<p>T&#7893;ng th&#7889;ng Donald Trump cho bi&#7871;t v&agrave;o th&#7913; S&aacute;u s&aacute;ng &ocirc;ng s&#7869; c&ocirc;ng b&#7889; ng&#432;&#7901;i &#273;&#432;&#7907;c ch&#7885;n &#273;&#7875; thay th&#7871; Ch&#7911; t&#7883;ch C&#7909;c D&#7921; tr&#7919; Li&ecirc;n bang (Fed) Jerome Powell, ch&#7845;m d&#7913;t nhi&#7873;u th&aacute;ng &#273;&#7891;n &#273;o&aacute;n v&#7873; vi&#7879;c ai s&#7869; l&atilde;nh &#273;&#7841;o ng&acirc;n h&agrave;ng trung &#432;&#417;ng quy&#7873;n l&#7921;c nh&#7845;t th&#7871; gi&#7899;i.</p>
<p>L&#7853;p tr&#432;&#7901;ng ch&#7889;ng l&#7841;i vi&#7879;c n&#7899;i l&#7887;ng &#273;&#7883;nh l&#432;&#7907;ng (QE) c&#7911;a Kevin Warsh &ndash; ng&#432;&#7901;i &#273;ang d&#7851;n &#273;&#7847;u cu&#7897;c &#273;ua &ndash; c&oacute; th&#7875; l&agrave;m thay &#273;&#7893;i m&ocirc;i tr&#432;&#7901;ng thanh kho&#7843;n &#273;&atilde; h&#7895; tr&#7907; cho c&aacute;c t&agrave;i s&#7843;n r&#7911;i ro, bao g&#7891;m c&#7843; ti&#7873;n m&atilde; h&oacute;a, k&#7875; t&#7915; n&#259;m 2008.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-trump-teases-friday-announcement">Trump &uacute;p m&#7903; v&#7873; th&ocirc;ng b&aacute;o v&agrave;o th&#7913; s&aacute;u</h2>

<p>&ldquo;T&ocirc;i s&#7869; c&ocirc;ng b&#7889; ng&#432;&#7901;i gi&#7919; v&#7883; tr&iacute; Ch&#7911; t&#7883;ch Fed v&agrave;o s&aacute;ng mai,&rdquo; <a href="https://x.com/Breaking911/status/2017030292180017490">Trump chia s&#7867;</a> t&#7841;i Trung t&acirc;m Kennedy v&agrave;o t&#7889;i th&#7913; N&#259;m. &Ocirc;ng &uacute;p m&#7903; r&#7857;ng l&#7921;a ch&#7885;n n&agrave;y &ldquo;s&#7869; kh&ocirc;ng qu&aacute; b&#7845;t ng&#7901;&rdquo; v&agrave; l&agrave; &ldquo;ng&#432;&#7901;i &#273;&#432;&#7907;c m&#7885;i ng&#432;&#7901;i trong gi&#7899;i t&agrave;i ch&iacute;nh bi&#7871;t &#273;&#7871;n.&rdquo; T&#7893;ng th&#7889;ng c&ograve;n n&oacute;i th&ecirc;m: &ldquo;Nhi&#7873;u ng&#432;&#7901;i cho r&#7857;ng &#273;&acirc;y l&agrave; ng&#432;&#7901;i l&#7869; ra &#273;&atilde; &#7903; v&#7883; tr&iacute; &#273;&oacute; v&agrave;i n&#259;m tr&#432;&#7899;c.&rdquo;</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-warsh-surges-in-prediction-markets">Warsh t&#259;ng m&#7841;nh tr&ecirc;n c&aacute;c th&#7883; tr&#432;&#7901;ng d&#7921; &#273;o&aacute;n</h2>

