{"id":2668223,"date":"2025-10-14T19:00:37","date_gmt":"2025-10-14T19:00:37","guid":{"rendered":"https:\/\/www.wacoca.com\/news\/2668223\/"},"modified":"2025-10-14T19:00:37","modified_gmt":"2025-10-14T19:00:37","slug":"%e3%83%91%e3%82%a6%e3%82%a8%e3%83%abfrb%e8%ad%b0%e9%95%b7%e3%80%81%e6%95%b0%e3%82%ab%e6%9c%88%e4%bb%a5%e5%86%85%e3%81%ab%e3%83%90%e3%83%a9%e3%83%b3%e3%82%b9%e3%82%b7%e3%83%bc%e3%83%88%e7%b8%ae","status":"publish","type":"post","link":"https:\/\/www.wacoca.com\/news\/2668223\/","title":{"rendered":"\u30d1\u30a6\u30a8\u30ebFRB\u8b70\u9577\u3001\u6570\u30ab\u6708\u4ee5\u5185\u306b\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u7e2e\u5c0f\u505c\u6b62\u306e\u53ef\u80fd\u6027 – Bloomberg"},"content":{"rendered":"

\u7c73\u9023\u90a6\u6e96\u5099\u5236\u5ea6\u7406\u4e8b\u4f1a\uff08FRB\uff09\u306e\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f\u3001FRB\u304c\u6570\u30ab\u6708\u4ee5\u5185\u306b\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306e\u7e2e\u5c0f\u3092\u505c\u6b62\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3068\u793a\u5506\u3057\u305f\u3002<\/p>\n

\u3000\u3000\u30d1\u30a6\u30a8\u30eb\u6c0f\u306f\u307e\u305f\u3001\u52b4\u50cd\u5e02\u5834\u306e\u898b\u901a\u3057\u306f\u5f15\u304d\u7d9a\u304d\u60aa\u5316\u3057\u3066\u3044\u308b\u3068\u306e\u8a8d\u8b58\u3082\u793a\u3057\u305f\u300210\u6708\u306e\u8ffd\u52a0\u5229\u4e0b\u3052\u3092\u898b\u8fbc\u3080\u5e02\u5834\u306e\u671f\u5f85\u3092\u5f8c\u62bc\u3057\u3059\u308b\u30e1\u30c3\u30bb\u30fc\u30b8\u3068\u306a\u3063\u305f\u3002<\/p>\n

\u3000\u3000\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f14\u65e5\u3001\u30d5\u30a3\u30e9\u30c7\u30eb\u30d5\u30a3\u30a2\u3067\u958b\u304b\u308c\u305f\u5168\u7c73\u4f01\u696d\u30a8\u30b3\u30ce\u30df\u30b9\u30c8\u5354\u4f1a\uff08NABE\uff09\u306e\u30a4\u30d9\u30f3\u30c8\u3067\u767a\u8a00\u3002\u4e8b\u524d\u306b\u914d\u5e03\u3055\u308c\u305f\u539f\u7a3f\u306b\u3088\u308c\u3070\u3001\u300c\u308f\u308c\u308f\u308c\u304c\u304b\u306d\u3066\u8868\u660e\u3057\u3066\u304d\u305f\u8a08\u753b\u306f\u3001\u6e96\u5099\u9810\u91d1\u304c\u5341\u5206\uff08ample\uff09\u306a\u72b6\u6cc1\u3068\u5224\u65ad\u3055\u308c\u308b\u6c34\u6e96\u3092\u3084\u3084\u4e0a\u56de\u308b\u6642\u70b9\u3067\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306e\u30e9\u30f3\u30aa\u30d5\uff08\u511f\u9084\u306b\u4f34\u3046\u4fdd\u6709\u8a3c\u5238\u6e1b\u5c11\uff09\u3092\u505c\u6b62\u3059\u308b\u3068\u3044\u3046\u3082\u306e\u3060\u300d\u3068\u8aac\u660e\u3002<\/p>\n

\u3000\u3000\u300c\u4eca\u5f8c\u6570\u30ab\u6708\u3067\u305d\u306e\u6c34\u6e96\u306b\u8fd1\u3065\u304f\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002\u3053\u306e\u5224\u65ad\u3092\u4e0b\u3059\u305f\u3081\u3001\u308f\u308c\u308f\u308c\u306f\u5e45\u5e83\u3044\u6307\u6a19\u3092\u6ce8\u8996\u3057\u3066\u3044\u308b\u300d\u3068\u8ff0\u3079\u305f\u3002<\/p>\n

