{"id":32175,"date":"2026-10-08T11:04:49","date_gmt":"2026-10-08T02:04:49","guid":{"rendered":"https:\/\/official.gfs.tokyo\/blog\/?p=32175"},"modified":"2026-10-08T11:04:49","modified_gmt":"2026-10-08T02:04:49","slug":"ue-concerns-over-a-resurgence-of-interest-rate-hikes-by-the-us-federal-reserve","status":"publish","type":"post","link":"https:\/\/official.gfs.tokyo\/blog\/ue-concerns-over-a-resurgence-of-interest-rate-hikes-by-the-us-federal-reserve","title":{"rendered":"\u30102026\u5e74\u6700\u65b0\u3011\u30a2\u30e1\u30ea\u30abFRB\u306e\u5229\u4e0a\u3052\u518d\u71c3\u61f8\u5ff5\u3068\u682a\u9ad8\u306e\u8b0e\u3092\u89e3\u8aac\uff01\u904e\u53bb\u306e\u6b74\u53f2\u7684\u30d1\u30bf\u30fc\u30f3\u304b\u3089\u8aad\u307f\u89e3\u304f\u7c73\u56fd\u7d4c\u6e08\u306e\u884c\u65b9"},"content":{"rendered":"<h2 data-path-to-node=\"0\">\u30102026\u5e74\u6700\u65b0\u3011\u30a2\u30e1\u30ea\u30abFRB\u306e\u5229\u4e0a\u3052\u518d\u71c3\u61f8\u5ff5\u3068\u682a\u9ad8\u306e\u8b0e\u3092\u89e3\u8aac\uff01\u904e\u53bb\u306e\u6b74\u53f2\u7684\u30d1\u30bf\u30fc\u30f3\u304b\u3089\u8aad\u307f\u89e3\u304f\u7c73\u56fd\u7d4c\u6e08\u306e\u884c\u65b9<\/h2>\n<p data-path-to-node=\"0\">FRB\uff08\u7c73\u9023\u90a6\u6e96\u5099\u7406\u4e8b\u4f1a\uff09\u306e\u91d1\u878d\u653f\u7b56\u3001\u9ad8\u30a4\u30f3\u30d5\u30ec\u3068\u5229\u4e0a\u3052\u30ea\u30b9\u30af\u3001\u305d\u308c\u306b\u5bfe\u3059\u308b\u682a\u5f0f\u5e02\u5834\u306e\u60f3\u5b9a\u5916\u306e\u5805\u8abf\u3055\u3001\u6b74\u53f2\u7684\u306a\u5229\u4e0a\u3052\u5c40\u9762\u306b\u304a\u3051\u308b\u5e02\u5834\u306e\u30d1\u30bf\u30fc\u30f3\u3001\u305d\u3057\u3066\u8db3\u5143\u306e\u7c73\u56fd\u7d4c\u6e08\u306b\u304a\u3051\u308b\u30ea\u30bb\u30c3\u30b7\u30e7\u30f3\uff08\u666f\u6c17\u5f8c\u9000\uff09\u30ea\u30b9\u30af\u306e\u6709\u7121\u306b\u3044\u305f\u308b\u307e\u3067\u3001\u3053\u3053\u307e\u3067\u306e\u8b70\u8ad6\u3068\u5206\u6790\u306e\u5168\u8c8c\u3092\u4f53\u7cfb\u7684\u304b\u3064\u7db2\u7f85\u7684\u306b\u518d\u69cb\u6210\u3057\u3001\u8a73\u7d30\u306b\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n<div>\n<div class=\"attention a-1\">\n<p style=\"text-align: left;\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa.jpg\" alt=\"\u76e3\u4fee\u8005\uff1a\u5e02\u5ddd\u96c4\u4e00\u90ce\" width=\"110\" height=\"110\" class=\"wp-image-2102 alignnone\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa.jpg 700w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa-300x300.jpg 