<p>C&#7921;u Th&#7889;ng &#273;&#7889;c Fed Kevin Warsh <a href="https://vn.beincrypto.com/trump-fed-chair-race-hassett-warsh-powell-crypto/">n&#7893;i l&ecirc;n l&agrave; &#7913;ng c&#7917; vi&ecirc;n s&aacute;ng gi&aacute; nh&#7845;t</a> sau chuy&#7871;n th&#259;m Nh&agrave; Tr&#7855;ng v&agrave;o th&#7913; N&#259;m. Th&#7883; tr&#432;&#7901;ng d&#7921; &#273;o&aacute;n &#273;&atilde; thay &#273;&#7893;i m&#7841;nh m&#7869;. Tr&ecirc;n Polymarket, x&aacute;c su&#7845;t ch&#7885;n Warsh l&agrave; 87% v&#7899;i kh&#7889;i l&#432;&#7907;ng giao d&#7883;ch &#273;&#7841;t 289 tri&#7879;u USD. C&ograve;n tr&ecirc;n Kalshi, t&#7927; l&#7879; n&agrave;y l&agrave; 86% v&#7899;i kh&#7889;i l&#432;&#7907;ng 74 tri&#7879;u USD.</p>
<p>&#272;&agrave; t&#259;ng n&agrave;y di&#7877;n ra r&#7845;t nhanh. Tr&#432;&#7899;c &#273;&oacute; v&agrave;o th&#7913; T&#432;, T&#7893;ng Gi&aacute;m &#273;&#7889;c &#272;&#7847;u t&#432; c&#7911;a BlackRock &ndash; Rick Rieder &ndash; v&#7851;n l&agrave; ng&#432;&#7901;i n&#7857;m &#273;&#7847;u b&#7843;ng x&#7871;p h&#7841;ng. Nh&agrave; kinh t&#7871; h&#7885;c Justin Wolfers nh&#7853;n x&eacute;t tr&ecirc;n X r&#7857;ng ch&#7881; c&#7847;n th&#7845;y Warsh xu&#7845;t hi&#7879;n t&#7841;i Nh&agrave; Tr&#7855;ng &#273;&atilde; l&agrave; &ldquo;b&#7857;ng ch&#7913;ng &#273;&#7911; &#273;&#7875; th&#7883; tr&#432;&#7901;ng d&#7921; &#273;o&aacute;n &#273;i&#7873;u ch&#7881;nh l&#7841;i t&#7927; l&#7879; l&#7921;a ch&#7885;n c&#7911;a Warsh&rdquo;.</p>
<img style="height:400px;width:640px;" decoding="async" src="https://assets.beincrypto.com/img/XzDBGUKAfQW1DulS-iEaKnLvKA4=/smart/2882f55a69d5437cbcf5e5773e6aabee" alt="Th&#7889;ng k&ecirc; d&#7921; &#273;o&aacute;n Polymarket v&#7873; &#7913;ng c&#7917; vi&ecirc;n Ch&#7911; t&#7883;ch Fed" class="wp-image-797188">Ngu&#7891;n: Polymarket

<p>M&#7897;t s&#7889; &#7913;ng c&#7917; vi&ecirc;n kh&aacute;c trong danh s&aacute;ch c&#7911;a Trump c&ograve;n c&oacute; Th&#7889;ng &#273;&#7889;c Fed Christopher Waller &ndash; ng&#432;&#7901;i v&#7915;a ph&#7843;n &#273;&#7889;i quy&#7871;t &#273;&#7883;nh gi&#7919; nguy&ecirc;n l&atilde;i su&#7845;t tu&#7847;n n&agrave;y &ndash; v&agrave; Gi&aacute;m &#273;&#7889;c H&#7897;i &#273;&#7891;ng Kinh t&#7871; Qu&#7889;c gia Kevin Hassett, tuy nhi&ecirc;n Trump cho bi&#7871;t &ocirc;ng mu&#7889;n Hassett ti&#7871;p t&#7909;c &#7903; v&#7883; tr&iacute; hi&#7879;n t&#7841;i.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-warsh-s-policy-stance-rate-cuts-without-qe">L&#7853;p tr&#432;&#7901;ng ch&iacute;nh s&aacute;ch c&#7911;a Warsh: gi&#7843;m l&atilde;i su&#7845;t m&agrave; kh&ocirc;ng d&ugrave;ng QE</h2>

<p>Warsh t&#7915;ng gi&#7919; ch&#7913;c Th&#7889;ng &#273;&#7889;c Fed t&#7915; n&#259;m 2006 &#273;&#7871;n 2011 v&agrave; k&ecirc;u g&#7885;i c&#7843;i t&#7893; l&#7841;i ng&acirc;n h&agrave;ng trung &#432;&#417;ng. Chuy&ecirc;n gia ph&acirc;n t&iacute;ch v&#297; m&ocirc; Alex Kr&uuml;ger <a href="https://x.com/krugermacro/status/2017035926351073441" target="_blank" rel="noreferrer noopener">t&oacute;m t&#7855;t quan &#273;i&#7875;m c&#7911;a Warsh</a> tr&ecirc;n X: &Ocirc;ng &#273;&aacute;nh gi&aacute; r&#7857;ng n&#259;ng su&#7845;t t&#259;ng nh&#7901; AI s&#7869; t&#7841;o ra &aacute;p l&#7921;c gi&#7843;m l&#7841;m ph&aacute;t, t&#7915; &#273;&oacute; &#7911;ng h&#7897; vi&#7879;c m&#7841;nh tay h&#7841; l&atilde;i su&#7845;t; &#273;&#7891;ng th&#7901;i cho r&#7857;ng b&#7843;ng c&acirc;n &#273;&#7889;i k&#7871; to&aacute;n c&#7911;a Fed &#273;&atilde; h&#7895; tr&#7907; ph&#7889; Wall qu&aacute; nhi&#7873;u v&agrave; c&#7847;n ph&#7843;i thu h&#7865;p &#273;&aacute;ng k&#7875;.</p>
<p>S&#7921; k&#7871;t h&#7907;p gi&#7919;a ch&iacute;nh s&aacute;ch l&atilde;i su&#7845;t m&#7873;m d&#7867;o v&agrave; quan &#273;i&#7875;m c&#7913;ng r&#7855;n v&#7873; b&#7843;ng c&acirc;n &#273;&#7889;i k&#7871; to&aacute;n t&#7841;o n&ecirc;n s&#7921; kh&aacute;c bi&#7879;t cho Warsh. Theo Matthew Luzzetti c&#7911;a Deutsche Bank, v&agrave;o th&aacute;ng 12, Warsh t&#7915;ng cho th&#7845;y &ocirc;ng &#432;u ti&ecirc;n &ldquo;l&atilde;i su&#7845;t ch&iacute;nh s&aacute;ch th&#7845;p h&#417;n, v&agrave; c&oacute; th&#7875; b&ugrave; l&#7841;i b&#7857;ng b&#7843;ng c&acirc;n &#273;&#7889;i k&#7871; to&aacute;n nh&#7887; h&#417;n&rdquo;, &#273;i&#7873;u n&agrave;y s&#7869; c&#7847;n &#273;&#7871;n c&aacute;c thay &#273;&#7893;i trong quy &#273;&#7883;nh m&#7899;i c&oacute; th&#7875; th&#7921;c hi&#7879;n &#273;&#432;&#7907;c.</p>
<p>Nh&agrave; kinh t&#7871; tr&#432;&#7903;ng Joseph Brusuelas c&#7911;a RSM th&igrave; <a href="https://x.com/joebrusuelas/status/2017031969498964208" target="_blank" rel="noreferrer noopener">b&agrave;y t&#7887; th&aacute;i &#273;&#7897; kh&ocirc;ng &#273;&#7891;ng t&igrave;nh</a>. &Ocirc;ng chia s&#7867; tr&ecirc;n X r&#7857;ng b&#7843;n n&#259;ng &#273;&#7847;u ti&ecirc;n c&#7911;a Warsh l&agrave; thi&ecirc;n v&#7873; th&#7855;t ch&#7863;t, v&agrave; &ocirc;ng &#273;&atilde; &ldquo;x&#7917; l&yacute; ch&#432;a t&#7889;t c&aacute;c ch&iacute;nh s&aacute;ch&rdquo; sau Kh&#7911;ng ho&#7843;ng t&agrave;i ch&iacute;nh to&agrave;n c&#7847;u.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-crypto-implications">T&aacute;c &#273;&#7897;ng &#273;&#7871;n crypto</h2>

