i s\u1ea3n. Wmax khuy\u1ebfn ngh\u1ecb n\u00ean t\u1eeb b\u1ecf nh\u1eefng d\u1ef1 \u0111o\u00e1n \u201c\u0111en tr\u1eafng\u201d c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u00e0 thay v\u00e0o \u0111\u00f3 h\u00e3y \u00e1p d\u1ee5ng<\/p>\n

T\u01b0 duy \"c\u00e2y k\u1ecbch b\u1ea3n\", h\u00e3y ch\u00fa \u00fd \u0111\u1ebfn ba manh m\u1ed1i c\u1ed1t l\u00f5i \u1edf tr\u00ean.<\/p>\n

Trong ng\u1eafn h\u1ea1n, theo logic \u201c\u0111\u1ed3ng \u0111\u00f4 la m\u1ea1nh\u201d c\u1ee7a Goldman Sachs, mua v\u00e0o c\u00e1c \u0111\u1ed3ng ti\u1ec1n y\u1ebfu nh\u01b0 \u0111\u1ed3ng krona c\u1ee7a Th\u1ee5y \u0110i\u1ec3n v\u00e0 \u0111\u1ed3ng euro v\u1eabn l\u00e0 chi\u1ebfn l\u01b0\u1ee3c c\u00f3 t\u1ef7 l\u1ec7 th\u1eafng cao h\u01a1n; tuy nhi\u00ean, ng\u01b0\u1eddi ta c\u1ea7n lu\u00f4n \u0111\u1eb7t ng\u00f3n tay l\u00ean \"n\u00fat tho\u00e1t\". M\u1ed9t khi c\u00f3 nh\u1eefng \"v\u1ebft n\u1ee9t\" trong d\u1eef li\u1ec7u t\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p ti\u1ebfp t\u1ee5c x\u1ea5u \u0111i, c\u00e1c quan \u0111i\u1ec3m di\u1ec1u h\u00e2u n\u00ean \u0111\u01b0\u1ee3c \u0111\u00f3ng l\u1ea1i m\u1ed9t c\u00e1ch d\u1ee9t kho\u00e1t v\u00e0 logic v\u1ec1 \"k\u1ef3 v\u1ecdng c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t\" c\u1ee7a Citigroup n\u00ean \u0111\u01b0\u1ee3c thay \u0111\u1ed5i. \u200bTrong b\u1ed1i c\u1ea3nh c\u00e1c quan \u0111i\u1ec3m th\u1ec3 ch\u1ebf kh\u00e1c nhau v\u00e0 k\u1ef3 v\u1ecdng dao \u0111\u1ed9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng, Wmax s\u1ebd ti\u1ebfp t\u1ee5c gi\u00fap b\u1ea1n v\u01b0\u1ee3t qua nhi\u1ec5u d\u1eef li\u1ec7u v\u00e0 n\u1eafm b\u1eaft \u0111\u01b0\u1ee3c xu h\u01b0\u1edbng \u0111\u1ecbnh gi\u00e1 ch\u00ednh th\u1ef1c s\u1ef1.<\/p>","protected":false},"excerpt":{"rendered":"

Warsh s\u1eafp \u0111\u1ea3m nh\u1eadn v\u1ecb tr\u00ed ch\u1ee7 t\u1ecbch C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang v\u00e0 c\u00f3 th\u1ec3 tung ra s\u1ef1 k\u1ebft h\u1ee3p b\u1ea5t \u0111\u1ed1i x\u1ee9ng gi\u1eefa c\u1eaft gi\u1ea3m b\u1ea3ng c\u00e2n \u0111\u1ed1i k\u1ebf to\u00e1n + c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t, l\u00e0m \u0111\u1ea3o l\u1ed9n k\u1ef3 v\u1ecdng c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u1ec1 vi\u1ec7c c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t. CPI \u0111\u00e3 \u0111\u1ea9y nhanh xu h\u01b0\u1edbng t\u0103ng trong th\u00e1ng 4 v\u00e0 c\u00e1c giao d\u1ecbch ho\u00e1n \u0111\u1ed5i l\u00e3i su\u1ea5t \u0111\u1eb7t c\u01b0\u1ee3c v\u00e0o x\u00e1c su\u1ea5t 85% v\u1ec1 vi\u1ec7c t\u0103ng l\u00e3i su\u1ea5t th\u00eam 25 \u0111i\u1ec3m c\u01a1 b\u1ea3n tr\u01b0\u1edbc th\u00e1ng 4 n\u0103m sau. D\u1eef li\u1ec7u vi\u1ec7c l\u00e0m che gi\u1ea5u r\u1ee7i ro giao d\u1ecbch c\u1ee7a nh\u00e0 s\u1ea3n xu\u1ea5t g\u00f3a ph\u1ee5. M\u1ed9t khi t\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p v\u01b0\u1ee3t qua m\u1ee9c 4,5%, n\u00f3 s\u1ebd bu\u1ed9c C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang ph\u1ea3i th\u1ef1c hi\u1ec7n chuy\u1ec3n h\u01b0\u1edbng kh\u1ea9n c\u1ea5p. B\u1ea1n n\u00ean \u00e1p d\u1ee5ng t\u01b0 duy c\u00e2y k\u1ecbch b\u1ea3n, mua \u0111\u1ed3ng \u0111\u00f4 la M\u1ef9 trong th\u1eddi gian ng\u1eafn v\u00e0 \u0111\u1ec3 \u00fd \u0111\u1ebfn nh\u1eefng v\u1ebft n\u1ee9t trong t\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p.<\/p>","protected":false},"author":1,"featured_media":9919,"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":[1043,503,1042,1041,1044],"class_list":["post-9918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-news","tag-cpi","tag-503","tag-1042","tag-1041","tag-1044"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts\/9918","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=9918"}],"version-history":[{"count":1,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts\/9918\/revisions"}],"predecessor-version":[{"id":9924,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/posts\/9918\/revisions\/9924"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/media\/9919"}],"wp:attachment":[{"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/media?parent=9918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/categories?post=9918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kpai1.cn\/vi\/wp-json\/wp\/v2\/tags?post=9918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}