Ba\u015fkan Donald Trump\u2019\u0131n ekonomi politikalar\u0131, kendi atad\u0131\u011f\u0131 Fed Ba\u015fkan\u0131 Kevin Warsh\u2019\u0131 bu hafta zor bir karar\u0131n e\u015fi\u011fine getirirken, yeniden y\u00fckselen g\u00fcmr\u00fck vergileri ve devam eden \u0130ran sava\u015f\u0131 enflasyon g\u00f6r\u00fcn\u00fcm\u00fcn\u00fc \u00f6nemli \u00f6l\u00e7\u00fcde de\u011fi\u015ftirdi. Ba\u015flang\u0131\u00e7ta \u201cge\u00e7ici arz \u015foklar\u0131\u201d olarak de\u011ferlendirilebilecek bu geli\u015fmelerin art\u0131k daha kal\u0131c\u0131 bir enflasyon bask\u0131s\u0131na d\u00f6n\u00fc\u015fme riski ta\u015f\u0131d\u0131\u011f\u0131 belirtiliyor.<\/p>\n
Bug\u00fcn risk piyasalar\u0131nda da hava k\u0131smen toparland\u0131; S&P 500 seans\u0131n en d\u00fc\u015f\u00fck seviyelerinden y\u00fckselse de h\u00e2l\u00e2 17 puan ekside bulunuyor. Petrol fiyatlar\u0131n\u0131n bir miktar geri vermesi ve 10 y\u0131ll\u0131k ABD tahvil faizlerinin y\u00fczde 5,00 seviyesinden geri \u00e7ekilmesiyle birlikte, Trump\u2019\u0131n yapay zek\u00e2 ve enerjiye dair a\u00e7\u0131klamalar\u0131 teknoloji hisselerini destekledi.<\/p>\n
Trump, yapay zek\u00e2 d\u00fczenlemesi yapmayaca\u011f\u0131n\u0131, bunun i\u00e7in gerekenin yaln\u0131zca \u201cy\u00fcksek IQ\u2019lu bir ba\u015fkan\u201d oldu\u011funu s\u00f6ylerken, Rusya ile Ukrayna\u2019n\u0131n enerji altyap\u0131s\u0131na sald\u0131rmama konusunda anla\u015ft\u0131\u011f\u0131n\u0131 ve \u0130ran\u2019la askeri \u00e7at\u0131\u015fman\u0131n \u201cuzun s\u00fcrmeyece\u011fini\u201d dile getirdi. Ayr\u0131ca yapay zek\u00e2 d\u00fczenlemesini bir \u201caldatmaca\u201d ve \u201csa\u00e7mal\u0131k\u201d olarak nitelendirip g\u00f6rev s\u00fcresi i\u00e7inde bunun \u201cdurdurulmayaca\u011f\u0131n\u0131\u201d s\u00f6yledi.<\/p>\n
\u00d6te yandan petrol piyasas\u0131, Zelenskiy\u2019nin fiilen bunu reddetmesi nedeniyle Rusya-Ukrayna aras\u0131nda ger\u00e7ekten bir anla\u015fma olup olmad\u0131\u011f\u0131ndan emin de\u011fil; buna kar\u015f\u0131n ABD dolar\u0131n\u0131n erken saatlerdeki zirveden beri istikrarl\u0131 bi\u00e7imde sat\u0131ld\u0131\u011f\u0131 ve AUD, bitcoin ile alt\u0131n\u0131n da buna e\u015flik eden risk i\u015flemleri aras\u0131nda y\u00fckseldi\u011fi aktar\u0131l\u0131yor. Buna ra\u011fmen bu hareketler i\u00e7in \u00e7ar\u015famba g\u00fcnk\u00fc FOMC toplant\u0131s\u0131 \u00f6ncesinde fazla heyecanlan\u0131lmamas\u0131 gerekti\u011fi vurgulan\u0131yor.<\/p>\n