<p>L&#7853;p tr&#432;&#7901;ng ph&#7843;n &#273;&#7889;i QE c&#7911;a Warsh c&oacute; th&#7875; g&acirc;y &aacute;p l&#7921;c l&ecirc;n th&#7883; tr&#432;&#7901;ng ti&#7873;n m&atilde; h&oacute;a, v&#7889;n &#273;&atilde; t&#259;ng tr&#432;&#7903;ng m&#7841;nh m&#7895;i khi Fed m&#7903; r&#7897;ng b&#7843;ng c&acirc;n &#273;&#7889;i k&#7871; to&aacute;n. Hi&#7879;n b&#7843;ng c&acirc;n &#273;&#7889;i k&#7871; to&aacute;n c&#7911;a Fed x&#7845;p x&#7881; 6.5 ngh&igrave;n t&#7927; USD, gi&#7843;m t&#7915; m&#7913;c 8.9 ngh&igrave;n t&#7927; USD v&agrave;o n&#259;m 2022.</p>
<p>Quan &#273;i&#7875;m c&#7911;a &ocirc;ng v&#7873; t&agrave;i s&#7843;n s&#7889; kh&aacute; &#273;a chi&#7873;u. Warsh t&#7915;ng &#273;&#7847;u t&#432; v&agrave;o d&#7921; &aacute;n stablecoin Basis n&#259;m 2018 v&agrave; v&agrave;o c&ocirc;ng ty qu&#7843;n l&yacute; t&agrave;i s&#7843;n Bitwise n&#259;m 2021, n&#417;i &ocirc;ng v&#7851;n &#273;ang l&agrave; c&#7889; v&#7845;n.</p>
<p>Tuy nhi&ecirc;n, trong m&#7897;t <a href="https://www.wsj.com/articles/the-chinese-cryptocurrency-threat-e-cny-digital-dollar-yuan-reserve-privacy-wholesale-transfer-fed-reform-inflation-11668954794" target="_blank" rel="noreferrer noopener">b&agrave;i vi&#7871;t &#273;&#259;ng tr&ecirc;n WSJ n&#259;m 2022</a>, Warsh l&#7841;i ph&#7911; nh&#7853;n c&aacute;c &#273;&#7891;ng ti&#7873;n m&atilde; h&oacute;a t&#432; nh&acirc;n, cho r&#7857;ng ch&uacute;ng ch&#7881; &ldquo;gi&#7843; danh ti&#7873;n t&#7879;&rdquo; v&agrave; &ldquo;cryptocurrency ch&#7881; l&agrave; ph&#7847;n m&#7873;m, kh&ocirc;ng ph&#7843;i ti&#7873;n&rdquo;. &Ocirc;ng c&#361;ng &#7911;ng h&#7897; &yacute; t&#432;&#7903;ng v&#7873; m&#7897;t &#273;&#7891;ng ti&#7873;n k&#7929; thu&#7853;t s&#7889; c&#7911;a ng&acirc;n h&agrave;ng trung &#432;&#417;ng M&#7929; (CBDC), &#273;i&#7873;u n&agrave;y &#273;i ng&#432;&#7907;c l&#7841;i v&#7899;i nh&#7919;ng ph&aacute;t ng&ocirc;n &#7911;ng h&#7897; Bitcoin c&#7911;a Trump.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-senate-confirmation-uncertain">X&aacute;c nh&#7853;n c&#7911;a Th&#432;&#7907;ng vi&#7879;n ch&#432;a ch&#7855;c ch&#7855;n</h2>

