Cnbc haberine \u015f\u00f6yle ba\u015fl\u0131yor; <\/p>\n\n\n\n
Hazine Bakan\u0131 Scott Bessent, ger\u00e7ekten de yanl\u0131\u015f davrand\u0131\u011f\u0131n\u0131 d\u00fc\u015f\u00fcnd\u00fc\u011f\u00fc tahvil piyasas\u0131na federal h\u00fck\u00fcmetin t\u00fcm g\u00fcc\u00fcn\u00fc uygulamak istiyorsa, bunu tek ba\u015f\u0131na yapamaz. Hazine tahvil getirilerini d\u00fc\u015f\u00fcrmeye y\u00f6nelik s\u00fcrd\u00fcr\u00fclebilir bir \u00e7aba, sonunda Bessent\u2019in uzun zamand\u0131r arkada\u015f\u0131 olan ve \u015fu anda Federal Rezerv Ba\u015fkan\u0131 Kevin Warsh ile koordinasyon gerektirecektir \u015feklinde g\u00f6r\u00fc\u015f belirtiliyor.<\/p>\n\n\n\n
Bessent\u2019in tahvil piyasas\u0131n\u0131 etkileme \u00e7abalar\u0131, Warsh\u2019\u0131n Fed\u2019in ba\u011f\u0131ms\u0131zl\u0131\u011f\u0131 ve ABD devlet bor\u00e7lar\u0131n\u0131n b\u00fcy\u00fck havuzuna ili\u015fkin tutumu konusunda nerede durdu\u011funu a\u00e7\u0131kl\u0131\u011fa kavu\u015fturmas\u0131 y\u00f6n\u00fcndeki yo\u011fun incelemeyi daha da art\u0131racakt\u0131r .<\/p>\n\n\n\n
Fed, tarihsel olarak yaln\u0131zca ciddi ekonomik zay\u0131fl\u0131k d\u00f6nemlerinde veya a\u00e7\u0131k acil durumlarda tahvil piyasas\u0131na m\u00fcdahale ederek getirileri etkilemi\u015ftir. Bessent\u2019in \u015fimdiye kadar dile getirdi\u011fi endi\u015feler bu e\u015fi\u011fin alt\u0131nda kalmaktad\u0131r ve merkez bankas\u0131n\u0131n \u015fu anda m\u00fcdahale etme niyetinde oldu\u011funa dair bir i\u015faret yoktur. Ancak Hazine\u2019nin sorumluluklar\u0131n\u0131n nerede bitti\u011fi ve Fed\u2019in sorumluluklar\u0131n\u0131n nerede ba\u015flad\u0131\u011f\u0131 aras\u0131nda kesin bir \u00e7izgi yoktur ve Warsh, Fed\u2019in bilan\u00e7osunu ilgilendiren hassas konularda Hazine\u2019ye daha fazla yetki vermesi gerekti\u011fine inand\u0131\u011f\u0131n\u0131 defalarca dile getirmi\u015ftir .<\/p>\n\n\n\n
ABD Hazine Bakanl\u0131\u011f\u0131 \u00c7ar\u015famba g\u00fcn\u00fc, mevcut planlar\u0131na ek olarak en az 2 milyar dolarl\u0131k uzun vadeli devlet tahvili geri al\u0131m\u0131 yapaca\u011f\u0131n\u0131 duyurdu. Bunun daha k\u0131sa vadeli bor\u00e7larla dengelenmesi gerekecek.<\/p>\n\n\n\n
Bessent, daha fazla plan\u0131 olabilece\u011fini ima etti. Per\u015fembe g\u00fcn\u00fc CNBC\u2019ye verdi\u011fi deme\u00e7te, \u201cGeni\u015f bir ara\u00e7 setimiz var, bu y\u00fczden g\u00f6rece\u011fiz,\u201d dedi .<\/p>\n\n\n\n
\u201cBunun bir k\u0131sm\u0131, getirilerin temel g\u00f6stergeleri yans\u0131tmad\u0131\u011f\u0131na inand\u0131\u011f\u0131m\u0131z\u0131 g\u00f6stermek ve sinyal vermek i\u00e7indir,\u201d dedi Bessent. 10 y\u0131ll\u0131k Hazine tahvillerinin getirileri
\u00c7ar\u015famba g\u00fcn\u00fc d\u00fc\u015f\u00fc\u015f g\u00f6steren tahvilin fiyat\u0131, per\u015fembe g\u00fcn\u00fc kazan\u0131mlar\u0131n\u0131n b\u00fcy\u00fck bir k\u0131sm\u0131n\u0131 geri vermi\u015fti.<\/p>\n\n\n\n
Federal Rezerv\u2019in k\u00fcresel sabit gelir yat\u0131r\u0131mlar\u0131ndan sorumlu ba\u015f yat\u0131r\u0131m yetkilisi Rick Rieder, \u00c7ar\u015famba g\u00fcn\u00fc CNBC\u2019ye verdi\u011fi deme\u00e7te, \u201cFederal Rezerv\u2019de otururken faiz e\u011frisini y\u00f6netme konusunda daha fazla g\u00fcce sahipsiniz\u201d dedi.<\/p>\n\n\n\n
\u201cJackson Hole\u2019a gitti\u011fimizde, bu sorunu nas\u0131l ele alacaklar\u0131n\u0131 g\u00f6rmek ilgin\u00e7 olacak,\u201d dedi Rieder.<\/p>\n\n\n\n