Fed a\u00e7\u0131s\u0131ndan kritik mesele yaln\u0131zca faizin art\u0131r\u0131l\u0131p art\u0131r\u0131lmayaca\u011f\u0131 de\u011fil; Warsh\u2019\u0131n Trump y\u00f6netiminin a\u00e7\u0131k faiz indirimi bask\u0131s\u0131na ra\u011fmen enflasyonla m\u00fccadelede ba\u011f\u0131ms\u0131z hareket edebilece\u011fini piyasaya kan\u0131tlamas\u0131 gerekiyor. Jackson Hole\u2019daki mesaj\u0131nda temel enflasyonun yeterince geriledi\u011finden emin olunmamas\u0131 halinde Fed\u2019in \u201cyapacak i\u015fi olaca\u011f\u0131n\u0131\u201d s\u00f6yleyen Warsh i\u00e7in Eyl\u00fcl toplant\u0131s\u0131, kredibilite ve Fed\u2019in ba\u011f\u0131ms\u0131zl\u0131\u011f\u0131 a\u00e7\u0131s\u0131ndan bir test niteli\u011fi ta\u015f\u0131yor.<\/p>\n
Minneapolis Fed Ba\u015fkan\u0131 Neel Kashkari\u2019nin, art arda gelen arz \u015foklar\u0131n\u0131n y\u00fcksek enflasyonu kal\u0131c\u0131la\u015ft\u0131rabilece\u011fine dair artan endi\u015fesi de bu tabloyu g\u00fc\u00e7lendiriyor. Eski Fed Ba\u015fkan Yard\u0131mc\u0131s\u0131 Roger Ferguson\u2019\u0131n i\u015faret etti\u011fi gibi, enflasyonun hedefin \u00fczerinde kalmas\u0131, petrol fiyatlar\u0131n\u0131n ne kadar s\u00fcre y\u00fcksek seyredece\u011finin belirsizli\u011fi ve tarife risklerinin s\u00fcrmesi nedeniyle piyasalardaki as\u0131l soru art\u0131k faiz seviyesinden \u00e7ok Fed\u2019in siyasi bask\u0131lara kar\u015f\u0131 ba\u011f\u0131ms\u0131z kal\u0131p kalamayaca\u011f\u0131.<\/p>\n","protected":false},"excerpt":{"rendered":"
Ba\u015fkan Donald Trump\u2019\u0131n ekonomi politikalar\u0131, kendi atad\u0131\u011f\u0131 Fed Ba\u015fkan\u0131 Kevin Warsh\u2019\u0131 bu hafta zor bir karar\u0131n e\u015fi\u011fine getirirken, yeniden y\u00fckselen<\/p>\n","protected":false},"author":1,"featured_media":18042,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","fxk_merge_backup":"[{\"ts\":\"2026-09-14 18:01:55\",\"content\":\"\\nBa\\u015fkan Donald Trump\\u2019\\u0131n uygulad\\u0131\\u011f\\u0131 ekonomi politikalar\\u0131, kendi atad\\u0131\\u011f\\u0131 Fed Ba\\u015fkan\\u0131 Kevin Warsh\\u2019\\u0131 bu hafta zor bir karar\\u0131n e\\u015fi\\u011fine getirdi. Yeniden y\\u00fckselen g\\u00fcmr\\u00fck vergileri ve devam eden \\u0130ran sava\\u015f\\u0131, enflasyon g\\u00f6r\\u00fcn\\u00fcm\\u00fcn\\u00fc \\u00f6nemli \\u00f6l\\u00e7\\u00fcde de\\u011fi\\u015ftirdi. Ba\\u015flang\\u0131\\u00e7ta \\u201cge\\u00e7ici arz \\u015foklar\\u0131\\u201d olarak de\\u011ferlendirilebilecek bu geli\\u015fmeler art\\u0131k daha kal\\u0131c\\u0131 bir enflasyon bask\\u0131s\\u0131na d\\u00f6n\\u00fc\\u015fme riski ta\\u015f\\u0131yor.