\u3000\u3000FRB\u306f2022\u5e74\u4ee5\u964d\u3001\u91cf\u7684\u5f15\u304d\u7de0\u3081\uff08QT\uff09\u3068\u3057\u3066\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306e\u7e2e\u5c0f\u3092\u9032\u3081\u3066\u3044\u308b\u3002\u65b0\u578b\u30b3\u30ed\u30ca\u30a6\u30a4\u30eb\u30b9\u798d\u3067\u666f\u6c17\u523a\u6fc0\u306e\u305f\u3081\u306b\u884c\u3063\u305f\u6570\u5146\u30c9\u30eb\u898f\u6a21\u306e\u8cc7\u7523\u8cfc\u5165\u3092\u5dfb\u304d\u623b\u3059\u53d6\u308a\u7d44\u307f\u3060\u3002\u4eca\u5e74\u306b\u5165\u3063\u3066\u304b\u3089\u306f\u30e9\u30f3\u30aa\u30d5\u306e\u4e0a\u9650\u3092\u6e1b\u984d\u3057\u3001\u7e2e\u5c0f\u30da\u30fc\u30b9\u3092\u7de9\u3081\u305f\u3002<\/p>\n

\u3000\u3000\u9280\u884c\u306e\u6e96\u5099\u9810\u91d1\u6e1b\u5c11\u306b\u4f34\u3044\u3001\u7c73\u77ed\u671f\u91d1\u878d\u5e02\u5834\u3067\u306f\u8cc7\u91d1\u8abf\u9054\u306e\u903c\u8feb\uff08\u3072\u3063\u3071\u304f\uff09\u304c\u9577\u5f15\u3044\u3066\u304a\u308a\u3001FRB\u304c\u30e9\u30f3\u30aa\u30d5\u505c\u6b62\u306e\u30bf\u30a4\u30df\u30f3\u30b0\u306b\u8fd1\u3065\u3044\u3066\u3044\u308b\u53ef\u80fd\u6027\u304c\u793a\u5506\u3055\u308c\u3066\u3044\u308b\u3002<\/p>\n

\"Fed<\/p>\n

\u30d1\u30a6\u30a8\u30ebFRB\u8b70\u9577<\/p>\n

Source: Bloomberg<\/p>\n

\u3000\u3000\u30d1\u30a6\u30a8\u30eb\u6c0f\u306f\u3053\u306e\u65e5\u306e\u8b1b\u6f14\u3067\u3001\u5f90\u3005\u306b\u5f15\u304d\u7de0\u307e\u308a\u3064\u3064\u3042\u308b\u300c\u5146\u5019\u304c\u3044\u304f\u3064\u304b\u898b\u3089\u308c\u308b\u300d\u3068\u6307\u6458\u3002\u300c2019\u5e749\u6708\u306b\u8d77\u304d\u305f\u3088\u3046\u306a\u77ed\u671f\u91d1\u878d\u5e02\u5834\u306e\u6df7\u4e71\u3092\u56de\u907f\u3059\u308b\u305f\u3081\u3001\u9023\u90a6\u516c\u958b\u5e02\u5834\u59d4\u54e1\u4f1a\uff08FOMC\uff09\u306e\u8a08\u753b\u306f\u610f\u56f3\u7684\u306b\u614e\u91cd\u306a\u30a2\u30d7\u30ed\u30fc\u30c1\u3092\u53d6\u3063\u3066\u3044\u308b\u300d\u3068\u8aac\u660e\u3057\u305f\u3002<\/p>\n

\u6e96\u5099\u9810\u91d1\u3078\u306e\u4ed8\u5229<\/p>\n

\u3000\u3000\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f\u307e\u305f\u3001\u91d1\u878d\u653f\u7b56\u3092\u5b9f\u65bd\u3059\u308b\u4e0a\u3067\u7528\u3044\u308b\u4e3b\u8981\u624b\u6bb5\u306e\u4e00\u3064\u3067\u3042\u308b\u5546\u696d\u9280\u884c\u306e\u6e96\u5099\u9810\u91d1\u3078\u306e\u4ed8\u5229\uff08IORB\uff09\u306b\u3064\u3044\u3066\u3001\u52b9\u679c\u7684\u306b\u6a5f\u80fd\u3057\u3066\u3044\u308b\u3068\u306e\u898b\u89e3\u3092\u793a\u3057\u305f\u3002IORB\u3092\u5de1\u3063\u3066\u306f\u3001\u4eca\u5e74\u306b\u5165\u308a\u4e00\u90e8\u8b70\u54e1\u306e\u9593\u3067\u6279\u5224\u304c\u51fa\u3066\u3044\u308b\u3002<\/p>\n