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa-150x150.jpg 150w\" sizes=\"(max-width: 110px) 100vw, 110px\" \/>\u3000<strong>\u76e3\u4fee\u8005\uff1a\u5e02\u5ddd\u96c4\u4e00\u90ce\u3000<\/strong><br \/>\n<span style=\"font-size: 10pt;\"><a href=\"https:\/\/official.gfs.tokyo\/\">GFS<\/a>\u6821\u9577\u3002CFP\u00ae\u30021\u7d1a\u30d5\u30a1\u30a4\u30ca\u30f3\u30b7\u30e3\u30eb\u30fb\u30d7\u30e9\u30f3\u30cb\u30f3\u30b0\u6280\u80fd\u58eb(\u8cc7\u7523\u8a2d\u8a08\u63d0\u6848\u696d\u52d9)\u3002<a href=\"https:\/\/www.jafp.or.jp\/\">\u65e5\u672cFP\u5354\u4f1a<\/a>\u4f1a\u54e1\u3002\u65e5\u672cFP\u5b66\u4f1a\u4f1a\u54e1\u3002\u00a0<a href=\"https:\/\/mba.globis.ac.jp\/\">\u30b0\u30ed\u30fc\u30d3\u30b9\u7d4c\u55b6\u5927\u5b66\u9662<\/a>\u4fee\u4e86(MBA\/\u7d4c\u55b6\u5b66\u4fee\u58eb)\u3002<\/span><br \/>\n<span style=\"font-size: 10pt;\">\u65e5\u672c\u306eFP\u306e\u5148\u99c6\u8005\u3068\u3057\u3066\u8cc7\u7523\u904b\u7528\u306e\u5553\u8499\u306b\u5f93\u4e8b\u3002\u30bd\u30d5\u30c8\u30d0\u30f3\u30af\u30b0\u30eb\u30fc\u30d7\u304c\u5275\u8a2d\u3057\u305f\u79c1\u7acb<a href=\"https:\/\/www.cyber-u.ac.jp\/teacher\/ichikawa_yuichiro.html\">\u30b5\u30a4\u30d0\u30fc\u5927\u5b66<\/a>\u3067\u6559\u97ad\u3092\u57f7\u308b\u307b\u304b\u3001\u8b1b\u6f14\u4f9d\u983c\u3001\u30e1\u30c7\u30a3\u30a2\u51fa\u6f14\u3082\u591a\u6570\u3002\u8457\u66f8\u306b<a href=\"https:\/\/www.amazon.co.jp\/%E6%8A%95%E8%B3%87%E3%81%A7%E5%88%A9%E7%9B%8A%E3%82%92%E5%87%BA%E3%81%97%E3%81%A6%E3%81%84%E3%82%8B%E4%BA%BA%E3%81%9F%E3%81%A1%E3%81%8C%E5%A4%A7%E4%BA%8B%E3%81%AB%E3%81%97%E3%81%A6%E3%81%84%E3%82%8B-45%E3%81%AE%E6%95%99%E3%81%88-%E5%B8%82%E5%B7%9D-%E9%9B%84%E4%B8%80%E9%83%8E\/dp\/4532358825\">\u300c\u6295\u8cc7\u3067\u5229\u76ca\u3092\u51fa\u3057\u3066\u3044\u308b\u4eba\u305f\u3061\u304c\u5927\u4e8b\u306b\u3057\u3066\u3044\u308b 45\u306e\u6559\u3048\u300d\uff08\u65e5\u672c\u7d4c\u6e08\u65b0\u805e\u51fa\u7248\uff09<\/a><\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 10pt;\">\u516c\u5f0fX \u30a2\u30ab\u30a6\u30f3\u30c8\u3000<a href=\"https:\/\/twitter.com\/ichikawa_toushi\">\u5e02\u5ddd\u96c4\u4e00\u90ce@\u304a\u91d1\u306e\u5b66\u6821 \u6821\u9577<\/a><\/span><\/p>\n<\/div>\n<\/div>\n<h1 data-path-to-node=\"2\">\u7b2c1\u7ae0 FRB\u3092\u5de1\u308b\u91d1\u878d\u653f\u7b56\u3068\u30a4\u30f3\u30d5\u30ec\u518d\u71c3\u61f8\u5ff5\u306e\u80cc\u666f<\/h1>\n<p