<p>D&ugrave; kh&#7843; n&#259;ng Warsh &#273;&#432;&#7907;c &#273;&#7873; c&#7917; l&agrave; kh&aacute; cao, nh&#432;ng qu&aacute; tr&igrave;nh ph&ecirc; chu&#7849;n v&#7851;n c&ograve;n nhi&#7873;u b&#7845;t &#273;&#7883;nh. <a href="https://polymarket.com/event/how-many-senators-will-vote-for-trumps-fed-chair-nominee-411" target="_blank" rel="noreferrer noopener">Theo Polymarket</a>, x&aacute;c su&#7845;t &ocirc;ng n&agrave;y nh&#7853;n &#273;&#7911; ch&iacute;nh x&aacute;c 52 phi&#7871;u thu&#7853;n l&agrave; 39% &ndash; &#273;&acirc;y l&agrave; k&#7883;ch b&#7843;n d&#7877; x&#7843;y ra nh&#7845;t. X&aacute;c su&#7845;t b&#7883; t&#7915; ch&#7889;i ho&agrave;n to&agrave;n l&agrave; 18%, &#273;i&#7873;u n&agrave;y ph&#7843;n &aacute;nh s&#7921; kh&ocirc;ng ch&#7855;c ch&#7855;n li&ecirc;n quan &#273;&#7871;n vi&#7879;c Th&#432;&#7907;ng ngh&#7883; s&#297; Tillis d&#7885;a s&#7869; ch&#7863;n vi&#7879;c ph&ecirc; duy&#7879;t.</p>
<img style="height:400px;width:640px;" decoding="async" src="https://assets.beincrypto.com/img/sqeAkfGcFX9vsCzmngVgzirOUbs=/smart/45663f380b154469be7e915b739cc2e4" alt="X&aacute;c su&#7845;t ph&ecirc; duy&#7879;t &#7913;ng vi&ecirc;n Ch&#7911; t&#7883;ch Fed tr&ecirc;n Polymarket" class="wp-image-797189">Ngu&#7891;n: Polymarket

<p>Th&#432;&#7907;ng ngh&#7883; s&#297; C&#7897;ng h&ograve;a Thom Tillis, th&agrave;nh vi&ecirc;n c&#7911;a &#7910;y ban Ng&acirc;n h&agrave;ng, &#273;&atilde; tuy&ecirc;n b&#7889; s&#7869; ng&#259;n ch&#7863;n m&#7885;i &#273;&#7873; c&#7917; cho Ch&#7911; t&#7883;ch Fed cho &#273;&#7871;n khi B&#7897; T&#432; ph&aacute;p M&#7929; (DOJ) k&#7871;t th&uacute;c &#273;i&#7873;u tra v&#7873; Powell. Cu&#7897;c &#273;i&#7873;u tra n&agrave;y xoay quanh chi ph&iacute; n&acirc;ng c&#7845;p tr&#7909; s&#7903; Fed v&agrave; c&aacute;c l&#7901;i khai c&#7911;a Powell, m&agrave; &ocirc;ng Tillis cho r&#7857;ng ch&#7881; l&agrave; c&aacute;i c&#7899; &#273;&#7875; g&acirc;y s&#7913;c &eacute;p l&ecirc;n &ocirc;ng &#7845;y.</p>
<p>Nhi&#7879;m k&#7923; Ch&#7911; t&#7883;ch c&#7911;a Powell k&#7871;t th&uacute;c v&agrave;o ng&agrave;y 15/05, nh&#432;ng nhi&#7879;m k&#7923; Th&#7889;ng &#273;&#7889;c c&#7911;a &ocirc;ng c&ograve;n k&eacute;o d&agrave;i &#273;&#7871;n th&aacute;ng 01/2028. N&#259;m 2018 Trump su&yacute;t ch&#7885;n Warsh nh&#432;ng cu&#7889;i c&ugrave;ng l&#7841;i ch&#7885;n Powell &ndash; m&#7897;t quy&#7871;t &#273;&#7883;nh m&agrave; sau n&agrave;y &ocirc;ng t&#7915;ng c&ocirc;ng khai n&oacute;i l&agrave; h&#7889;i ti&#7871;c.</p>
<p>Fed &#273;&atilde; gi&#7919; l&atilde;i su&#7845;t &#7903; m&#7913;c 3.50%-3.75% h&ocirc;m th&#7913; T&#432; sau ba l&#7847;n gi&#7843;m l&atilde;i su&#7845;t trong n&#259;m 2025. Trump mong mu&#7889;n l&atilde;i su&#7845;t &ldquo;th&#7845;p h&#417;n t&#7915; 2 &#273;&#7871;n th&#7853;m ch&iacute; 3 &#273;i&#7875;m ph&#7847;n tr&#259;m so v&#7899;i hi&#7879;n t&#7841;i.&rdquo;</p>


