{"id":566,"date":"2022-10-30T22:58:02","date_gmt":"2022-10-31T01:58:02","guid":{"rendered":"https:\/\/noticias-gerais.online\/?p=566"},"modified":"2023-10-30T09:26:20","modified_gmt":"2023-10-30T12:26:20","slug":"o-presidente-do-jpmorgan-diz-que-uma-recessao-pode-ser-uma-taxa-a-pagar-para-vencer-a-inflacao","status":"publish","type":"post","link":"https:\/\/noticias-gerais.online\/sk\/o-presidente-do-jpmorgan-diz-que-uma-recessao-pode-ser-uma-taxa-a-pagar-para-vencer-a-inflacao\/","title":{"rendered":"Prezident JPMorgan hovor\u00ed, \u017ee recesia m\u00f4\u017ee by\u0165 cenou, ktor\u00fa treba zaplati\u0165 za prekonanie infl\u00e1cie."},"content":{"rendered":"<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Hoci sa oz\u00fdva zbor hlasov, ktor\u00e9 hovoria, \u017ee Feder\u00e1lny rezervn\u00fd syst\u00e9m by mohol spomali\u0165 alebo zastavi\u0165 zvy\u0161ovanie sadzieb, predseda JPMorgan Daniel Pinto nepatr\u00ed do tejto skupiny.<\/li>\n<li>\u201cMysl\u00edm si, \u017ee je mimoriadne d\u00f4le\u017eit\u00e9 obmedzi\u0165 vr\u00e1ten\u00fa infl\u00e1ciu,\u201d povedal Pinto v rozhovore pre CNBC. \u201cAk to sp\u00f4sob\u00ed mierne hlb\u0161iu recesiu na ur\u010dit\u00e9 obdobie, mali by sme plati\u0165 t\u00fato sadzbu.\u201d<\/li>\n<li>\u201cMysl\u00edm si, \u017ee sme e\u0161te nedosiahli dno trhu,\u201d zd\u00f4raznil a dodal, \u017ee o\u010dak\u00e1vania t\u00fdkaj\u00face sa tr\u017eieb firiem s\u00fa st\u00e1le ve\u013emi vysok\u00e9.<\/li>\n<li>Pinto, ktor\u00fd vedie najv\u00e4\u010d\u0161iu finan\u010dn\u00fa in\u0161tit\u00faciu na svete generuj\u00facu pr\u00edjmy, zn\u00e1mu ako kryptomeny, \u010do je druh mal\u00e9ho akt\u00edva, ktor\u00e9 je zatia\u013e \u201cakoby vyl\u00fa\u010den\u00e9\u201d.<\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: none;\">\u00a9 Poskytnut\u00e9 s pomocou CNBC. Daniel Pinto, spolupredseda a riadite\u013e pre pracovn\u00e9 miesta spolo\u010dnosti JPMorgan Chase &amp; Co., prehovoril po\u010das v\u00fdro\u010dn\u00e9ho stretnutia \u010dlenov In\u0161tit\u00fatu medzin\u00e1rodn\u00fdch financi\u00ed (IIF) vo Washingtone, D.C., 18. okt\u00f3bra 2019. Predseda predstavenstva JPMorgan Chase Daniel Pinto m\u00e1 \u017eiv\u00e9 spomienky na to, ak\u00fd je \u017eivot, ke\u010f krajina strat\u00ed kontrolu nad infl\u00e1ciou. Ako die\u0165a vyrastaj\u00face v Argent\u00edne 59-ro\u010dn\u00fd Pinto povedal, \u017ee infl\u00e1cia bude tak\u00e1 vysok\u00e1, \u017ee ceny potrav\u00edn a in\u00e9ho tovaru bud\u00fa ka\u017ed\u00fa hodinu prudko st\u00fapa\u0165. Povedal, \u017ee pracovn\u00edci by mohli pr\u00eds\u0165 o 201 TP3 bili\u00f3nov svojich z\u00e1robkov, ak by sa nepon\u00e1h\u013eali s prevodom svojich miezd na americk\u00e9 dol\u00e1re.