\ud074\ub9ac\ube14\ub79c\ub4dc \uc5f0\ubc29\uc900\ube44\uc740\ud589(\uc5f0\uc740) \ucd1d\uc7ac\uc778 \ubca0\uc2a4 \ud574\ub9e5\uc740 24\uc77c \uacf5\uc601 \ub77c\ub514\uc624 \uc778\ud130\ubdf0\uc5d0\uc11c \uacbd\uc81c \uc804\ub9dd\uc5d0 \ubd88\ud655\uc2e4\uc131\uc774 \ub9e4\uc6b0 \ud06c\ub2e4\uace0 \ub9d0\ud588\ub2e4. \uadf8\ub294 \uc774\ub7f0 \ubd88\ud655\uc2e4\uc131\uc774 \uc5f0\uc900(Fed)\uc758 \ud1b5\ud654\uc815\ucc45 \uae30\uc870\ub97c \u2018\uc911\ub9bd\uc801\uc778 \uc218\uc900\u2019\uc5d0 \uac00\uae5d\uac8c \ub450\ub294 \uadfc\uac70\uac00 \ub41c\ub2e4\uace0 \uc124\uba85\ud588\ub2e4. (\uc911\ub9bd\uc801 \ud1b5\ud654\uc815\ucc45=\uacbd\uae30\ub97c \uacfc\ub3c4\ud558\uac8c \ubd80\uc591\ud558\uc9c0\ub3c4, \uacfc\ub3c4\ud558\uac8c \uc5b5\uc81c\ud558\uc9c0\ub3c4 \uc54a\ub294 \uae08\ub9ac \uc218\uc900)<\/p>\n
\uadf8\ub294 \ud718\ubc1c\uc720 \uac00\uaca9 \uc0c1\uc2b9\uc744 \ub9ce\uc740 \uc0ac\ub78c\uc774 \uccb4\uac10\ud558\uace0 \uc788\uc73c\uba70, \uc55e\uc73c\ub85c \ubb3c\uac00\ub97c \ub354 \ub04c\uc5b4\uc62c\ub9b4 \uc555\ub825\uc774 \ucee4\uc9c8 \uc218 \uc788\ub2e4\uace0 \uc6b0\ub824\ud588\ub2e4. \ud544\uc218\uc7ac \uac00\uaca9 \uc0c1\uc2b9\uc774 \uac00\uacc4\uc758 \uc9c0\ucd9c \uc5ec\ub825\uc744 \uc904\uc774\uace0, \ub354 \ub9ce\uc740 \uc18c\ube44\uc790\uac00 \u2018\ubb34\uc5c7\uc744 \ud3ec\uae30\ud560\uc9c0\u2019 \uc120\ud0dd\ud558\ub3c4\ub85d \ub0b4\ubab0\uace0 \uc788\ub2e4\uace0 \ub367\ubd99\uc600\ub2e4.<\/p>\n
\ud574\ub9e5 \ucd1d\uc7ac\ub294 \uc774\ub780 \uad00\ub828 \uc804\uc7c1\uc774 \uc5f0\uc900\uc758 \u2018\uc774\uc911 \ucc45\ubb34(dual mandate)\u2019 \uc591\ucabd \ubaa8\ub450\uc5d0 \uc601\ud5a5\uc744 \uc904 \uc218 \uc788\uace0, \ubb3c\uac00 \uc0c1\uc2b9 \uc555\ub825\uc774 \ub354 \uc624\ub798 \uc9c0\uc18d\ub418\uac8c \ub9cc\ub4e4 \uc218 \uc788\ub2e4\uace0 \ub9d0\ud588\ub2e4. (\uc774\uc911 \ucc45\ubb34=\ubb3c\uac00 \uc548\uc815\uacfc \uace0\uc6a9 \ucd5c\ub300\ud654) \uadf8\ub294 \uc804\uc7c1\uc774 \uc5bc\ub9c8\ub098 \uc624\ub798 \uc774\uc5b4\uc9c0\ub294\uc9c0 \uc9c0\ucf1c\ubcf4\uace0 \uc788\ub2e4\uba70, \ub192\uc740 \ubb3c\uac00\uac00 \uacb0\uad6d \uc218\uc694(\uc18c\ube44\u00b7\ud22c\uc790)\ub97c \uc57d\ud654\uc2dc\ud0ac \uc218 \uc788\ub2e4\uace0 \uc9da\uc5c8\ub2e4.<\/p>\n