Trump sẽ công bố Chủ tịch Fed vào thứ sáu; Warsh dẫn đầu với 87%

<p>T&#7893;ng th&#7889;ng Donald Trump cho bi&#7871;t v&agrave;o th&#7913; S&aacute;u s&aacute;ng &ocirc;ng s&#7869; c&ocirc;ng b&#7889; ng&#432;&#7901;i &#273;&#432;&#7907;c ch&#7885;n &#273;&#7875; thay th&#7871; Ch&#7911; t&#7883;ch C&#7909;c D&#7921; tr&#7919; Li&ecirc;n bang (Fed) Jerome Powell, ch&#7845;m d&#7913;t nhi&#7873;u th&aacute;ng &#273;&#7891;n &#273;o&aacute;n v&#7873; vi&#7879;c ai s&#7869; l&atilde;nh &#273;&#7841;o ng&acirc;n h&agrave;ng trung &#432;&#417;ng quy&#7873;n l&#7921;c nh&#7845;t th&#7871; gi&#7899;i.</p>
<p>L&#7853;p tr&#432;&#7901;ng ch&#7889;ng l&#7841;i vi&#7879;c n&#7899;i l&#7887;ng &#273;&#7883;nh l&#432;&#7907;ng (QE) c&#7911;a Kevin Warsh &ndash; ng&#432;&#7901;i &#273;ang d&#7851;n &#273;&#7847;u cu&#7897;c &#273;ua &ndash; c&oacute; th&#7875; l&agrave;m thay &#273;&#7893;i m&ocirc;i tr&#432;&#7901;ng thanh kho&#7843;n &#273;&atilde; h&#7895; tr&#7907; cho c&aacute;c t&agrave;i s&#7843;n r&#7911;i ro, bao g&#7891;m c&#7843; ti&#7873;n m&atilde; h&oacute;a, k&#7875; t&#7915; n&#259;m 2008.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-trump-teases-friday-announcement">Trump &uacute;p m&#7903; v&#7873; th&ocirc;ng b&aacute;o v&agrave;o th&#7913; s&aacute;u</h2>

<p>&ldquo;T&ocirc;i s&#7869; c&ocirc;ng b&#7889; ng&#432;&#7901;i gi&#7919; v&#7883; tr&iacute; Ch&#7911; t&#7883;ch Fed v&agrave;o s&aacute;ng mai,&rdquo; <a href="https://x.com/Breaking911/status/2017030292180017490">Trump chia s&#7867;</a> t&#7841;i Trung t&acirc;m Kennedy v&agrave;o t&#7889;i th&#7913; N&#259;m. &Ocirc;ng &uacute;p m&#7903; r&#7857;ng l&#7921;a ch&#7885;n n&agrave;y &ldquo;s&#7869; kh&ocirc;ng qu&aacute; b&#7845;t ng&#7901;&rdquo; v&agrave; l&agrave; &ldquo;ng&#432;&#7901;i &#273;&#432;&#7907;c m&#7885;i ng&#432;&#7901;i trong gi&#7899;i t&agrave;i ch&iacute;nh bi&#7871;t &#273;&#7871;n.&rdquo; T&#7893;ng th&#7889;ng c&ograve;n n&oacute;i th&ecirc;m: &ldquo;Nhi&#7873;u ng&#432;&#7901;i cho r&#7857;ng &#273;&acirc;y l&agrave; ng&#432;&#7901;i l&#7869; ra &#273;&atilde; &#7903; v&#7883; tr&iacute; &#273;&oacute; v&agrave;i n&#259;m tr&#432;&#7899;c.&rdquo;</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-warsh-surges-in-prediction-markets">Warsh t&#259;ng m&#7841;nh tr&ecirc;n c&aacute;c th&#7883; tr&#432;&#7901;ng d&#7921; &#273;o&aacute;n</h2>