data-path-to-node=\"3\">\u7c73\u56fd\u7d4c\u6e08\u304a\u3088\u3073\u30b0\u30ed\u30fc\u30d0\u30eb\u91d1\u878d\u5e02\u5834\u306b\u304a\u3044\u3066\u3001\u6700\u3082\u6ce8\u76ee\u3092\u96c6\u3081\u3066\u3044\u308b\u30c6\u30fc\u30de\u306e\u4e00\u3064\u304c\u300cFRB\uff08\u7c73\u9023\u90a6\u6e96\u5099\u7406\u4e8b\u4f1a\uff09\u306b\u3088\u308b\u91d1\u878d\u5f15\u304d\u7de0\u3081\u59ff\u52e2\u306e\u9577\u671f\u5316\u3001\u3042\u308b\u3044\u306f\u8ffd\u52a0\u5229\u4e0a\u3052\uff08\u518d\u5229\u4e0a\u3052\uff09\u306e\u53ef\u80fd\u6027\u300d\u3067\u3059\u3002\u5f53\u521d\u60f3\u5b9a\u3055\u308c\u3066\u3044\u305f\u65e9\u671f\u304b\u3064\u5927\u5e45\u306a\u5229\u4e0b\u3052\u30b7\u30ca\u30ea\u30aa\u306f\u5f8c\u9000\u3057\u3001FRB\u306f\u30a4\u30f3\u30d5\u30ec\u7387\u3092\u76ee\u6a19\u3067\u3042\u308b2%\u3078\u78ba\u5b9f\u306b\u53ce\u675f\u3055\u305b\u308b\u305f\u3081\u3001\u614e\u91cd\u304b\u3064\u30bf\u30ab\u6d3e\u7684\uff08\u5f15\u304d\u7de0\u3081\u7684\uff09\u306a\u59ff\u52e2\u3092\u5f37\u304f\u7dad\u6301\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"4\">FRB\u304c\u3053\u3046\u3057\u305f\u653f\u7b56\u30b9\u30bf\u30f3\u30b9\u3092\u7dad\u6301\u305b\u3056\u308b\u3092\u5f97\u306a\u3044\u80cc\u666f\u306b\u306f\u3001\u5358\u4e00\u306e\u8981\u56e0\u3067\u306f\u306a\u304f\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u3001\u52b4\u50cd\u5e02\u5834\u3001\u5de8\u984d\u306e\u8a2d\u5099\u6295\u8cc7\u3001\u305d\u3057\u3066\u671f\u5f85\u30a4\u30f3\u30d5\u30ec\u7387\u3068\u3044\u3063\u305f\u8907\u6570\u306e\u8981\u56e0\u304c\u8907\u96d1\u306b\u7d61\u307f\u5408\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<h3 data-path-to-node=\"5\">1.1 \u539f\u6cb9\u304a\u3088\u3073\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u306e\u9ad8\u6b62\u307e\u308a\u3068\u5730\u653f\u5b66\u7684\u30ea\u30b9\u30af<\/h3>\n<p data-path-to-node=\"6\">\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u306e\u52d5\u304d\u306f\u3001\u7dcf\u5408\u6d88\u8cbb\u8005\u7269\u4fa1\u6307\u6570\uff08CPI\uff09\u306b\u5bfe\u3057\u3066\u30c0\u30a4\u30ec\u30af\u30c8\u304b\u3064\u5373\u52b9\u6027\u306e\u9ad8\u3044\u5f71\u97ff\u3092\u4e0e\u3048\u307e\u3059\u3002\u4e2d\u6771\u60c5\u52e2\u306e\u7dca\u8feb\u5316\u3092\u306f\u3058\u3081\u3068\u3059\u308b\u5730\u653f\u5b66\u7684\u30ea\u30b9\u30af\u306e\u9ad8\u307e\u308a\u3084\u3001\u4e3b\u8981\u7523\u6cb9\u56fd\u306b\u3088\u308b\u4f9b\u7d66\u8abf\u6574\u306a\u3069\u3092\u80cc\u666f\u306b\u539f\u6cb9\u4fa1\u683c\u304c\u9ad8\u6c34\u6e96\u3067\u63a8\u79fb\u3059\u308b\u3053\u3068\u304c\u3001\u30a4\u30f3\u30d5\u30ec\u7d42\u