\uadf8\ub294 \uc5f0\uc900 \ud68c\uc758\uc5d0\uc11c \uac89\uc73c\ub85c \ubcf4\uc774\ub294 \uac83\ubcf4\ub2e4 \uc758\uacac \uc77c\uce58\uac00 \ub354 \uc788\uc5c8\ub2e4\uace0 \ub9d0\ud588\ub2e4. \uae30\uc900\uae08\ub9ac\ub294 \uaf64 \uc624\ub79c \uae30\uac04 \ub3d9\uacb0\ub420 \uc218 \uc788\uc9c0\ub9cc, \uae30\uac04\uc744 \uc22b\uc790\ub85c \ubabb \ubc15\uc544 \ub9d0\ud560 \uc218\ub294 \uc5c6\ub2e4\uace0 \ud588\ub2e4. (\uae30\uc900\uae08\ub9ac \ub3d9\uacb0=\uae08\ub9ac \uc218\uc900\uc744 \uc62c\ub9ac\uac70\ub098 \ub0b4\ub9ac\uc9c0 \uc54a\uace0 \uc720\uc9c0)<\/p>\n
\uadf8\ub294 \uc2e4\uc5c5\ub960\uc774 \ub0ae\uace0 \uc548\uc815\uc801\uc774\uba70, \u201c\ucc44\uc6a9\ub3c4 \uc801\uace0 \ud574\uace0\ub3c4 \uc801\uc740\u201d \ub178\ub3d9\uc2dc\uc7a5\uc774\ub77c\uace0 \ud3c9\uac00\ud588\ub2e4. (\ub178\ub3d9\uc2dc\uc7a5=\uc77c\uc790\ub9ac\uc758 \uad6c\uc778\u00b7\uad6c\uc9c1 \uc0c1\ud669) \ub610 \uc5f0\uc900\uc740 \uc218\ub144\uac04 \ubb3c\uac00 \ubaa9\ud45c\uce58\ub97c \ub2ec\uc131\ud558\uc9c0 \ubabb\ud588\uc9c0\ub9cc, \uc7a5\uae30 \ubb3c\uac00 \uae30\ub300\ub294 \ube44\uad50\uc801 \uc548\uc815\ub3fc \uc788\ub2e4\uace0 \ud588\ub2e4. (\ubb3c\uac00 \uae30\ub300=\ud5a5\ud6c4 \ubb3c\uac00\uac00 \uc5b4\ub5bb\uac8c \uc6c0\uc9c1\uc77c\uc9c0\uc5d0 \ub300\ud55c \uac00\uacc4\u00b7\uae30\uc5c5\u00b7\uc2dc\uc7a5\uc758 \uc608\uc0c1)<\/p>\n
\uadf8\ub294 \ud544\uc694 \uc774\uc0c1\uc73c\ub85c \uae08\ub9ac\ub97c \uc778\ud558\ud558\uba74 \ubb3c\uac00\uac00 \ub2e4\uc2dc \uc624\ub97c \uc218 \uc788\ub2e4\uace0 \uacbd\uace0\ud588\ub2e4. \ub610\ud55c \uc804\ub9dd\uc774 \ubd88\ud655\uc2e4\ud558\uba74 \uc815\ucc45\ub3c4 \uc2e0\uc911\ud560 \uc218\ubc16\uc5d0 \uc5c6\ub2e4\uba70, \uc5f0\uc900\uc740 \uac00\ub2a5\ud55c \ud55c \uc815\uce58\uc640 \uac70\ub9ac\ub97c \ub450\uaca0\ub2e4\uace0 \uac15\uc870\ud588\ub2e4.<\/p>\n
\ubd88\ud655\uc2e4\uc131\uc774 \ud070 \ub9cc\ud07c \uc5f0\uc900\uc774 \uc0c1\ub2f9 \uae30\uac04 \uae08\ub9ac\ub97c \ub3d9\uacb0\ud560 \uac83\uc774\ub77c\ub294 \uc804\ub9dd\uc774 \uc6b0\uc138\ud558\ub2e4. \ud604\uc7ac \uc5f0\ubc29\uae30\uae08\uae08\ub9ac \ubaa9\ud45c \ubc94\uc704 5.25%~5.50%\uac00 \uc720\uc9c0\ub420 \uac00\ub2a5\uc131\uc774 \ud06c\ub2e4. \ud2b9\ud788 2026\ub144 4\uc6d4 \ubb3c\uac00\ubcf4\uace0\uc11c\uc5d0\uc11c \uc18c\ube44\uc790\ubb3c\uac00\uc9c0\uc218(CPI)\uac00 3.6%\ub85c \uc5ec\uc804\ud788 \ub192\uc740 \uc218\uc900\uc744 \ubcf4\uc600\ub2e4. (CPI=\uac00\uacc4\uac00 \uc790\uc8fc \uc0ac\ub294 \uc0c1\ud488\u00b7\uc11c\ube44\uc2a4 \uac00\uaca9\uc744 \ubb36\uc5b4 \ub9cc\ub4e0 \ub300\ud45c \ubb3c\uac00 \uc9c0\ud45c) \uc774\ub7f0 \u2018\ub048\uc801\ud55c \ubb3c\uac00(\uc798 \ub0b4\ub824\uc624\uc9c0 \uc54a\ub294 \ubb3c\uac00)\u2019\ub294 \ub2e8\uae30\uac04 \ub0b4 \uae08\ub9ac \uc778\ud558 \ub17c\uc758\ub97c \uc5b4\ub835\uac8c \ud55c\ub2e4.<\/p>\n
\uc815\ucc45\uc774 \uc27d\uac8c \uc6c0\uc9c1\uc774\uc9c0 \ubabb\ud558\ub294 \uc0c1\ud669(\uc815\ucc45 \uc815\uccb4)\uacfc \uc774\ub780 \uc804\uc7c1\uc774 \uacb9\uce58\uba74\uc11c \uc2dc\uc7a5 \uac00\uaca9 \uc6c0\uc9c1\uc784\uc774 \ucee4\uc9c0\uace0 \uc788\ub2e4. \uc2dc\uc7a5\uc774 \uc608\uc0c1\ud558\ub294 \ubcc0\ub3d9\uc131\uc744 \ubcf4\uc5ec\uc8fc\ub294 \ub300\ud45c \uc9c0\ud45c\uc778 VIX\ub294 22 \uc548\ud30e\uc5d0\uc11c \uc6c0\uc9c1\uc774\uba70 \uc5ed\uc0ac\uc801 \ud3c9\uade0\uc744 \ud06c\uac8c \uc6c3\ub3cc\uace0 \uc788\ub2e4. (VIX=\ubbf8\uad6d S&P500 \uc635\uc158 \uac00\uaca9\uc73c\ub85c \uacc4\uc0b0\ud558\ub294 \u2018\uacf5\ud3ec\uc9c0\uc218\u2019, \ud5a5\ud6c4 \ubcc0\ub3d9\uc131 \uae30\ub300\ub97c \uc218\uce58\ud654) \uc774\uc5d0 \ub530\ub77c \ud22c\uc790\uc790\ub294 \ub69c\ub837\ud55c \ubc29\ud5a5\uc131\uc5d0 \ubca0\ud305\ud558\uae30\ubcf4\ub2e4, \uac00\uaca9 \ub4f1\ub77d\uc5d0\uc11c \uc218\uc775\uc744 \ub178\ub9ac\ub294 \uc804\ub7b5\uc744 \uace0\ub824\ud560 \uc218 \uc788\ub2e4\ub294 \ubd84\uc11d\uc774 \ub098\uc628\ub2e4.<\/p>\n
\uc774\ub780 \uc804\uc7c1\uc740 \ud2b9\ud788 \uc5d0\ub108\uc9c0 \uc2dc\uc7a5\uc5d0\uc11c \ubb3c\uac00 \uc555\ub825\uc744 \ud0a4\uc6b0\ub294 \ud575\uc2ec \uc694\uc778\uc73c\ub85c \uc9c0\ubaa9\ub41c\ub2e4. \ucd5c\uadfc \uc2dc\uc7a5 \uc790\ub8cc\uc5d0 \ub530\ub974\uba74 \ube0c\ub80c\ud2b8\uc720 \uac00\uaca9\uc740 \ubc30\ub7f4\ub2f9 95\ub2ec\ub7ec\ub97c \ub118\uc5b4\uc11c\uba70 \uae09\ub4f1\ud588\ub2e4. (\ube0c\ub80c\ud2b8\uc720=\uad6d\uc81c \uc720\uac00\uc758 \uae30\uc900\uc774 \ub418\ub294 \ub300\ud45c \uc6d0\uc720) \uc774\ub294 \ubb3c\uac00\uc640 \uc18c\ube44\uc5d0 \uc9c1\uc811 \uc601\ud5a5\uc744 \uc8fc\uae30 \ub54c\ubb38\uc5d0 \uc5f0\uc900\uc774 \uc8fc\uc2dc\ud560 \ubcc0\uc218\ub85c \uaf3d\ud78c\ub2e4.<\/p>\n