<p>C&#7921;u Th&#7889;ng &#273;&#7889;c Fed Kevin Warsh <a href="https://vn.beincrypto.com/trump-fed-chair-race-hassett-warsh-powell-crypto/">n&#7893;i l&ecirc;n l&agrave; &#7913;ng c&#7917; vi&ecirc;n s&aacute;ng gi&aacute; nh&#7845;t</a> sau chuy&#7871;n th&#259;m Nh&agrave; Tr&#7855;ng v&agrave;o th&#7913; N&#259;m. Th&#7883; tr&#432;&#7901;ng d&#7921; &#273;o&aacute;n &#273;&atilde; thay &#273;&#7893;i m&#7841;nh m&#7869;. Tr&ecirc;n Polymarket, x&aacute;c su&#7845;t ch&#7885;n Warsh l&agrave; 87% v&#7899;i kh&#7889;i l&#432;&#7907;ng giao d&#7883;ch &#273;&#7841;t 289 tri&#7879;u USD. C&ograve;n tr&ecirc;n Kalshi, t&#7927; l&#7879; n&agrave;y l&agrave; 86% v&#7899;i kh&#7889;i l&#432;&#7907;ng 74 tri&#7879;u USD.</p>
<p>&#272;&agrave; t&#259;ng n&agrave;y di&#7877;n ra r&#7845;t nhanh. Tr&#432;&#7899;c &#273;&oacute; v&agrave;o th&#7913; T&#432;, T&#7893;ng Gi&aacute;m &#273;&#7889;c &#272;&#7847;u t&#432; c&#7911;a BlackRock &ndash; Rick Rieder &ndash; v&#7851;n l&agrave; ng&#432;&#7901;i n&#7857;m &#273;&#7847;u b&#7843;ng x&#7871;p h&#7841;ng. Nh&agrave; kinh t&#7871; h&#7885;c Justin Wolfers nh&#7853;n x&eacute;t tr&ecirc;n X r&#7857;ng ch&#7881; c&#7847;n th&#7845;y Warsh xu&#7845;t hi&#7879;n t&#7841;i Nh&agrave; Tr&#7855;ng &#273;&atilde; l&agrave; &ldquo;b&#7857;ng ch&#7913;ng &#273;&#7911; &#273;&#7875; th&#7883; tr&#432;&#7901;ng d&#7921; &#273;o&aacute;n &#273;i&#7873;u ch&#7881;nh l&#7841;i t&#7927; l&#7879; l&#7921;a ch&#7885;n c&#7911;a Warsh&rdquo;.</p>
<img style="height:400px;width:640px;"decoding="async" src="https://assets.beincrypto.com/img/XzDBGUKAfQW1DulS-iEaKnLvKA4=/smart/2882f55a69d5437cbcf5e5773e6aabee" alt="Th&#7889;ng k&ecirc; d&#7921; &#273;o&aacute;n Polymarket v&#7873; &#7913;ng c&#7917; vi&ecirc;n Ch&#7911; t&#7883;ch Fed" class="wp-image-797188">Ngu&#7891;n: Polymarket

<p>M&#7897;t s&#7889; &#7913;ng c&#7917; vi&ecirc;n kh&aacute;c trong danh s&aacute;ch c&#7911;a Trump c&ograve;n c&oacute; Th&#7889;ng &#273;&#7889;c Fed Christopher Waller &ndash; ng&#432;&#7901;i v&#7915;a ph&#7843;n &#273;&#7889;i quy&#7871;t &#273;&#7883;nh gi&#7919; nguy&ecirc;n l&atilde;i su&#7845;t tu&#7847;n n&agrave;y &ndash; v&agrave; Gi&aacute;m &#273;&#7889;c H&#7897;i &#273;&#7891;ng Kinh t&#7871; Qu&#7889;c gia Kevin Hassett, tuy nhi&ecirc;n Trump cho bi&#7871;t &ocirc;ng mu&#7889;n Hassett ti&#7871;p t&#7909;c &#7903; v&#7883; tr&iacute; hi&#7879;n t&#7841;i.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-warsh-s-policy-stance-rate-cuts-without-qe">L&#7853;p tr&#432;&#7901;ng ch&iacute;nh s&aacute;ch c&#7911;a Warsh: gi&#7843;m l&atilde;i su&#7845;t m&agrave; kh&ocirc;ng d&ugrave;ng QE</h2>

<p>Warsh t&#7915;ng gi&#7919; ch&#7913;c Th&#7889;ng &#273;&#7889;c Fed t&#7915; n&#259;m 2006 &#273;&#7871;n 2011 v&agrave; k&ecirc;u g&#7885;i c&#7843;i t&#7893; l&#7841;i ng&acirc;n h&agrave;ng trung &#432;&#417;ng. Chuy&ecirc;n gia ph&acirc;n t&iacute;ch v&#297; m&ocirc; Alex Kr&uuml;ger <a href="https://x.com/krugermacro/status/2017035926351073441" target="_blank" rel="noreferrer noopener">t&oacute;m t&#7855;t quan &#273;i&#7875;m c&#7911;a Warsh</a> tr&ecirc;n X: &Ocirc;ng &#273;&aacute;nh gi&aacute; r&#7857;ng n&#259;ng su&#7845;t t&#259;ng nh&#7901; AI s&#7869; t&#7841;o ra &aacute;p l&#7921;c gi&#7843;m l&#7841;m ph&aacute;t, t&#7915; &#273;&oacute; &#7911;ng h&#7897; vi&#7879;c m&#7841;nh tay h&#7841; l&atilde;i su&#7845;t; &#273;&#7891;ng th&#7901;i cho r&#7857;ng b&#7843;ng c&acirc;n &#273;&#7889;i k&#7871; to&aacute;n c&#7911;a Fed &#273;&atilde; h&#7895; tr&#7907; ph&#7889; Wall qu&aacute; nhi&#7873;u v&agrave; c&#7847;n ph&#7843;i thu h&#7865;p &#273;&aacute;ng k&#7875;.</p>
<p>S&#7921; k&#7871;t h&#7907;p gi&#7919;a ch&iacute;nh s&aacute;ch l&atilde;i su&#7845;t m&#7873;m d&#7867;o v&agrave; quan &#273;i&#7875;m c&#7913;ng r&#7855;n v&#7873; b&#7843;ng c&acirc;n &#273;&#7889;i k&#7871; to&aacute;n t&#7841;o n&ecirc;n s&#7921; kh&aacute;c bi&#7879;t cho Warsh. Theo Matthew Luzzetti c&#7911;a Deutsche Bank, v&agrave;o th&aacute;ng 12, Warsh t&#7915;ng cho th&#7845;y &ocirc;ng &#432;u ti&ecirc;n &ldquo;l&atilde;i su&#7845;t ch&iacute;nh s&aacute;ch th&#7845;p h&#417;n, v&agrave; c&oacute; th&#7875; b&ugrave; l&#7841;i b&#7857;ng b&#7843;ng c&acirc;n &#273;&#7889;i k&#7871; to&aacute;n nh&#7887; h&#417;n&rdquo;, &#273;i&#7873;u n&agrave;y s&#7869; c&#7847;n &#273;&#7871;n c&aacute;c thay &#273;&#7893;i trong quy &#273;&#7883;nh m&#7899;i c&oacute; th&#7875; th&#7921;c hi&#7879;n &#273;&#432;&#7907;c.</p>
<p>Nh&agrave; kinh t&#7871; tr&#432;&#7903;ng Joseph Brusuelas c&#7911;a RSM th&igrave; <a href="https://x.com/joebrusuelas/status/2017031969498964208" target="_blank" rel="noreferrer noopener">b&agrave;y t&#7887; th&aacute;i &#273;&#7897; kh&ocirc;ng &#273;&#7891;ng t&igrave;nh</a>. &Ocirc;ng chia s&#7867; tr&ecirc;n X r&#7857;ng b&#7843;n n&#259;ng &#273;&#7847;u ti&ecirc;n c&#7911;a Warsh l&agrave; thi&ecirc;n v&#7873; th&#7855;t ch&#7863;t, v&agrave; &ocirc;ng &#273;&atilde; &ldquo;x&#7917; l&yacute; ch&#432;a t&#7889;t c&aacute;c ch&iacute;nh s&aacute;ch&rdquo; sau Kh&#7911;ng ho&#7843;ng t&agrave;i ch&iacute;nh to&agrave;n c&#7847;u.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-crypto-implications">T&aacute;c &#273;&#7897;ng &#273;&#7871;n crypto</h2>