\\n\\n\\n\\nFed a\\u00e7\\u0131s\\u0131ndan kritik mesele yaln\\u0131zca faizin art\\u0131r\\u0131l\\u0131p art\\u0131r\\u0131lmayaca\\u011f\\u0131 de\\u011fil. Warsh\\u2019\\u0131n, Trump y\\u00f6netiminin a\\u00e7\\u0131k faiz indirimi bask\\u0131s\\u0131na ra\\u011fmen enflasyonla m\\u00fccadelede ba\\u011f\\u0131ms\\u0131z hareket edebilece\\u011fini piyasaya kan\\u0131tlamas\\u0131 gerekiyor.\\n\\n\\n\\n\\n\\n\\u0130\\u00e7indekiler\\n\\nTrump\\u2019\\u0131n Politikalar\\u0131 Fed\\u2019in Elini G\\u00fc\\u00e7le\\u015ftiriyorG\\u00fcmr\\u00fck Vergileri ve \\u0130ran Sava\\u015f\\u0131 Enflasyon Riskini Art\\u0131r\\u0131yorWarsh\\u2019\\u0131n Jackson Hole Mesaj\\u0131 KritikKashkari\\u2019den Dikkat \\u00c7eken Uyar\\u0131Warsh\\u2019\\u0131n As\\u0131l S\\u0131nav\\u0131: Fed\\u2019in Ba\\u011f\\u0131ms\\u0131zl\\u0131\\u011f\\u0131Piyasalar \\u0130\\u00e7in Kritik SoruPiyasalar \\u0130\\u00e7in Olas\\u0131 Sonu\\u00e7larSonu\\u00e7: Warsh \\u0130\\u00e7in Rakamdan Daha B\\u00fcy\\u00fck Bir S\\u0131nav\\nTrump\\u2019\\u0131n Politikalar\\u0131 Fed\\u2019in Elini G\\u00fc\\u00e7le\\u015ftiriyor\\n\\n\\n\\nYakla\\u015f\\u0131k alt\\u0131 ay \\u00f6nce tablo olduk\\u00e7a farkl\\u0131yd\\u0131. \\u0130ran sava\\u015f\\u0131n\\u0131n ba\\u015flamas\\u0131ndan k\\u0131sa s\\u00fcre sonra petrol fiyatlar\\u0131 100 dolar civar\\u0131na y\\u00fckselmi\\u015f olmas\\u0131na ra\\u011fmen Fed yetkililerinin \\u00f6nemli b\\u00f6l\\u00fcm\\u00fc y\\u0131l i\\u00e7inde ve takip eden d\\u00f6nemde faiz indirimleri \\u00f6ng\\u00f6r\\u00fcyordu.\\n\\n\\n\\nBu yakla\\u015f\\u0131m, Trump y\\u00f6netiminin g\\u00fcmr\\u00fck vergileri ve enerji fiyatlar\\u0131ndaki y\\u00fckseli\\u015f gibi geli\\u015fmelerin enflasyon \\u00fczerindeki etkisini b\\u00fcy\\u00fck \\u00f6l\\u00e7\\u00fcde ge\\u00e7ici kabul etti\\u011fini g\\u00f6steriyordu.\\n\\n\\n\\nBug\\u00fcn ise piyasa, 2023\\u2019ten bu yana ilk faiz art\\u0131r\\u0131m\\u0131n\\u0131n ger\\u00e7ekle\\u015febilece\\u011fi bir FOMC toplant\\u0131s\\u0131na haz\\u0131rlan\\u0131yor.\\n\\n\\n\\n\\u00dcstelik vadeli piyasalardaki fiyatlama, bunun tek seferlik bir hamle olmayabilece\\u011fine i\\u015faret ediyor. Gelecek y\\u0131l\\u0131n ilkbahar\\u0131na kadar en az \\u00fc\\u00e7 faiz art\\u0131r\\u0131m\\u0131 ihtimali fiyatlan\\u0131yor.