{"id":7868,"date":"2026-08-07T01:09:00","date_gmt":"2026-08-06T22:09:00","guid":{"rendered":"https:\/\/fxknews.com\/?p=7868"},"modified":"2026-08-07T01:03:27","modified_gmt":"2026-08-06T22:03:27","slug":"7868","status":"publish","type":"post","link":"https:\/\/fxknews.com\/?p=7868","title":{"rendered":""},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">St. Louis Federal Rezerv Bankas\u0131 Ba\u015fkan\u0131 Alberto Musalem, enflasyonun hedef seviyesinin olduk\u00e7a \u00fczerinde kald\u0131\u011f\u0131n\u0131 ve risklerin artt\u0131\u011f\u0131n\u0131 belirterek, para politikas\u0131n\u0131n verimlilik art\u0131\u015flar\u0131n\u0131 kovalamak i\u00e7in gev\u015fek para politikas\u0131 izlemek yerine anlaml\u0131 bir k\u0131s\u0131tlama uygulamas\u0131 gerekti\u011fini, aksi takdirde Fed&#8217;in g\u00fcvenilirli\u011finin riske girece\u011fi konusunda uyard\u0131, kademeli art\u0131\u015flar\u0131n ani art\u0131\u015flardan daha az maliyetli oldu\u011funu s\u00f6yledi.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Musalem, piyasalara Fed&#8217;in enflasyon kontrol\u00fcn\u00fc verimlilik kayg\u0131s\u0131yla takas etmeyece\u011fini s\u00f6yl\u00fcyor ve bundan sonraki politikalarda b\u00fcy\u00fcme umutlar\u0131 de\u011fil, g\u00fcvenilirli\u011fin belirleyici olmas\u0131 gerekti\u011fini savunuyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u00d6zet:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Musalem, enflasyonun Fed&#8217;in %2&#8217;lik hedefinin olduk\u00e7a \u00fczerinde oldu\u011funu ve risk dengesinin, enflasyonun bir y\u0131l veya daha uzun s\u00fcre hedefin \u00fczerinde kalmas\u0131 y\u00f6n\u00fcnde oldu\u011funu s\u00f6yledi.<\/li>\n\n\n\n<li>Para politikas\u0131n\u0131n, gelecekteki verimlilik art\u0131\u015flar\u0131 umuduyla \u015fu anki y\u00fcksek enflasyona m\u00fcsamaha g\u00f6stermek yerine, temel enflasyon \u00fczerinde anlaml\u0131 bir k\u0131s\u0131tlama getirmesinin \u00e7ok \u00f6nemli oldu\u011funu s\u00f6yledi.<\/li>\n\n\n\n<li>Musalem, verimlili\u011fi art\u0131rmak i\u00e7in gev\u015fetme politikas\u0131n\u0131n bir hata olaca\u011f\u0131n\u0131, \u00e7\u00fcnk\u00fc bunun Fed&#8217;in g\u00fcvenilirli\u011finin garanti oldu\u011funu varsayd\u0131\u011f\u0131n\u0131 savundu.<\/li>\n\n\n\n<li>Ona g\u00f6re bu denge ancak hanehalklar\u0131, firmalar ve yat\u0131r\u0131mc\u0131lar enflasyonun hedef seviyeye d\u00f6nece\u011fini beklemeye devam ederse i\u015fe yarar ve hedef seviyenin \u00fczerinde enflasyona tolerans g\u00f6stermek, bu beklentiyi zedeleyebilir.<\/li>\n\n\n\n<li>Musalem, son aylarda ekonominin diren\u00e7li oldu\u011funu, i\u015fg\u00fcc\u00fc piyasas\u0131n\u0131n istikrara kavu\u015ftu\u011funu, sa\u011flam bir istihdam art\u0131\u015f\u0131 ya\u015fand\u0131\u011f\u0131n\u0131 ve i\u015fsizli\u011fin uzun vadeli seviyesine yak\u0131n oldu\u011funu belirtti.<\/li>\n\n\n\n<li>S\u00e3o Paulo i\u00e7in haz\u0131rlanan bir konu\u015fmada dile getirilen bu a\u00e7\u0131klamalar, Fed&#8217;in faiz oranlar\u0131n\u0131 %3,5 ile %3,75 aras\u0131nda tuttu\u011fu ge\u00e7en haftaki FOMC toplant\u0131s\u0131ndan bu yana yapt\u0131\u011f\u0131 ilk a\u00e7\u0131klamalar oldu.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">St. Louis Federal Rezerv Bankas\u0131 Ba\u015fkan\u0131 Alberto Musalem, enflasyonu d\u00fc\u015f\u00fcrmek i\u00e7in para politikas\u0131n\u0131n \u00e7al\u0131\u015fmaya devam etmesinin kritik \u00f6nem ta\u015f\u0131d\u0131\u011f\u0131n\u0131 belirterek, Fed&#8217;in gelecekte fiyatlar\u0131 d\u00fc\u015f\u00fcrebilecek daha y\u00fcksek verimlilik art\u0131\u015f\u0131n\u0131 te\u015fvik etme umuduyla para politikas\u0131n\u0131 gev\u015fetmemesi gerekti\u011fini savundu. Musalem, Per\u015fembe g\u00fcn\u00fc Brezilya&#8217;n\u0131n S\u00e3o Paulo kentinde yapaca\u011f\u0131 konu\u015fma i\u00e7in haz\u0131rlad\u0131\u011f\u0131 metinde, enflasyonun Federal A\u00e7\u0131k Piyasa Komitesi&#8217;nin %2&#8217;lik hedefinin olduk\u00e7a \u00fczerinde kald\u0131\u011f\u0131n\u0131 ve risk dengesinin enflasyonun bir y\u0131l veya daha uzun s\u00fcre hedefin \u00fczerinde kalmas\u0131 y\u00f6n\u00fcnde oldu\u011funu s\u00f6yledi.