606f\u3078\u306e\u5927\u304d\u306a\u969c\u58c1\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"7\">\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u306e\u4e0a\u6607\u306f\u3001\u5358\u306b\u30ac\u30bd\u30ea\u30f3\u4fa1\u683c\u3084\u96fb\u6c17\u4ee3\u306e\u4e0a\u6607\u306b\u3068\u3069\u307e\u308a\u307e\u305b\u3093\u3002\u8f38\u9001\u30b3\u30b9\u30c8\u306e\u5897\u52a0\u3092\u901a\u3058\u3066\u98df\u6599\u54c1\u3084\u4e00\u822c\u6d88\u8cbb\u8ca1\u306e\u4fa1\u683c\u306b\u8ee2\u5ac1\u3055\u308c\u308b\u307b\u304b\u3001\u88fd\u9020\u696d\u306e\u751f\u7523\u30b3\u30b9\u30c8\u3092\u62bc\u3057\u4e0a\u3052\u308b\u305f\u3081\u3001\u7d4c\u6e08\u5168\u4f53\u3078\u5e83\u7bc4\u306a\u4e8c\u6b21\u6ce2\u53ca\u52b9\u679c\uff08\u30bb\u30ab\u30f3\u30c9\u30e9\u30a6\u30f3\u30c9\u30fb\u30a8\u30d5\u30a7\u30af\u30c8\uff09\u3092\u3082\u305f\u3089\u3057\u307e\u3059\u3002FRB\u306b\u3068\u3063\u3066\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u8d77\u56e0\u306e\u7269\u4fa1\u9ad8\u306f\u653f\u7b56\u91d1\u5229\u306e\u5f15\u304d\u4e0b\u3052\u3092\u8e8a\u8e87\u3055\u305b\u308b\u6700\u5927\u306e\u5916\u90e8\u30b7\u30e7\u30c3\u30af\u8981\u56e0\u3067\u3059\u3002<\/p>\n<h3 data-path-to-node=\"8\">1.2 \u60f3\u5b9a\u4ee5\u4e0a\u306e\u7c73\u7d4c\u6e08\u306e\u5e95\u5805\u3055\u3068\u5f37\u3044\u52b4\u50cd\u5e02\u5834<\/h3>\n<p data-path-to-node=\"9\">\u91d1\u5229\u304c\u9ad8\u6c34\u6e96\u306b\u7dad\u6301\u3055\u308c\u3066\u3044\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u7c73\u56fd\u7d4c\u6e08\u306f\u6975\u3081\u3066\u5f37\u3044\u529b\u5f37\u3055\u3092\u7dad\u6301\u3057\u3066\u3044\u307e\u3059\u3002\u7279\u306b\u52b4\u50cd\u5e02\u5834\u306e\u9700\u7d66\u30d0\u30e9\u30f3\u30b9\u306f\u5f15\u304d\u7de0\u307e\u3063\u305f\u72b6\u614b\u304c\u7d9a\u3044\u3066\u304a\u308a\u3001\u5931\u696d\u7387\u306f\u6b74\u53f2\u7684\u4f4e\u6c34\u6e96\u3067\u63a8\u79fb\u3057\u3001\u975e\u8fb2\u696d\u90e8\u9580\u96c7\u7528\u8005\u6570\u3082\u5805\u8abf\u306a\u5897\u52a0\u3092\u898b\u305b\u3066\u3044\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"10\">\u4eba\u624b\u4e0d\u8db3\u306b\u4f34\u3046\u8cc3\u91d1\u306e\u5805\u8abf\u306a\u4f38\u3073\u306f\u3001\u5bb6\u8a08\u306e\u53ef\u51e6\u5206\u6240\u5f97\u3092\u4e0b\u652f\u3048\u3057\u3001\u500b\u4eba\u6d88\u8cbb\u3092\u6d3b\u6027\u5316\u3055\u305b\u307e\u3059\u3002\u3057\u304b\u3057\u91d1\u878d\u653f\u7b56\u306e\u89b3\u70b9\u304b\u3089\u898b\u308c\u3070\u3001\u5f37\u56fa\u306a\u52b4\u50cd\u5e02\u5834