\n<p>\u201cSupermarkety mali arm\u00e1dy Ameri\u010danov, ktor\u00e9 pou\u017e\u00edvali stroje na ozna\u010dovanie tovaru, niekedy 10 a\u017e 15-kr\u00e1t denne,\u201d poznamenal Pinto. \u201cNakoniec museli odstr\u00e1ni\u0165 v\u0161etky \u0161t\u00edtky a za\u010da\u0165 odznova na druh\u00fd de\u0148.\u201d<\/p>\n<p>Pintove sk\u00fasenosti ako veter\u00e1na z Wall Highway, ktor\u00fd riadi najv\u00e4\u010d\u0161iu investi\u010dn\u00fa finan\u010dn\u00fa in\u0161tit\u00faciu na svete prostredn\u00edctvom pr\u00edjmov, formuj\u00fa jeho n\u00e1zory v k\u013e\u00fa\u010dovom momente pre trhy a finan\u010dn\u00fd syst\u00e9m.<\/p>\n<p>Po uvo\u013enen\u00ed bili\u00f3nov dol\u00e1rov rodin\u00e1m a podnikom v roku 2020 Feder\u00e1lny rezervn\u00fd syst\u00e9m z\u00e1pas\u00ed s infl\u00e1ciou na \u0161tvordesiatro\u010dn\u00fdch maxim\u00e1ch zv\u00fd\u0161en\u00edm \u00farokov\u00fdch sadzieb a zn\u00ed\u017een\u00edm svojej kapacity na n\u00e1kup dlhov. Tieto opatrenia tento rok sp\u00f4sobili prudk\u00fd pokles akci\u00ed a dlhopisov a roz\u0161\u00edrili sa po celom svete, ke\u010f\u017ee rast\u00faci dol\u00e1r komplikuje boj jednotliv\u00fdch kraj\u00edn s infl\u00e1ciou.<\/p>\n<p>\u017divot s rozsiahlou infl\u00e1ciou bol \u201cve\u013emi, ve\u013emi znepokojuj\u00faci\u201d a predstavuje pozoruhodn\u00fa v\u00fdzvu pre rodiny s n\u00edzkymi pr\u00edjmami, povedal Pinto v novom rozhovore z \u00fastredia JPMorgan v New Yorku. Priemern\u00fd n\u00e1rast sadzieb v Argent\u00edne v rokoch 1975 a\u017e 1991 presiahol 3 001 libier TP3 ro\u010dne.<\/p>\n<p>Hoci sa \u010doraz viac \u013eud\u00ed zdr\u017eiava hlasov, ktor\u00e9 tvrdia, \u017ee Feder\u00e1lny rezervn\u00fd syst\u00e9m by mal napriek niektor\u00fdm n\u00e1znakom zmier\u0148ovania n\u00e1kladov postupne zvy\u0161ova\u0165 alebo zastavova\u0165 zvy\u0161ovanie cien, Pinto do tejto skupiny nepatr\u00ed.<\/p>\n<p>\u201cPreto nes\u00fahlas\u00edm, ke\u010f \u013eudia hovoria, \u017ee \u2018Fed je pr\u00edli\u0161 jastrab',\u201d poznamenal Pinto, ktor\u00fd sa tento rok stal jedin\u00fdm prezidentom a prev\u00e1dzkov\u00fdm riadite\u013eom JPMorgan, \u010d\u00edm si upevnil reput\u00e1ciu sk\u00fasen\u00e9ho z\u00e1stupcu a n\u00e1stupcu gener\u00e1lneho riadite\u013ea Jamieho Dimona. .<\/p>\n<p>\u201cMysl\u00edm si, \u017ee dosta\u0165 infl\u00e1ciu sp\u00e4\u0165 do \u0161katu\u013eky je nesmierne d\u00f4le\u017eit\u00e9,\u201d povedal. \u201cAk to sp\u00f4sob\u00ed mierne hlb\u0161iu recesiu na ur\u010dit\u00e9 obdobie, je to sadzba, ktor\u00fa mus\u00edme plati\u0165.