\uc2e4\uc5c5\ub960\uc740 4.1%\ub85c \ub0ae\uc544 \uace0\uc6a9\uc740 \uac89\uc73c\ub85c \uc548\uc815\uc801\uc73c\ub85c \ubcf4\uc774\uc9c0\ub9cc, \uc774\uac83\uc774 \uc18c\ube44\uc2ec\ub9ac \uac1c\uc120\uc73c\ub85c \uc774\uc5b4\uc9c0\uc9c0\ub294 \uc54a\uace0 \uc788\ub2e4. (\uc18c\ube44\uc2ec\ub9ac=\uac00\uacc4\uac00 \uacbd\uae30\uc640 \uc18c\ub4dd \uc804\ub9dd\uc744 \uc5b4\ub5bb\uac8c \ub290\ub07c\ub294\uc9c0) \ud544\uc218 \uc9c0\ucd9c \uac00\uaca9 \uc0c1\uc2b9\uc774 \uac00\uacc4 \uc608\uc0b0\uc744 \uc555\ubc15\ud558\uba74\uc11c \uc120\ud0dd\uc801 \uc9c0\ucd9c(\uc5ec\uac00\u00b7\uc678\uc2dd \ub4f1)\uc774 \uc904\uc5b4\ub4dc\ub294 \ubaa8\uc2b5\uc774\ub2e4. \uc774 \ub54c\ubb38\uc5d0 \uac15\ud55c \uace0\uc6a9\uc740 \uae08\ub9ac \uc778\ud558\uc5d0 \uc81c\ub3d9\uc744 \uac78\uc9c0\ub9cc, \uc18c\ube44 \ubd80\ub2f4\uc740 \uae08\ub9ac \uc778\uc0c1\uc744 \uc5b4\ub835\uac8c \ud558\ub294 \u2018\uc904\ud0c0\uae30\u2019 \uc0c1\ud669\uc774 \ub418\uace0 \uc788\ub2e4.<\/p>\n
2025\ub144 \ub0b4\ub0b4 \uc2dc\uc7a5\uc774 \uae08\ub9ac \uc778\ud558\ub97c \ubc18\ubcf5\uc801\uc73c\ub85c \uc608\uc0c1\ud588\uc9c0\ub9cc \uc2e4\uc81c\ub85c\ub294 \uc774\ub904\uc9c0\uc9c0 \uc54a\uc558\ub358 \uacbd\ud5d8\ub3c4 \ub2e4\uc2dc \uac70\ub860\ub41c\ub2e4. \uc774\ub7f0 \uc804\ub840\ub294 \uc5f0\uc900\uc774 \uc11c\ub450\ub974\uc9c0 \uc54a\uace0, \uc9c0\ud45c\ub97c \ud655\uc778\ud558\uba74\uc11c \uacb0\uc815\ud558\ub294 \u2018\ub370\uc774\ud130 \uc911\uc2ec\u2019 \ud0dc\ub3c4\ub97c \uc720\uc9c0\ud560 \uac83\uc774\ub77c\ub294 \uc804\ub9dd\uc744 \ub4b7\ubc1b\uce68\ud55c\ub2e4. (\ub370\uc774\ud130 \uc911\uc2ec=\ubb3c\uac00\u00b7\uace0\uc6a9 \ub4f1 \uc9c0\ud45c \ud750\ub984\uc744 \ubcf4\uace0 \uc815\ucc45\uc744 \uc870\uc815)<\/p>\n
\ub530\ub77c\uc11c \ud30c\uc0dd\uc0c1\ud488 \ud3ec\uc9c0\uc158\uc740 \uae08\ub9ac\uac00 \uc77c\uc815 \ubc94\uc704\uc5d0\uc11c \uc6c0\uc9c1\uc774\ub294 \ud658\uacbd\uc744 \ubc18\uc601\ud558\ub418, \uc9c0\uc815\ud559 \ub274\uc2a4\ub85c \uac11\uc791\uc2a4\ub7f0 \uae09\ubcc0 \uac00\ub2a5\uc131\uc774 \ucee4\uc84c\ub2e4\ub294 \uc810\uc744 \uace0\ub824\ud574\uc57c \ud55c\ub2e4. (\ud30c\uc0dd\uc0c1\ud488=\uc8fc\uc2dd\u00b7\uae08\ub9ac\u00b7\ud658\uc728 \ub4f1 \uae30\ucd08\uc790\uc0b0 \uac00\uaca9\uc5d0 \uc5f0\ub3d9\ub418\ub294 \uacc4\uc57d, \uc608: \uc120\ubb3c\u00b7\uc635\uc158) \ub2f4\ubcf4\ubd80 \uc775\uc77c\ubb3c \uae08\ub9ac(SOFR) \uc120\ubb3c \uc635\uc158\uc740 \uc2dc\uc7a5\uc774 \ucd5c\uc18c\ud55c \uc62c\ud574 \ud6c4\ubc18\uae4c\uc9c0\ub294 \uae08\ub9ac \ubcc0\ud654 \uac00\ub2a5\uc131\uc744 \ud06c\uac8c \ubc18\uc601\ud558\uc9c0 \uc54a\ub294 \uac83\uc73c\ub85c \ud574\uc11d\ub41c\ub2e4. (SOFR=\ubbf8\uad6d\uc5d0\uc11c \ub2f4\ubcf4 \uac70\ub798\ub97c \ubc14\ud0d5\uc73c\ub85c \uc0b0\ucd9c\ud558\ub294 \ud558\ub8e8\uc9dc\ub9ac \uae08\ub9ac, \ub300\ud45c\uc801 \uae30\uc900\uae08\ub9ac \ub300\uccb4 \uc9c0\ud45c \/ SOFR \uc120\ubb3c=\ud5a5\ud6c4 SOFR \uc218\uc900\uc744 \uac70\ub798\ud558\ub294 \uc0c1\ud488 \/ \uc635\uc158=\uc815\ud574\uc9c4 \uac00\uaca9\uc5d0 \uc0b4\u00b7\ud314 \uad8c\ub9ac) \uc774\ub7f0 \ud658\uacbd\uc5d0\uc11c\ub294 \uc635\uc158\uc744 \ud314\uc544 \ud504\ub9ac\ubbf8\uc5c4(\uc635\uc158 \uac00\uaca9)\uc744 \ubc1b\ub294 \uc804\ub7b5\uc774 \uac00\ub2a5\ud558\ub2e4\ub294 \uc2dc\uac01\ub3c4 \uc788\uc9c0\ub9cc, \uc804\uc7c1 \uaca9\ud654 \ub4f1\uc73c\ub85c \uae09\ubcc0\ud560 \ub54c \uc190\uc2e4\uc744 \uc904\uc774\ub294 \ud5e4\uc9c0(\uc704\ud5d8 \uc0c1\uc1c4 \uc218\ub2e8)\ub97c \ud568\uaed8 \ub46c\uc57c \ud55c\ub2e4. (\ud504\ub9ac\ubbf8\uc5c4=\uc635\uc158\uc744 \uc0ac\uace0\ud30c\ub294 \ub300\uac00\ub85c \uc8fc\uace0\ubc1b\ub294 \uac00\uaca9 \/ \ud5e4\uc9c0=\ubc18\ub300 \ud3ec\uc9c0\uc158 \ub4f1\uc73c\ub85c \uc704\ud5d8\uc744 \uc904\uc774\ub294 \ubc29\ubc95)<\/p>\n","protected":false},"excerpt":{"rendered":"
\u201c\uae08\ub9ac \uc778\ud558\ub294 \uc544\uc9c1?\u201d \ud574\ub9e5 \ud074\ub9ac\ube14\ub79c\ub4dc \uc5f0\uc740 \ucd1d\uc7ac\ub294 \ubd88\ud655\uc2e4\uc131 \ud655\ub300\uc640 \uc720\uac00\ubc1c \ubb3c\uac00 \uc555\ub825\uc5d0 \u2018\uc911\ub9bd\u2019 \uae30\uc870 \uc720\uc9c0 \uc2dc\uc0ac. \ub048\uc801\ud55c CPI\u00b7VIX \uc0c1\uc2b9 \uc18d \uae08\ub9ac \ub3d9\uacb0 \uc7a5\uae30\ud654 \uc804\ub9dd.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-46438","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/46438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/comments?post=46438"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/46438\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media?parent=46438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/categories?post=46438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/tags?post=46438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}