\\n\\n\\n\\nBu d\\u00f6n\\u00fc\\u015f\\u00fcm, Fed\\u2019in ekonomik g\\u00f6r\\u00fcn\\u00fcmdeki de\\u011fi\\u015fimi nas\\u0131l de\\u011ferlendirdi\\u011fini g\\u00f6steriyor.\\n\\n\\n\\nG\\u00fcmr\\u00fck Vergileri ve \\u0130ran Sava\\u015f\\u0131 Enflasyon Riskini Art\\u0131r\\u0131yor\\n\\n\\n\\nFed\\u2019in \\u00f6n\\u00fcndeki en b\\u00fcy\\u00fck sorunlardan biri, Trump y\\u00f6netiminin politikalar\\u0131n\\u0131n art\\u0131k yaln\\u0131zca tek seferlik fiyat art\\u0131\\u015flar\\u0131 yarat\\u0131p yaratmad\\u0131\\u011f\\u0131.\\n\\n\\n\\n\\u0130ran sava\\u015f\\u0131n\\u0131n alt\\u0131nc\\u0131 ay\\u0131na girmesine ra\\u011fmen \\u00e7at\\u0131\\u015fman\\u0131n sona erece\\u011fine dair g\\u00fc\\u00e7l\\u00fc bir i\\u015faret bulunmuyor. \\u00dcstelik Suudi Arabistan\\u2019daki Do\\u011fu-Bat\\u0131 petrol boru hatt\\u0131n\\u0131n ge\\u00e7ici olarak kapanmas\\u0131, enerji arz\\u0131na ili\\u015fkin riskleri daha da art\\u0131rd\\u0131.\\n\\n\\n\\nPetrol fiyatlar\\u0131n\\u0131n k\\u0131sa s\\u00fcrede eski seviyelerine d\\u00f6n\\u00fcp d\\u00f6nmeyece\\u011fi art\\u0131k \\u00e7ok daha belirsiz.\\n\\n\\n\\nDizel fiyatlar\\u0131n\\u0131n galon ba\\u015f\\u0131na 6 dolara yakla\\u015fmas\\u0131 da enerji \\u015fokunun ekonominin daha geni\\u015f kesimlerine yay\\u0131labilece\\u011fi endi\\u015fesini art\\u0131r\\u0131yor. Ula\\u015ft\\u0131rma maliyetlerinden g\\u0131da fiyatlar\\u0131na kadar bir\\u00e7ok alanda yeni fiyat bask\\u0131lar\\u0131 olu\\u015fmas\\u0131, Fed\\u2019in \\u201cge\\u00e7ici arz \\u015foku\\u201d yakla\\u015f\\u0131m\\u0131n\\u0131 s\\u00fcrd\\u00fcrmesini zorla\\u015ft\\u0131r\\u0131yor.\\n\\n\\n\\nBenzer durum g\\u00fcmr\\u00fck vergileri i\\u00e7in de ge\\u00e7erli.\\n\\n\\n\\nTrump y\\u00f6netiminin Kanada\\u2019ya y\\u00f6nelik yeni tarifeleri, mevcut ticaret engellerinin \\u00fczerine eklenirken, ba\\u015fkan\\u0131n gelecekte daha fazla tarife uygulayabilece\\u011fine ili\\u015fkin tehditleri de devam ediyor.\\n\\n\\n\\nPiyasan\\u0131n ald\\u0131\\u011f\\u0131 mesaj olduk\\u00e7a a\\u00e7\\u0131k:\\n\\n\\n\\nTrump d\\u00f6neminde g\\u00fcmr\\u00fck vergilerinin ger\\u00e7ekten \\u201ctek seferlik\\u201d oldu\\u011funa g\\u00fcvenmek giderek zorla\\u015f\\u0131yor.\\n\\n\\n\\nWarsh\\u2019\\u0131n Jackson Hole Mesaj\\u0131 Kritik\\n\\n\\n\\nKevin Warsh\\u2019\\u0131n Jackson Hole toplant\\u0131s\\u0131ndaki mesaj\\u0131 da bu noktada \\u00f6nem kazan\\u0131yor.