Warsh, Wyoming da\u011flar\u0131nda her y\u0131l A\u011fustos sonlar\u0131nda d\u00fczenlenen merkez bankac\u0131lar\u0131n\u0131n y\u0131ll\u0131k toplant\u0131s\u0131 olan Jackson Hole Ekonomik Politika Sempozyumu\u2019na giderken, Hazine piyasas\u0131yla olan ili\u015fkisi hakk\u0131nda zaten sorularla kar\u015f\u0131 kar\u015f\u0131yayd\u0131.<\/p>\n\n\n\n
Warsh\u2019\u0131n FOMC\u2019nin Temmuz ay\u0131 toplant\u0131s\u0131n\u0131n ard\u0131ndan yapt\u0131\u011f\u0131 a\u00e7\u0131klamalar, piyasalardaki baz\u0131 \u00e7evrelerde uzun vadeli tahvil getirilerindeki art\u0131\u015f\u0131 memnuniyetle kar\u015f\u0131lad\u0131\u011f\u0131 izlenimini uyand\u0131rd\u0131 .<\/p>\n\n\n\n
Cleveland Fed\u2019in eski ba\u015fkan\u0131 Loretta Mester, tahvil t\u00fcccarlar\u0131n\u0131n bu belirsizli\u011fi hesaba katmak i\u00e7in faiz oranlar\u0131n\u0131 daha da y\u00fckseltti\u011fini s\u00f6yledi.<\/p>\n\n\n\n
Mester, CNBC\u2019ye verdi\u011fi bir r\u00f6portajda, \u201cBence ya\u015fananlar\u0131n bir k\u0131sm\u0131, Kevin Warsh\u2019\u0131n planlar\u0131n\u0131n ne oldu\u011fu konusunda hen\u00fcz \u00e7ok fazla netli\u011fe sahip olmamam\u0131zdan kaynaklan\u0131yor,\u201d dedi . \u201cHatta tepki fonksiyonlar\u0131 konusunda bile netli\u011fimiz yok.\u201d<\/p>\n\n\n\n
Warsh, Temmuz ay\u0131nda enflasyondan endi\u015fe duydu\u011funu s\u00f6ylemi\u015fti, ancak enflasyonu ele almak i\u00e7in faiz oranlar\u0131n\u0131 y\u00fckseltmesi i\u00e7in ne gerekece\u011fi konusunda gazetecilerin sorular\u0131na do\u011frudan cevap vermemi\u015fti.<\/p>\n\n\n\n
Federal ba\u011f\u0131ms\u0131zl\u0131k
Warsh, Fed\u2019in finansal sistemin belirli y\u00f6nleri \u00fczerindeki yetkisinin kesin s\u0131n\u0131rlar\u0131 konusunda da belirsiz ifadeler kulland\u0131.<\/p>\n\n\n\n
Warsh, Nisan ay\u0131ndaki Senato onay oturumunda, \u201cFed\u2019in ba\u011f\u0131ms\u0131zl\u0131\u011f\u0131, para politikas\u0131 y\u00fcr\u00fctme konusunda zirvede\u201d demi\u015fti. Bu incelikli g\u00f6r\u00fc\u015f, Fed\u2019in faaliyetlerinin baz\u0131 y\u00f6nlerinin tamamen ba\u011f\u0131ms\u0131z olmad\u0131\u011f\u0131 anlam\u0131na geliyor. Warsh, ba\u011f\u0131ms\u0131z olmayan politikaya \u00f6rnek olarak banka denetimini g\u00f6sterdi, ancak tam olarak nelerin dahil olup nelerin olmad\u0131\u011f\u0131n\u0131 belirtmedi.<\/p>\n\n\n\n
Warsh, daha \u00f6nce yapt\u0131\u011f\u0131 a\u00e7\u0131klamalarda Fed\u2019in Hazine ile olan ili\u015fkisini yeniden yazmas\u0131n\u0131 istedi\u011fini belirtmi\u015fti. 2025 y\u0131l\u0131nda, iki kurum aras\u0131ndaki sorumluluklar\u0131n payla\u015f\u0131m\u0131n\u0131n modern temelini olu\u015fturan ve Fed\u2019in siyasi ba\u011f\u0131ms\u0131zl\u0131\u011f\u0131n\u0131 g\u00fcvence alt\u0131na alan 1951 tarihli Hazine-Fed Anla\u015fmas\u0131\u2019n\u0131 g\u00fcncelleme \u00f6nerisinde bulunmu\u015ftu. Bu revize edilmi\u015f anla\u015fman\u0131n bir par\u00e7as\u0131 olarak Warsh, Hazine\u2019ye Fed\u2019in devasa bilan\u00e7osunda yap\u0131lacak herhangi bir b\u00fcy\u00fck d\u00fczenleme \u00fczerinde daha fazla yetki vermek istemi\u015fti.<\/p>\n\n\n\n
Warsh 2025\u2032te, \u201cHazine Bakan\u0131, Fed\u2019in elindeki varl\u0131klarda \u00f6nerilen de\u011fi\u015fikli\u011fi kabul edilebilir bulmak zorunda kalacak, \u00e7\u00fcnk\u00fc bu k\u0131smen gizlenmi\u015f bir mali politika\u201d demi\u015fti .<\/p>\n\n\n\n