<p>L&#7853;p tr&#432;&#7901;ng ph&#7843;n &#273;&#7889;i QE c&#7911;a Warsh c&oacute; th&#7875; g&acirc;y &aacute;p l&#7921;c l&ecirc;n th&#7883; tr&#432;&#7901;ng ti&#7873;n m&atilde; h&oacute;a, v&#7889;n &#273;&atilde; t&#259;ng tr&#432;&#7903;ng m&#7841;nh m&#7895;i khi Fed m&#7903; r&#7897;ng b&#7843;ng c&acirc;n &#273;&#7889;i k&#7871; to&aacute;n. Hi&#7879;n b&#7843;ng c&acirc;n &#273;&#7889;i k&#7871; to&aacute;n c&#7911;a Fed x&#7845;p x&#7881; 6.5 ngh&igrave;n t&#7927; USD, gi&#7843;m t&#7915; m&#7913;c 8.9 ngh&igrave;n t&#7927; USD v&agrave;o n&#259;m 2022.</p>
<p>Quan &#273;i&#7875;m c&#7911;a &ocirc;ng v&#7873; t&agrave;i s&#7843;n s&#7889; kh&aacute; &#273;a chi&#7873;u. Warsh t&#7915;ng &#273;&#7847;u t&#432; v&agrave;o d&#7921; &aacute;n stablecoin Basis n&#259;m 2018 v&agrave; v&agrave;o c&ocirc;ng ty qu&#7843;n l&yacute; t&agrave;i s&#7843;n Bitwise n&#259;m 2021, n&#417;i &ocirc;ng v&#7851;n &#273;ang l&agrave; c&#7889; v&#7845;n.</p>
<p>Tuy nhi&ecirc;n, trong m&#7897;t <a href="https://www.wsj.com/articles/the-chinese-cryptocurrency-threat-e-cny-digital-dollar-yuan-reserve-privacy-wholesale-transfer-fed-reform-inflation-11668954794" target="_blank" rel="noreferrer noopener">b&agrave;i vi&#7871;t &#273;&#259;ng tr&ecirc;n WSJ n&#259;m 2022</a>, Warsh l&#7841;i ph&#7911; nh&#7853;n c&aacute;c &#273;&#7891;ng ti&#7873;n m&atilde; h&oacute;a t&#432; nh&acirc;n, cho r&#7857;ng ch&uacute;ng ch&#7881; &ldquo;gi&#7843; danh ti&#7873;n t&#7879;&rdquo; v&agrave; &ldquo;cryptocurrency ch&#7881; l&agrave; ph&#7847;n m&#7873;m, kh&ocirc;ng ph&#7843;i ti&#7873;n&rdquo;. &Ocirc;ng c&#361;ng &#7911;ng h&#7897; &yacute; t&#432;&#7903;ng v&#7873; m&#7897;t &#273;&#7891;ng ti&#7873;n k&#7929; thu&#7853;t s&#7889; c&#7911;a ng&acirc;n h&agrave;ng trung &#432;&#417;ng M&#7929; (CBDC), &#273;i&#7873;u n&agrave;y &#273;i ng&#432;&#7907;c l&#7841;i v&#7899;i nh&#7919;ng ph&aacute;t ng&ocirc;n &#7911;ng h&#7897; Bitcoin c&#7911;a Trump.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-senate-confirmation-uncertain">X&aacute;c nh&#7853;n c&#7911;a Th&#432;&#7907;ng vi&#7879;n ch&#432;a ch&#7855;c ch&#7855;n</h2>