\u3000\u3000\u30d1\u30a6\u30a8\u30eb\u6c0f\u306f\u3001\u3053\u306e\u30c4\u30fc\u30eb\u306b\u3088\u3063\u3066FRB\u306f\u91d1\u878d\u653f\u7b56\u30b9\u30bf\u30f3\u30b9\u3092\u300c\u9069\u5207\u300d\u306b\u8abf\u6574\u3059\u308b\u3053\u3068\u304c\u53ef\u80fd\u306b\u306a\u3063\u3066\u3044\u308b\u3068\u8aac\u660e\u3057\u305f\u3002<\/p>\n

<\/p>\n

<\/p>\n

\u30d1\u30a6\u30a8\u30ebFRB\u8b70\u9577\u306e\u8b1b\u6f14\uff08\u629c\u7c8b\uff09<\/p>\n

Source: Bloomberg<\/p>\n

\u3000\u3000\u3053\u306e\u5236\u5ea6\u306f\u7d0420\u5e74\u524d\u3001\u91d1\u878d\u30b7\u30b9\u30c6\u30e0\u306e\u5b89\u5b9a\u3092\u652f\u3048\u308b\u76ee\u7684\u3067\u8b70\u4f1a\u306e\u627f\u8a8d\u3092\u53d7\u3051\u3001\u4e16\u754c\u91d1\u878d\u5371\u6a5f\u306e\u969b\u306b\u5c0e\u5165\u3055\u308c\u305f\u3002\u73fe\u5728\u3067\u306f\u3001FRB\u304c\u77ed\u671f\u91d1\u5229\u3092\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u3059\u308b\u4e0a\u3067\u6b20\u304b\u305b\u306a\u3044\u624b\u6bb5\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n

\u3000\u3000\u300c\u3082\u3057\u6e96\u5099\u9810\u91d1\u3084\u305d\u306e\u4ed6\u306e\u8ca0\u50b5\u3078\u306e\u4ed8\u5229\u304c\u3067\u304d\u306a\u304f\u306a\u308c\u3070\u3001FRB\u306f\u91d1\u5229\u3092\u5236\u5fa1\u3059\u308b\u529b\u3092\u5931\u3046\u3060\u308d\u3046\u300d\u3068\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u3002\u300c\u3064\u307e\u308a\u3001\u308f\u308c\u308f\u308c\u306e\u5341\u5206\u306a\u6e96\u5099\u9810\u91d1\u4f53\u5236\u306f\u3001\u91d1\u878d\u653f\u7b56\u306e\u5b9f\u65bd\u304a\u3088\u3073\u7d4c\u6e08\u30fb\u91d1\u878d\u306e\u5b89\u5b9a\u3092\u652f\u3048\u308b\u4e0a\u3067\u6975\u3081\u3066\u52b9\u679c\u7684\u306a\u3053\u3068\u304c\u8a3c\u660e\u3055\u308c\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3060\u300d\u3068\u8a9e\u3063\u305f\u3002<\/p>\n

\u653f\u7b56\u898b\u901a\u3057<\/p>\n

\u3000\u3000\u7d4c\u6e08\u60c5\u52e2\u306b\u3064\u3044\u3066\u306f\u30019\u6708\u306eFOMC\u4f1a\u5408\u4ee5\u964d\u3001\u30a4\u30f3\u30d5\u30ec\u3068\u96c7\u7528\u306e\u898b\u901a\u3057\u306b\u307b\u3068\u3093\u3069\u5909\u5316\u306f\u898b\u3089\u308c\u306a\u3044\u3068\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f\u6307\u6458\u3002\u52b4\u50cd\u5e02\u5834\u3067\u5f31\u3055\u306e\u5146\u5019\u304c\u5f37\u307e\u3063\u3066\u3044\u308b\u3068\u306e\u8a8d\u8b58\u3092\u5f15\u304d\u7d9a\u304d\u793a\u3057\u305f\u3002<\/p>\n