\u3068\u8cc3\u91d1\u4e0a\u6607\u5727\u529b\u306f\u30b5\u30fc\u30d3\u30b9\u4fa1\u683c\u306e\u4e0a\u6607\uff08\u7c98\u7740\u6027\u30a4\u30f3\u30d5\u30ec\uff09\u3092\u3082\u305f\u3089\u3059\u4e3b\u56e0\u3068\u306a\u308a\u307e\u3059\u3002\u7269\u4fa1\u76ee\u6a192%\u306e\u9054\u6210\u306b\u306f\u52b4\u50cd\u5e02\u5834\u306e\u9069\u5ea6\u306a\u6e1b\u901f\uff08\u51b7\u5374\uff09\u304c\u5fc5\u8981\u3068\u3055\u308c\u3066\u3044\u307e\u3059\u304c\u3001\u7d4c\u6e08\u306e\u5730\u529b\u304c\u4e88\u60f3\u4ee5\u4e0a\u306b\u5f37\u3044\u3053\u3068\u304c\u3001FRB\u306b\u8ffd\u52a0\u5229\u4e0a\u3052\u3068\u3044\u3046\u9078\u629e\u80a2\u3092\u7dad\u6301\u3055\u305b\u308b\u8981\u56e0\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<h3 data-path-to-node=\"11\">1.3 \u6d3b\u767a\u306aAI\u95a2\u9023\u6295\u8cc7\u306b\u3088\u308b\u9700\u8981\u62bc\u3057\u4e0a\u3052\u52b9\u679c<\/h3>\n<p data-path-to-node=\"12\">\u73fe\u5728\u306e\u7d4c\u6e08\u72b6\u6cc1\u3092\u8c61\u5fb4\u3059\u308b\u65b0\u305f\u306a\u8981\u56e0\u3068\u3057\u3066\u3001\u751f\u6210AI\u3092\u306f\u3058\u3081\u3068\u3059\u308b\u5148\u9032\u6280\u8853\u3078\u306e\u5de8\u984d\u6295\u8cc7\u304c\u6319\u3052\u3089\u308c\u307e\u3059\u3002\u5927\u624bIT\u4f01\u696d\uff08\u30d3\u30c3\u30b0\u30c6\u30c3\u30af\uff09\u3092\u4e2d\u5fc3\u306b\u3001AI\u30a4\u30f3\u30d5\u30e9\u3001\u534a\u5c0e\u4f53\u3001\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u5efa\u8a2d\u3078\u306e\u8a2d\u5099\u6295\u8cc7\u304c\u4e16\u754c\u898f\u6a21\u3067\u6025\u901f\u306b\u62e1\u5927\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"13\">\u3053\u306e\u5de8\u5927\u306a\u6295\u8cc7\u30b5\u30a4\u30af\u30eb\u306f\u3001\u4ee5\u4e0b\u306e\u7d4c\u8def\u3092\u901a\u3058\u3066\u30a4\u30f3\u30d5\u30ec\u5727\u529b\u3068\u3057\u3066\u4f5c\u7528\u3057\u307e\u3059\u3002<\/p>\n<ul data-path-to-node=\"14\">\n<li>\n<p data-path-to-node=\"14,0,0\"><b data-path-to-node=\"14,0,0\" data-index-in-node=\"0\">\u8cc7\u6750\u30fb\u8a2d\u5099\u9700\u8981\u306e\u6025\u5897:<\/b> \u9ad8\u6027\u80fd\u534a\u5c0e\u4f53\u3001\u30b5\u30fc\u30d0\u30fc\u3001\u901a\u4fe1\u6a5f\u5668\u306a\u3069\u306e\u9700\u8981\u304c\u96c6\u4e2d\u3057\u3001\u95a2\u9023\u7523\u696d\u306e\u4fa1\u683c\u6c7a\u5b9a\u529b\u3092\u9ad8\u3081\u3066\u3044\u307e\u3059\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"14,1,0\"><b