<p>D&ugrave; kh&#7843; n&#259;ng Warsh &#273;&#432;&#7907;c &#273;&#7873; c&#7917; l&agrave; kh&aacute; cao, nh&#432;ng qu&aacute; tr&igrave;nh ph&ecirc; chu&#7849;n v&#7851;n c&ograve;n nhi&#7873;u b&#7845;t &#273;&#7883;nh. <a href="https://polymarket.com/event/how-many-senators-will-vote-for-trumps-fed-chair-nominee-411" target="_blank" rel="noreferrer noopener">Theo Polymarket</a>, x&aacute;c su&#7845;t &ocirc;ng n&agrave;y nh&#7853;n &#273;&#7911; ch&iacute;nh x&aacute;c 52 phi&#7871;u thu&#7853;n l&agrave; 39% &ndash; &#273;&acirc;y l&agrave; k&#7883;ch b&#7843;n d&#7877; x&#7843;y ra nh&#7845;t. X&aacute;c su&#7845;t b&#7883; t&#7915; ch&#7889;i ho&agrave;n to&agrave;n l&agrave; 18%, &#273;i&#7873;u n&agrave;y ph&#7843;n &aacute;nh s&#7921; kh&ocirc;ng ch&#7855;c ch&#7855;n li&ecirc;n quan &#273;&#7871;n vi&#7879;c Th&#432;&#7907;ng ngh&#7883; s&#297; Tillis d&#7885;a s&#7869; ch&#7863;n vi&#7879;c ph&ecirc; duy&#7879;t.</p>
<img style="height:400px;width:640px;"decoding="async" src="https://assets.beincrypto.com/img/sqeAkfGcFX9vsCzmngVgzirOUbs=/smart/45663f380b154469be7e915b739cc2e4" alt="X&aacute;c su&#7845;t ph&ecirc; duy&#7879;t &#7913;ng vi&ecirc;n Ch&#7911; t&#7883;ch Fed tr&ecirc;n Polymarket" class="wp-image-797189">Ngu&#7891;n: Polymarket

<p>Th&#432;&#7907;ng ngh&#7883; s&#297; C&#7897;ng h&ograve;a Thom Tillis, th&agrave;nh vi&ecirc;n c&#7911;a &#7910;y ban Ng&acirc;n h&agrave;ng, &#273;&atilde; tuy&ecirc;n b&#7889; s&#7869; ng&#259;n ch&#7863;n m&#7885;i &#273;&#7873; c&#7917; cho Ch&#7911; t&#7883;ch Fed cho &#273;&#7871;n khi B&#7897; T&#432; ph&aacute;p M&#7929; (DOJ) k&#7871;t th&uacute;c &#273;i&#7873;u tra v&#7873; Powell. Cu&#7897;c &#273;i&#7873;u tra n&agrave;y xoay quanh chi ph&iacute; n&acirc;ng c&#7845;p tr&#7909; s&#7903; Fed v&agrave; c&aacute;c l&#7901;i khai c&#7911;a Powell, m&agrave; &ocirc;ng Tillis cho r&#7857;ng ch&#7881; l&agrave; c&aacute;i c&#7899; &#273;&#7875; g&acirc;y s&#7913;c &eacute;p l&ecirc;n &ocirc;ng &#7845;y.</p>
<p>Nhi&#7879;m k&#7923; Ch&#7911; t&#7883;ch c&#7911;a Powell k&#7871;t th&uacute;c v&agrave;o ng&agrave;y 15/05, nh&#432;ng nhi&#7879;m k&#7923; Th&#7889;ng &#273;&#7889;c c&#7911;a &ocirc;ng c&ograve;n k&eacute;o d&agrave;i &#273;&#7871;n th&aacute;ng 01/2028. N&#259;m 2018 Trump su&yacute;t ch&#7885;n Warsh nh&#432;ng cu&#7889;i c&ugrave;ng l&#7841;i ch&#7885;n Powell &ndash; m&#7897;t quy&#7871;t &#273;&#7883;nh m&agrave; sau n&agrave;y &ocirc;ng t&#7915;ng c&ocirc;ng khai n&oacute;i l&agrave; h&#7889;i ti&#7871;c.</p>
<p>Fed &#273;&atilde; gi&#7919; l&atilde;i su&#7845;t &#7903; m&#7913;c 3.50%-3.75% h&ocirc;m th&#7913; T&#432; sau ba l&#7847;n gi&#7843;m l&atilde;i su&#7845;t trong n&#259;m 2025. Trump mong mu&#7889;n l&atilde;i su&#7845;t &ldquo;th&#7845;p h&#417;n t&#7915; 2 &#273;&#7871;n th&#7853;m ch&iacute; 3 &#273;i&#7875;m ph&#7847;n tr&#259;m so v&#7899;i hi&#7879;n t&#7841;i.&rdquo;</p>