\u201d<\/p>\n<p>Dost\u00e1vame sa do bodu zlomu, kedy budeme ma\u0165 jemnej\u0161ie a m\u00e4k\u0161ie fi\u0161k\u00e1lne krytie, hovor\u00ed Paul McCulley.<\/p>\n<p>Fed nem\u00f4\u017ee dovoli\u0165, aby sa infl\u00e1cia v reakcii na vl\u00e1du zakorenila v ekonomickom syst\u00e9me. Pred\u010dasn\u00fd n\u00e1vrat k vhodnej\u0161ej menovej politike riskuje opakovanie ch\u00fdb zo 70. a 80. rokov, povedal.<\/p>\n<p>Pr\u00e1ve preto si mysl\u00ed, \u017ee Fed sa s v\u00e4\u010d\u0161ou pravdepodobnos\u0165ou m\u00fdli, ak bude vo svojich obvineniach agres\u00edvny. Feder\u00e1lne v\u00fddavky v dol\u00e1roch pravdepodobne dosiahnu pribli\u017ene 5%, \u010do spolu s rast\u00facou nezamestnanos\u0165ou nepochybne obmedz\u00ed infl\u00e1ciu, poznamenal Pinto. Kurz sa v s\u00fa\u010dasnosti pohybuje v rozmedz\u00ed od 3% do 3,25%.<\/p>\n<p>Trhy e\u0161te nedosiahli dno. Ako ned\u00e1vno poznamenalo viacero \u010fal\u0161\u00edch mana\u017e\u00e9rov vr\u00e1tane Dimona a gener\u00e1lneho riadite\u013ea Goldman Sachs Davida Solomona, USA \u010delia recesii v d\u00f4sledku dilemy Fedu, poznamenal Pinto. Lep\u0161ou ot\u00e1zkou je, ak\u00e9 extr\u00e9mne m\u00f4\u017ee by\u0165 spomalenie. To sa samozrejme odr\u00e1\u017ea na trhoch, ktor\u00e9 Pinto denne sleduje.<\/p>\n<p>\u201cM\u00e1me do \u010dinenia s trhom, ktor\u00fd zoh\u013ead\u0148uje pravdepodobnos\u0165 recesie a jej h\u013abku,\u201d uviedol Pinto.<\/p>\n<p>Tohtoro\u010dn\u00e1 ekonomick\u00e1 situ\u00e1cia sa v hist\u00f3rii nepodob\u00e1 \u017eiadnej inej; okrem rast\u00faceho zv\u00fd\u0161enia dan\u00ed z tovarov a slu\u017eieb boli tr\u017eby spolo\u010dnost\u00ed pomerne stabiln\u00e9, \u010do obchodn\u00edkom s\u0165a\u017euje h\u013eadanie zn\u00e1mok spomalenia.<\/p>\n<p>Odhady zisku v\u0161ak pod\u013ea Pinta neklesli nato\u013eko, aby replikovali to, \u010do pr\u00edde, a to m\u00f4\u017ee nazna\u010dova\u0165, \u017ee trh m\u00e1 \u010fal\u0161\u00ed pokles. Index S&amp;P 500 v piatok klesol o 21% v tomto roku.<\/p>\n<p>\u201cMysl\u00edm si, \u017ee sme e\u0161te nedosiahli dno trhu,\u201d povedal Pinto. \u201cAk vezmeme do \u00favahy zisky spolo\u010dnosti v bud\u00facom roku, o\u010dak\u00e1vania m\u00f4\u017eu by\u0165 tie\u017e pr\u00edli\u0161 vysok\u00e9; multiplik\u00e1tory na niektor\u00fdch akciov\u00fdch trhoch spolu s indexom S&amp;P s\u00fa pravdepodobne trochu prehnan\u00e9.\u201d<\/p>\n<p>\u2018Napriek udalosti \u201cobrovskej \u010diernej labute\u201d a napriek zv\u00fd\u0161enej volatilite, ktor\u00fa o\u010dak\u00e1va, \u017ee si zachov\u00e1, Pinto uviedol, \u017ee trhy funguj\u00fa \u201clep\u0161ie, ako som o\u010dak\u00e1val\u201d. S v\u00fdnimkou prvotriedneho poklesu britsk\u00fdch \u0161t\u00e1tnych dlhopisov, zn\u00e1mych ako \u201egilts\u201c, ktor\u00fd viedol k rezign\u00e1cii hlavn\u00e9ho ministra krajiny minul\u00fd t\u00fd\u017ede\u0148, boli trhy v poriadku, povedal.