\\n\\n\\n\\nWarsh, temel enflasyonun yeterince geriledi\\u011finden emin olunmamas\\u0131 halinde Fed\\u2019in \\u201cyapacak i\\u015fi olaca\\u011f\\u0131n\\u0131\\u201d s\\u00f6yledi.\\n\\n\\n\\nBu a\\u00e7\\u0131klama, enflasyon bask\\u0131lar\\u0131n\\u0131n kal\\u0131c\\u0131 hale gelmesi durumunda daha s\\u0131k\\u0131 para politikas\\u0131n\\u0131n masada oldu\\u011funu g\\u00f6sterdi.\\n\\n\\n\\nAncak Warsh\\u2019\\u0131n kar\\u015f\\u0131 kar\\u015f\\u0131ya oldu\\u011fu problem yaln\\u0131zca ekonomik veriler de\\u011fil.\\n\\n\\n\\nTrump ve Ba\\u015fkan Yard\\u0131mc\\u0131s\\u0131 JD Vance uzun s\\u00fcredir daha d\\u00fc\\u015f\\u00fck faiz \\u00e7a\\u011fr\\u0131s\\u0131 yap\\u0131yor. Trump\\u2019\\u0131n Fed \\u00fczerindeki bask\\u0131y\\u0131 kamuoyu \\u00f6n\\u00fcnde art\\u0131rmas\\u0131, yeni Fed ba\\u015fkan\\u0131n\\u0131n kararlar\\u0131n\\u0131n siyasi bask\\u0131dan ba\\u011f\\u0131ms\\u0131z olup olmad\\u0131\\u011f\\u0131na ili\\u015fkin tart\\u0131\\u015fmay\\u0131 da b\\u00fcy\\u00fct\\u00fcyor.\\n\\n\\n\\nKashkari\\u2019den Dikkat \\u00c7eken Uyar\\u0131\\n\\n\\n\\nMinneapolis Fed Ba\\u015fkan\\u0131 Neel Kashkari\\u2019nin son a\\u00e7\\u0131klamalar\\u0131 da Fed i\\u00e7indeki d\\u00fc\\u015f\\u00fcncenin de\\u011fi\\u015fti\\u011fini g\\u00f6steriyor.\\n\\n\\n\\nKashkari daha \\u00f6nce arz kaynakl\\u0131 tek seferlik fiyat art\\u0131\\u015flar\\u0131n\\u0131n para politikas\\u0131 taraf\\u0131ndan b\\u00fcy\\u00fck \\u00f6l\\u00e7\\u00fcde g\\u00f6z ard\\u0131 edilebilece\\u011fini d\\u00fc\\u015f\\u00fcn\\u00fcyordu.\\n\\n\\n\\nAncak art\\u0131k art arda gelen arz \\u015foklar\\u0131n\\u0131n y\\u00fcksek enflasyonu kal\\u0131c\\u0131la\\u015ft\\u0131rabilece\\u011fi konusunda daha fazla endi\\u015fe ta\\u015f\\u0131yor.\\n\\n\\n\\nBu yakla\\u015f\\u0131m, 1970\\u2019lerde ya\\u015fanan enflasyon deneyimine de g\\u00f6nderme yap\\u0131yor. O d\\u00f6nemde Fed, ba\\u015flang\\u0131\\u00e7ta arz \\u015foku olarak de\\u011ferlendirilen geli\\u015fmelerin birbirini takip etmesi \\u00fczerine daha s\\u0131k\\u0131 para politikas\\u0131na y\\u00f6nelmek zorunda kalm\\u0131\\u015ft\\u0131.\\n\\n\\n\\nBug\\u00fcnk\\u00fc tart\\u0131\\u015fman\\u0131n merkezinde de ayn\\u0131 soru bulunuyor:\\n\\n\\n\\nEnerji ve ticaret kaynakl\\u0131 fiyat art\\u0131\\u015flar\\u0131 ge\\u00e7ici mi kalacak, yoksa birbirini takip ederek kal\\u0131c\\u0131 enflasyon yaratacak m\\u0131?