data-path-to-node=\"14,1,0\" data-index-in-node=\"0\">\u96fb\u529b\u9700\u8981\u306e\u5897\u5927:<\/b> \u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u306e\u7a3c\u50cd\u306b\u4f34\u3046\u96fb\u529b\u6d88\u8cbb\u91cf\u306e\u6025\u5897\u306f\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u30a4\u30f3\u30d5\u30e9\u3078\u306e\u8ffd\u52a0\u6295\u8cc7\u3092\u547c\u3073\u8d77\u3053\u3057\u3001\u96fb\u529b\u4fa1\u683c\u306e\u4e0a\u6607\u8981\u56e0\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"14,2,0\"><b data-path-to-node=\"14,2,0\" data-index-in-node=\"0\">\u9ad8\u5ea6\u4eba\u6750\u306e\u7372\u5f97\u7af6\u4e89:<\/b> AI\u30a8\u30f3\u30b8\u30cb\u30a2\u3084\u30c7\u30fc\u30bf\u30b5\u30a4\u30a8\u30f3\u30c6\u30a3\u30b9\u30c8\u306a\u3069\u306e\u4eba\u4ef6\u8cbb\u304c\u6025\u9a30\u3057\u3001\u6280\u8853\u30bb\u30af\u30bf\u30fc\u5168\u4f53\u306e\u30b3\u30b9\u30c8\u69cb\u9020\u3092\u5f15\u304d\u4e0a\u3052\u3066\u3044\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"15\">\u3053\u306e\u3088\u3046\u306b\u3001\u9769\u65b0\u7684\u306a\u6280\u8853\u6295\u8cc7\u306f\u4e2d\u9577\u671f\u7684\u306a\u751f\u7523\u6027\u5411\u4e0a\u306b\u5bc4\u4e0e\u3059\u308b\u4e00\u65b9\u3067\u3001\u77ed\u671f\u7684\u306b\u306f\u5f37\u529b\u306a\u300c\u7dcf\u9700\u8981\u306e\u62bc\u3057\u4e0a\u3052\u8981\u56e0\u300d\u3068\u3057\u3066\u6a5f\u80fd\u3057\u3001FRB\u306e\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u7b56\u3068\u30d0\u30c3\u30c6\u30a3\u30f3\u30b0\u3059\u308b\u5074\u9762\u3092\u6301\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<h3 data-path-to-node=\"16\">1.4 FRB\u9ad8\u5b98\u306e\u300c\u30bf\u30ab\u6d3e\u300d\u767a\u8a00\u3068\u30d5\u30a9\u30ef\u30fc\u30c9\u30ac\u30a4\u30c0\u30f3\u30b9\u306e\u5909\u5316<\/h3>\n<p data-path-to-node=\"17\">\u3053\u3046\u3057\u305f\u7d4c\u6e08\u74b0\u5883\u3092\u53d7\u3051\u3001FOMC\uff08\u7c73\u9023\u90a6\u516c\u958b\u5e02\u5834\u59d4\u54e1\u4f1a\uff09\u53c2\u52a0\u8005\u3084\u5730\u533a\u9023\u9280\u7dcf\u88c1\u306a\u3069\u306e\u653f\u7b56\u62c5\u5f53\u8005\u304b\u3089\u767a\u305b\u3089\u308c\u308b\u30e1\u30c3\u30bb\u30fc\u30b8\u306f\u3001\u660e\u3089\u304b\u306b\u30bf\u30ab\u6d3e\u7684\uff08\u5f15\u304d\u7de0\u3081\u91cd\u8996\uff09\u3078\u3068\u30c8\u30fc\u30f3\u3092\u5f37\u3081\u3066\u3044\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"18\">\u904e\u53bb\u306b\u5e02\u5834\u304c\u671f\u5f85\u3057\u3066\u3044\u305f\u3088\u3046\u306a\u300c\u901f\u3084\u304b\u306a\u5229\u4e0b\u3052\u3078\u306e\u8ee2\u63db\u300d\u306f\u6253\u3061\u6d88\u3055\u308c\u3001\u300c\u30a4\u30f3\u30d5\u30ec\u4f4e\u4e0b\u306e\u78ba\u4fe1\u304c\u5f97\u3089\u308c\u308b\u307e\u3067\u306f\u9ad8\u6c34\u6e96\u306e\u91d1\u5229\u3092\u7dad\u6301\u3059\u308b\uff08Higher