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Musalem, para politikas\u0131n\u0131n, yar\u0131n verimlilik art\u0131\u015f\u0131 pe\u015finde ko\u015farken bug\u00fcn biraz daha y\u00fcksek enflasyona m\u00fcsamaha g\u00f6stermek yerine, temel enflasyonu anlaml\u0131 bir \u015fekilde kontrol alt\u0131nda tutmas\u0131n\u0131n \u00e7ok \u00f6nemli oldu\u011funu s\u00f6yledi. Konu\u015fmas\u0131n\u0131n b\u00fcy\u00fck bir b\u00f6l\u00fcm\u00fcn\u00fc, Fed&#8217;in daha y\u00fcksek verimlili\u011fe izin vermek i\u00e7in politikay\u0131 normalde oldu\u011fundan daha gev\u015fek tutmas\u0131 ve bunun da sonunda daha d\u00fc\u015f\u00fck fiyat bask\u0131lar\u0131na yol a\u00e7mas\u0131 umuduyla olas\u0131 bir takas\u0131 incelemeye ay\u0131rd\u0131. Bu t\u00fcr bir hamleyi hata olarak nitelendirerek, bu mant\u0131\u011f\u0131n merkez bankas\u0131n\u0131n g\u00fcvenilirli\u011fini hafife ald\u0131\u011f\u0131n\u0131 s\u00f6yledi. Ona g\u00f6re bu pazarl\u0131k ancak hane halklar\u0131n\u0131n, firmalar\u0131n ve yat\u0131r\u0131mc\u0131lar\u0131n enflasyonun hedef seviyesine d\u00f6nece\u011fini beklemeye devam etmesi nedeniyle i\u015fe yar\u0131yor ve gelecekteki verimlilik art\u0131\u015f\u0131 vaadiyle hedef seviyesinin \u00fczerinde enflasyona m\u00fcsamaha g\u00f6steren bir merkez bankas\u0131 bu \u00e7\u0131pay\u0131 riske atabilir.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Musalem ayr\u0131ca genel ekonomi konusunda da iyimser bir yakla\u015f\u0131m sergileyerek, son aylarda iyi bir performans g\u00f6sterdi\u011fini ve i\u015fg\u00fcc\u00fc piyasas\u0131n\u0131n istikrar kazand\u0131\u011f\u0131n\u0131, sa\u011flam bir istihdam art\u0131\u015f\u0131 ve uzun vadeli de\u011ferine yak\u0131n bir i\u015fsizlik oran\u0131n\u0131n s\u00f6z konusu oldu\u011funu belirtti. \u0130stikrarl\u0131 bir i\u015f piyasas\u0131 ile y\u00fcksek seyreden enflasyonun birle\u015fimi, Fed&#8217;in gev\u015feme i\u00e7in i\u015fg\u00fcc\u00fc piyasas\u0131ndaki zay\u0131fl\u0131\u011f\u0131 gerek\u00e7e g\u00f6stermeden fiyat istikrar\u0131na \u00f6ncelik verebilece\u011fi arg\u00fcman\u0131n\u0131 destekliyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bu a\u00e7\u0131klamalar, Musalem&#8217;in ge\u00e7en haftaki FOMC toplant\u0131s\u0131ndan bu yana yapt\u0131\u011f\u0131 ilk kamuoyu a\u00e7\u0131klamalar\u0131yd\u0131. S\u00f6z konusu toplant\u0131da yetkililer, federal fon oran\u0131 hedef aral\u0131\u011f\u0131n\u0131 %3,5 ile %3,75 aras\u0131nda sabit tutmu\u015ftu. Piyasalar, politika yap\u0131c\u0131lar\u0131n y\u00fcksek enflasyonu d\u00fc\u015f\u00fcrmek i\u00e7in faiz oranlar\u0131n\u0131 daha da art\u0131rmalar\u0131 gerekece\u011fi beklentisini fiyatland\u0131rmaya devam ediyor ve Musalem&#8217;in son a\u00e7\u0131klamalar\u0131 bu g\u00f6r\u00fc\u015f\u00fc pek de desteklemiyor.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>St. Louis Federal Rezerv Bankas\u0131 Ba\u015fkan\u0131 Alberto Musalem, enflasyonun hedef seviyesinin olduk\u00e7a \u00fczerinde kald\u0131\u011f\u0131n\u0131 ve risklerin artt\u0131\u011f\u0131n\u0131 belirterek, para politikas\u0131n\u0131n<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8],"tags":[26],"class_list":["post-7868","post","type-post","status-publish","format-standard","hentry","category-son-dakikalar","tag-fed"],"_links":{"self":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/7868","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=7868"}],"version-history":[{"count":2,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/7868\/revisions"}],"predecessor-version":[{"id":7872,"href":"https:\/\/fxknews.com\/index.php?rest_route=\/wp\/v2\/posts\/7868\/revisions\/7872"}],"wp:attachment":[{"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fxknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}