Fed\u2019in bilan\u00e7osunda bulunan 6,7 trilyon dolarl\u0131k finansal varl\u0131klar hakk\u0131ndaki d\u00fc\u015f\u00fcnceleri, Bessent\u2019in planlar\u0131n\u0131n ba\u015far\u0131s\u0131n\u0131 veya ba\u015far\u0131s\u0131zl\u0131\u011f\u0131n\u0131 belirleyebilir. Warsh\u2019\u0131n mevcut planlar\u0131, Bessent\u2019in faiz oranlar\u0131n\u0131 d\u00fc\u015f\u00fcrme umutlar\u0131yla \u00e7eli\u015fiyor gibi g\u00f6r\u00fcn\u00fcyor. Warsh, Fed\u2019in genel varl\u0131klar\u0131n\u0131 azaltmas\u0131n\u0131 ve bunlar\u0131 k\u0131sa vadeli bor\u00e7lara kayd\u0131rmas\u0131n\u0131 istiyor; bu da uzun vadeli Hazine tahvillerinin getirisini muhtemelen art\u0131racakt\u0131r ki bu da Bessent\u2019in elde etmek istedi\u011finin tam tersidir.<\/p>\n\n\n\n
Ancak Fed bu konuda bile b\u00f6l\u00fcnm\u00fc\u015f durumda. Federal A\u00e7\u0131k Piyasa Komitesi\u2019nin Temmuz ay\u0131 toplant\u0131s\u0131n\u0131n yak\u0131n zamanda yay\u0131nlanan tutanaklar\u0131, Fed\u2019in bilan\u00e7osuna ili\u015fkin sorular\u0131, Warsh\u2019\u0131n bu konuda rapor haz\u0131rlamak \u00fczere g\u00f6revlendirdi\u011fi bir \u00e7al\u0131\u015fma grubunun geri d\u00f6n\u00fc\u015f\u00fcn\u00fc bekleyerek erteledi\u011fini g\u00f6sterdi. Bu da bu y\u0131l\u0131n sonlar\u0131nda veya gelecek y\u0131l\u0131n ba\u015flar\u0131nda ger\u00e7ekle\u015fecek.<\/p>\n\n\n\n
Hazine ve Fed, ge\u00e7mi\u015fte bilan\u00e7oda meydana gelen b\u00fcy\u00fck de\u011fi\u015fiklikler konusunda pratikte birbirleriyle ileti\u015fim kurmu\u015flard\u0131r. Bessent, Per\u015fembe g\u00fcn\u00fc CNBC\u2019ye verdi\u011fi bir r\u00f6portajda bunun devam edece\u011fini \u00f6ne s\u00fcrd\u00fc.<\/p>\n\n\n\n
Bessent, \u201cBence bilan\u00e7oda herhangi bir de\u011fi\u015fiklik olursa Hazine ve Fed birlikte \u00e7al\u0131\u015f\u0131r ve yapt\u0131klar\u0131 her t\u00fcrl\u00fc tasfiye i\u015flemine uyum sa\u011flar\u0131z\u201d dedi.<\/p>\n\n\n\n
Hem Fed hem de Hazine Bakanl\u0131\u011f\u0131, Bessent\u2019in yorumunun kendisi ve Warsh\u2019\u0131n koordinasyona ba\u015flad\u0131\u011f\u0131 anlam\u0131na gelip gelmedi\u011fiyle ilgili e-posta yoluyla g\u00f6nderilen sorulara yan\u0131t vermedi.<\/p>\n","protected":false},"excerpt":{"rendered":"
Cnbc haberine \u015f\u00f6yle ba\u015fl\u0131yor; Hazine Bakan\u0131 Scott Bessent, ger\u00e7ekten de yanl\u0131\u015f davrand\u0131\u011f\u0131n\u0131 d\u00fc\u015f\u00fcnd\u00fc\u011f\u00fc tahvil piyasas\u0131na federal h\u00fck\u00fcmetin t\u00fcm g\u00fcc\u00fcn\u00fc uygulamak<\/p>\n","protected":false},"author":1,"featured_media":11478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[1],"tags":[167,55],"class_list":["post-11477","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finansal-piyasalar","tag-bessent","tag-warsh"],"_links":{"self":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/11477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11477"}],"version-history":[{"count":1,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/11477\/revisions"}],"predecessor-version":[{"id":11479,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/11477\/revisions\/11479"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/media\/11478"}],"wp:attachment":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}