<\/p>\n<p>Toto by sa mohlo zmeni\u0165, ak by boj na Ukrajine nabral nebezpe\u010dn\u00fd nov\u00fd smer alebo ak by sa nap\u00e4tie s \u010c\u00ednou kv\u00f4li Taiwanu prenieslo na svetov\u00fa sc\u00e9nu, \u010do by okrem in\u00fdch znalostn\u00fdch pasc\u00ed naru\u0161ilo pokrok v dod\u00e1vate\u013esk\u00fdch re\u0165azcoch. Trhy sa v d\u00f4sledku kr\u00edzov\u00fdch reforiem z roku 2008, ktor\u00e9 prin\u00fatili banky dr\u017ea\u0165 si viac obchodne prepojen\u00e9ho kapit\u00e1lu, stali v nieko\u013ek\u00fdch oh\u013eadoch e\u0161te krehkej\u0161\u00edmi.<\/p>\n<p>\u201cGeopolitika je ve\u013ek\u00e1 \u010dierna labu\u0165 na obzore, ktor\u00e1 by, optimisticky, nefungovala,\u201d vyhl\u00e1sil Pinto.<\/p>\n<p>Aj po tom, \u010do sa hlavn\u00e9 banky dohodn\u00fa na infl\u00e1cii, je pravdepodobn\u00e9, \u017ee miera aktivity by mohla by\u0165 sk\u00f4r \u010di nesk\u00f4r vy\u0161\u0161ia ako v poslednom desa\u0165ro\u010d\u00ed a pol, uviedol. N\u00edzke a dokonca z\u00e1porn\u00e9 miery boli v\u0161ade charakteristick\u00fdm znakom uplynul\u00e9ho obdobia.<\/p>\n<p>Tento re\u017eim n\u00edzkych \u00farokov\u00fdch sadzieb trestal sporite\u013eov a zv\u00fdhod\u0148oval dl\u017en\u00edkov a rizikovej\u0161ie agent\u00fary, ktor\u00e9 m\u00f4\u017eu na\u010falej stimulova\u0165 trhy s dlhmi. Okrem toho viedol k prudk\u00e9mu n\u00e1rastu invest\u00edci\u00ed do s\u00fakromn\u00fdch spolo\u010dnost\u00ed vr\u00e1tane fintech spolo\u010dnost\u00ed, ktor\u00e9 prevzali JPMorgan a jej pridru\u017een\u00e9 spolo\u010dnosti, a prevalcoval akcie technologick\u00fdch spolo\u010dnost\u00ed, ke\u010f\u017ee investori za tento n\u00e1rast doplatili.<\/p>\n<p>\u201cSkuto\u010dn\u00e9 ocenenia by mali by\u0165 v nasleduj\u00facich 20 rokoch vy\u0161\u0161ie ako v posledn\u00fdch dvadsiatich rokoch,\u201d poznamenal Pinto. \u201cNi\u010d prehnan\u00e9, ale vy\u0161\u0161ie, a to ovplyv\u0148uje ve\u013ea vec\u00ed, ako aj ocenenia expanduj\u00facich spolo\u010dnost\u00ed.\u201d<\/p>\n<p>Kryptomena: \u2018Nevhodn\u00e9 m\u00e9dium\u201c Obdobie po fi\u0161k\u00e1lnej kr\u00edze dalo impulz aj nov\u00fdm typom digit\u00e1lnych fondov: kryptomen\u00e1m spolu s bitcoinom. Zatia\u013e \u010do JPMorgan a jeho konkurenti spolu s Morgan Stanley a \u010fal\u0161\u00edmi umo\u017enili klientom spravuj\u00facim majetok z\u00edska\u0165 publicitu pre kryptomenu, pod\u013ea Pinta sa v s\u00fa\u010dasnosti zd\u00e1, \u017ee ich in\u0161titucion\u00e1lne prijatie rastie len m\u00e1lo.