\\n\\n\\n\\nWarsh\\u2019\\u0131n As\\u0131l S\\u0131nav\\u0131: Fed\\u2019in Ba\\u011f\\u0131ms\\u0131zl\\u0131\\u011f\\u0131\\n\\n\\n\\nTrump\\u2019\\u0131n Warsh\\u2019\\u0131 faiz indirimi konusunda a\\u00e7\\u0131k\\u00e7a desteklemesi, yeni Fed ba\\u015fkan\\u0131n\\u0131n g\\u00f6reve ba\\u015flad\\u0131\\u011f\\u0131 andan itibaren kredibilite sorunuyla kar\\u015f\\u0131 kar\\u015f\\u0131ya kalmas\\u0131na neden oldu.\\n\\n\\n\\nWarsh\\u2019\\u0131n Kongre\\u2019deki ilk a\\u00e7\\u0131klamalar\\u0131nda, Trump\\u2019\\u0131n istedi\\u011fi y\\u00f6nde faiz indirimleri yapmamas\\u0131n\\u0131n Fed\\u2019in ba\\u011f\\u0131ms\\u0131zl\\u0131\\u011f\\u0131n\\u0131n bir g\\u00f6stergesi olaca\\u011f\\u0131n\\u0131 vurgulamas\\u0131 da bu a\\u00e7\\u0131dan dikkat \\u00e7ekiciydi.\\n\\n\\n\\n\\u015eimdi ise Warsh\\u2019\\u0131n \\u00f6n\\u00fcnde daha zor bir s\\u0131nav bulunuyor.\\n\\n\\n\\nE\\u011fer enflasyon y\\u00fcksek kal\\u0131rken Fed faizi art\\u0131r\\u0131rsa, Trump y\\u00f6netimiyle a\\u00e7\\u0131k bir politika ayr\\u0131l\\u0131\\u011f\\u0131 ya\\u015fanabilir.\\n\\n\\n\\nFaizi art\\u0131rmazsa, piyasalar bu kez Fed\\u2019in siyasi bask\\u0131ya boyun e\\u011fdi\\u011fini d\\u00fc\\u015f\\u00fcnebilir.\\n\\n\\n\\nDolay\\u0131s\\u0131yla karar\\u0131n her iki taraf\\u0131nda da ciddi bir maliyet var.\\n\\n\\n\\nPiyasalar \\u0130\\u00e7in Kritik Soru\\n\\n\\n\\nEski Fed Ba\\u015fkan Yard\\u0131mc\\u0131s\\u0131 Roger Ferguson\\u2019\\u0131n da dikkat \\u00e7ekti\\u011fi gibi, mevcut ko\\u015fullar Eyl\\u00fcl toplant\\u0131s\\u0131n\\u0131 Fed\\u2019in harekete ge\\u00e7mesi i\\u00e7in uygun bir d\\u00f6nem haline getiriyor.\\n\\n\\n\\nEnflasyon hedefin \\u00fczerinde.\\n\\n\\n\\nPetrol fiyatlar\\u0131n\\u0131n ne kadar s\\u00fcre y\\u00fcksek kalaca\\u011f\\u0131 belirsiz.\\n\\n\\n\\nG\\u00fcmr\\u00fck vergilerinin daha da art\\u0131r\\u0131l\\u0131p art\\u0131r\\u0131lmayaca\\u011f\\u0131 bilinmiyor.\\n\\n\\n\\nVe Fed\\u2019in ba\\u011f\\u0131ms\\u0131zl\\u0131\\u011f\\u0131 \\u00fczerindeki siyasi bask\\u0131 devam ediyor.\\n\\n\\n\\nBu ko\\u015fullar alt\\u0131nda Warsh\\u2019\\u0131n faiz karar\\u0131 yaln\\u0131zca para politikas\\u0131n\\u0131n y\\u00f6n\\u00fcn\\u00fc belirlemeyecek. Ayn\\u0131 zamanda Fed\\u2019in siyasi bask\\u0131lara ra\\u011fmen enflasyonla m\\u00fccadele etmeye ne kadar haz\\u0131r oldu\\u011funu g\\u00f6sterecek.