\u3000\u3000\u8b1b\u6f14\u3067\u30d1\u30a6\u30a8\u30eb\u6c0f\u306f\u3001\u300c\u96c7\u7528\u306b\u5bfe\u3059\u308b\u4e0b\u632f\u308c\u30ea\u30b9\u30af\u306f\u9ad8\u307e\u3063\u3066\u3044\u308b\u3088\u3046\u3060\u300d\u3068\u6539\u3081\u3066\u8ff0\u3079\u305f\u3002<\/p>\n

\u3000\u3000\u9023\u90a6\u653f\u5e9c\u6a5f\u95a2\u306e\u4e00\u90e8\u9589\u9396\u306b\u3088\u308a\u7d4c\u6e08\u7d71\u8a08\u306e\u516c\u8868\u304c\u505c\u6b62\u3057\u3066\u3044\u308b\u3082\u306e\u306e\u3001\u300c\u5229\u7528\u53ef\u80fd\u306a\u30c7\u30fc\u30bf\u306b\u3088\u308c\u3070\u3001\u30ec\u30a4\u30aa\u30d5\u3082\u63a1\u7528\u3082\u4f4e\u6c34\u6e96\u306b\u3068\u3069\u307e\u308a\u3001\u4ed5\u4e8b\u306e\u898b\u3064\u3051\u3084\u3059\u3055\u306b\u5bfe\u3059\u308b\u5bb6\u8a08\u306e\u8a8d\u8b58\u3068\u3001\u4eba\u6750\u78ba\u4fdd\u306e\u96e3\u3057\u3055\u306b\u5bfe\u3059\u308b\u4f01\u696d\u306e\u8a8d\u8b58\u306f\u5171\u306b\u4f4e\u4e0b\u50be\u5411\u306b\u3042\u308b\u300d\u3068\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f\u6307\u6458\u3057\u305f\u3002<\/p>\n

\u3000\u3000\u8b1b\u6f14\u5f8c\u306e\u8cea\u7591\u5fdc\u7b54\u3067\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f\u3001\u653f\u5e9c\u9589\u9396\u306e\u5f71\u97ff\u3092\u88dc\u3046\u305f\u3081\u3001FRB\u306f\u3055\u307e\u3056\u307e\u306a\u6c11\u9593\u30c7\u30fc\u30bf\u3092\u6d3b\u7528\u3057\u3066\u72b6\u6cc1\u628a\u63e1\u306b\u52aa\u3081\u3066\u3044\u308b\u3068\u8aac\u660e\u3002\u305f\u3060\u516c\u5f0f\u306a\u30c7\u30fc\u30bf\u304c\u5165\u624b\u3067\u304d\u306a\u3044\u72b6\u614b\u304c\u7d9a\u3051\u3070\u3001\u3088\u308a\u6df1\u523b\u306a\u554f\u984c\u306b\u306a\u308a\u304b\u306d\u306a\u3044\u3068\u8ff0\u3079\u305f\u3002<\/p>\n

\u3000\u3000\u300c\u308f\u308c\u308f\u308c\u306e\u7acb\u5834\u304b\u3089\u3059\u308c\u3070\u3001\u3053\u306e\u72b6\u6cc1\u304c\u9577\u5f15\u3051\u3070\u3001\u7279\u306b10\u6708\u5206\u306b\u95a2\u3057\u3066\u30c7\u30fc\u30bf\u3092\u6b20\u304f\u3053\u3068\u306b\u306a\u308b\u300d\u3068\u3057\u3001\u300c\u5bfe\u5fdc\u304c\u4e00\u6bb5\u3068\u56f0\u96e3\u306b\u306a\u308b\u53ef\u80fd\u6027\u3082\u3042\u308b\u300d\u3068\u8a9e\u3063\u305f\u3002<\/p>\n

\u539f\u984c\uff1aPowell Says Fed May Stop Shrinking Balance Sheet in Months Ahead\uff08\u629c\u7c8b\uff09<\/p>\n

(\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306e\u767a\u8a00\u3092\u3055\u3089\u306b\u8ffd\u52a0\u3057\u307e\u3059)<\/p>\n","protected":false},"excerpt":{"rendered":"

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