<\/p>\n<p>\u201cRealita je tak\u00e1, \u017ee s\u00fa\u010dasn\u00e1 forma kryptomeny sa vyvinula do malej triedy akt\u00edv, v celkovom kontexte je naozaj irelevantn\u00e1,\u201d povedal. \u201cTechnol\u00f3gia, n\u00e1pady, \u010doko\u013evek, sa tam v\u0161ak nepochybne objav\u00ed; len to moment\u00e1lne nie je v existuj\u00facej podobe.\u201d<\/p>\n<p>Pokia\u013e ide o \u0161ir\u0161\u00ed ekonomick\u00fd syst\u00e9m, existuj\u00fa vysvetlenia pre optimizmus uprostred temnoty.<\/p>\n<p>Dom\u00e1cnosti a korpor\u00e1cie maj\u00fa siln\u00e9 z\u00e1chrann\u00e9 siete, ktor\u00e9 st\u00e1le dok\u00e1\u017eu zmierni\u0165 boles\u0165 z recesie. V regulovanom bankovom syst\u00e9me sa skr\u00fdva ove\u013ea menej p\u00e1kov\u00e9ho efektu ako v roku 2008 a lep\u0161ie \u0161pecifik\u00e1cie hypot\u00e9k m\u00f4\u017eu tentoraz vies\u0165 k ove\u013ea menej trestn\u00e9mu cyklu zlyhania spl\u00e1tok.<\/p>\n<p>\u201cProbl\u00e9my, ktor\u00e9 v minulosti sp\u00f4sobovali probl\u00e9my, s\u00fa teraz na lep\u0161om mieste,\u201d poznamenal Pinto. \u201cNapriek tomu d\u00fafate, \u017ee sa neobjav\u00ed ni\u010d nov\u00e9.\u201d<\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>embora haja um coro de vozes que dizem que o Federal Reserve ainda pode desacelerar ou interromper seus aumentos de taxas, o presidente do JPMorgan, Daniel Pinto, n\u00e3o est\u00e1 nesse campo. &#8220;Acho que colocar a infla\u00e7\u00e3o devolvida em uma caixa \u00e9 extremamente essencial&#8221;, informou Pinto \u00e0 CNBC em entrevista.\u00a0&#8220;Se causar uma recess\u00e3o um pouco mais [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-566","post","type-post","status-publish","format-standard","category-economia"],"_links":{"self":[{"href":"https:\/\/noticias-gerais.online\/sk\/wp-json\/wp\/v2\/posts\/566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noticias-gerais.online\/sk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noticias-gerais.online\/sk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noticias-gerais.online\/sk\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/noticias-gerais.online\/sk\/wp-json\/wp\/v2\/comments?post=566"}],"version-history":[{"count":0,"href":"https:\/\/noticias-gerais.online\/sk\/wp-json\/wp\/v2\/posts\/566\/revisions"}],"wp:attachment":[{"href":"https:\/\/noticias-gerais.online\/sk\/wp-json\/wp\/v2\/media?parent=566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noticias-gerais.online\/sk\/wp-json\/wp\/v2\/categories?post=566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noticias-gerais.online\/sk\/wp-json\/wp\/v2\/tags?post=566"}],"curies":[{"name":"pracovn\u00fd list","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}