\\n\\n\\n\\nPiyasalar \\u0130\\u00e7in Olas\\u0131 Sonu\\u00e7lar\\n\\n\\n\\nDolar: Faiz art\\u0131r\\u0131m\\u0131n\\u0131n ger\\u00e7ekle\\u015fmesi ve Fed\\u2019in \\u015fahin bir mesaj vermesi dolar i\\u00e7in destekleyici olabilir. Ancak Trump y\\u00f6netimiyle a\\u00e7\\u0131k bir \\u00e7at\\u0131\\u015fma olu\\u015fmas\\u0131, siyasi risk primini art\\u0131rabilir.\\n\\n\\n\\nTahviller: Faiz art\\u0131r\\u0131m\\u0131 k\\u0131sa vadeli tahvil getirilerini yukar\\u0131 \\u00e7ekebilir. Daha uzun vadede ise as\\u0131l belirleyici unsur Fed\\u2019in enflasyonu kontrol alt\\u0131nda tutabilece\\u011fine dair g\\u00fcven olacak.\\n\\n\\n\\nAlt\\u0131n: \\u0130lk a\\u015famada y\\u00fckselen reel getiriler ve g\\u00fc\\u00e7l\\u00fc dolar alt\\u0131n \\u00fczerinde bask\\u0131 olu\\u015fturabilir. Ancak Fed ba\\u011f\\u0131ms\\u0131zl\\u0131\\u011f\\u0131na ili\\u015fkin endi\\u015felerin artmas\\u0131 ve enflasyon riskinin kal\\u0131c\\u0131la\\u015fmas\\u0131, uzun vadede alt\\u0131na y\\u00f6nelik g\\u00fcvenli liman talebini g\\u00fc\\u00e7lendirebilir.\\n\\n\\n\\nBorsa: Daha y\\u00fcksek faizler \\u00f6zellikle teknoloji ve b\\u00fcy\\u00fcme hisseleri \\u00fczerinde bask\\u0131 yaratabilir. Fed\\u2019in enflasyonu kontrol alt\\u0131na almak i\\u00e7in daha uzun s\\u00fcre s\\u0131k\\u0131 kalaca\\u011f\\u0131 alg\\u0131s\\u0131, risk i\\u015ftah\\u0131n\\u0131 da s\\u0131n\\u0131rlayabilir.\\n\\n\\n\\nKripto: Bitcoin ve altcoinler y\\u00fckselen tahvil getirileri ve g\\u00fc\\u00e7l\\u00fc dolar kar\\u015f\\u0131s\\u0131nda daha k\\u0131r\\u0131lgan hale gelebilir. Faizlerin uzun s\\u00fcre y\\u00fcksek kalaca\\u011f\\u0131 beklentisi, likidite ko\\u015fullar\\u0131n\\u0131 s\\u0131k\\u0131la\\u015ft\\u0131rarak kripto piyasas\\u0131n\\u0131n risk i\\u015ftah\\u0131n\\u0131 olumsuz etkileyebilir.\\n\\n\\n\\nSonu\\u00e7: Warsh \\u0130\\u00e7in Rakamdan Daha B\\u00fcy\\u00fck Bir S\\u0131nav\\n\\n\\n\\nFed\\u2019in g\\u00f6revi Trump y\\u00f6netiminin politikalar\\u0131n\\u0131 siyasi a\\u00e7\\u0131dan de\\u011ferlendirmek de\\u011fil, bu politikalar\\u0131n ekonomi \\u00fczerindeki sonu\\u00e7lar\\u0131n\\u0131 fiyat istikrar\\u0131 ve istihdam hedefleri a\\u00e7\\u0131s\\u0131ndan analiz etmek.\\n\\n\\n\\nBu nedenle \\u0130ran sava\\u015f\\u0131n\\u0131n uzamas\\u0131, enerji fiyatlar\\u0131n\\u0131n y\\u00fcksek kalmas\\u0131 ve g\\u00fcmr\\u00fck vergilerinin yeniden art\\u0131r\\u0131lmas\\u0131 Fed a\\u00e7\\u0131s\\u0131ndan g\\u00f6z ard\\u0131 edilmesi kolay geli\\u015fmeler olmaktan \\u00e7\\u0131k\\u0131yor.\\n\\n\\n\\nWarsh bu hafta faiz art\\u0131r\\u0131rsa, Trump\\u2019\\u0131n politikalar\\u0131na ra\\u011fmen Fed\\u2019in enflasyonla m\\u00fccadelede ba\\u011f\\u0131ms\\u0131z kalabilece\\u011fini g\\u00f6stermi\\u015f olacak.\\n\\n\\n\\nFaizi art\\u0131rmazsa ise piyasan\\u0131n as\\u0131l sorgulayaca\\u011f\\u0131 \\u015fey faiz seviyesi de\\u011fil, Fed\\u2019in siyasi bask\\u0131lara kar\\u015f\\u0131 ba\\u011f\\u0131ms\\u0131zl\\u0131\\u011f\\u0131 olacak.\\n\\n\\n\\nBu nedenle \\u00f6n\\u00fcm\\u00fczdeki toplant\\u0131 yaln\\u0131zca bir faiz karar\\u0131 de\\u011fil, Kevin Warsh\\u2019\\u0131n kredibilitesini ve Fed\\u2019in ba\\u011f\\u0131ms\\u0131zl\\u0131\\u011f\\u0131na y\\u00f6nelik piyasa g\\u00fcvenini belirleyecek kritik bir test niteli\\u011finde.\\n\\ud83d\\udca1 Bilgi Notu: \\u201cVadeli piyasalar\\u201d gelecekteki bir tarihte olacak geli\\u015fmeler i\\u00e7in \\u015fimdiden yap\\u0131lan fiyatlamay\\u0131 ifade eder; yat\\u0131r\\u0131mc\\u0131lar bu yolla beklentilerini \\u00f6nceden fiyatlar. \\u201cArz \\u015foku\\u201d ise mal veya enerji gibi bir kalemin aniden zorla\\u015fmas\\u0131yla fiyatlar\\u0131n h\\u0131zl\\u0131 y\\u00fckselmesi demektir.\\ud83d\\udcca Piyasa Etkisi: Faiz art\\u0131r\\u0131m\\u0131 beklentisinin g\\u00fc\\u00e7lenmesi dolar i\\u00e7in destekleyici, tahvil fiyatlar\\u0131 i\\u00e7in ise bask\\u0131lay\\u0131c\\u0131 olabilir. Fed\\u2019in siyasi bask\\u0131ya ra\\u011fmen enflasyonla m\\u00fccadelede sert kalaca\\u011f\\u0131 alg\\u0131s\\u0131 artarsa, alt\\u0131n ve kripto \\u00fczerinde k\\u0131sa vadeli bask\\u0131 g\\u00f6r\\u00fclebilir. Ancak ba\\u011f\\u0131ms\\u0131zl\\u0131k tart\\u0131\\u015fmas\\u0131n\\u0131n b\\u00fcy\\u00fcmesi piyasalarda oynakl\\u0131\\u011f\\u0131 da art\\u0131rabilir.\"}]","footnotes":""},"categories":[1],"tags":[26,55],"class_list":["post-18041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finansal-piyasalar","tag-fed","tag-warsh"],"_links":{"self":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/18041","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=18041"}],"version-history":[{"count":3,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/18041\/revisions"}],"predecessor-version":[{"id":18050,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/18041\/revisions\/18050"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/media\/18042"}],"wp:attachment":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}