for Longer\uff09\u300d\u3068\u3044\u3046\u65b9\u91dd\u304c\u5f37\u8abf\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u3055\u3089\u306b\u306f\u3001\u7269\u4fa1\u6307\u6a19\u3084\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u304c\u3055\u3089\u306b\u60aa\u5316\u3057\u305f\u5834\u5408\u306b\u306f\u300c\u8ffd\u52a0\u5229\u4e0a\u3052\u3082\u6392\u9664\u3057\u306a\u3044\u300d\u3068\u3044\u3046\u9078\u629e\u80a2\u304cFOMC\u306e\u9078\u629e\u80a2\u3068\u3057\u3066\u5e38\u6642\u63d0\u793a\u3055\u308c\u308b\u3088\u3046\u306b\u306a\u308a\u3001\u91d1\u878d\u5e02\u5834\u306b\u304a\u3051\u308b\u30bf\u30fc\u30df\u30ca\u30eb\u30ec\u30fc\u30c8\uff08\u5230\u9054\u70b9\u91d1\u5229\uff09\u306e\u5207\u308a\u4e0a\u3052\u89b3\u6e2c\u3092\u751f\u307f\u51fa\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<h1 data-path-to-node=\"20\">\u7b2c2\u7ae0 \u5229\u4e0a\u3052\u61f8\u5ff5\u4e0b\u306b\u304a\u3051\u308b\u682a\u5f0f\u5e02\u5834\u306e\u4e0a\u6607\u30e1\u30ab\u30cb\u30ba\u30e0<\/h1>\n<p data-path-to-node=\"21\">\u7d4c\u6e08\u5b66\u306e\u6a19\u6e96\u7684\u306a\u7406\u8ad6\u306b\u304a\u3044\u3066\u306f\u3001\u300c\u91d1\u5229\u306e\u4e0a\u6607\uff1d\u682a\u4fa1\u306e\u4e0b\u843d\u300d\u3068\u3044\u3046\u9006\u76f8\u95a2\u306e\u95a2\u4fc2\u304c\u60f3\u5b9a\u3055\u308c\u307e\u3059\u3002\u91d1\u5229\u306e\u4e0a\u6607\u306f\u4f01\u696d\u306e\u8cc7\u91d1\u8abf\u9054\u30b3\u30b9\u30c8\u3092\u5897\u52a0\u3055\u305b\u3001\u5c06\u6765\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u5272\u5f15\u7387\u3092\u9ad8\u3081\u308b\u305f\u3081\u3001\u7279\u306b\u7406\u8ad6\u682a\u4fa1\u3084\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\uff08PER\u306a\u3069\uff09\u306b\u5bfe\u3057\u3066\u5f37\u3044\u62bc\u3057\u4e0b\u3052\u5727\u529b\u3068\u3057\u3066\u50cd\u304f\u305f\u3081\u3067\u3059\u3002<\/p>\n<p data-path-to-node=\"22\">\u3057\u304b\u3057\u73fe\u5b9f\u306e\u682a\u5f0f\u5e02\u5834\u3067\u306f\u3001FRB\u306b\u3088\u308b\u5229\u4e0a\u3052\u3084\u9ad8\u91d1\u5229\u306e\u7dad\u6301\u304c\u53d6\u308a\u6c99\u6c70\u3055\u308c\u3066\u3044\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001S&amp;P 500\u3084Nasdaq\u306a\u3069\u306e\u4e3b\u8981\u682a\u4fa1\u6307\u6570\u304c\u4e0a\u6607\u30fb\u5e95\u5805\u3055\u3092\u7dad\u6301\u3059\u308b\u5c40\u9762\u304c\u591a\u3005\u898b\u3089\u308c\u307e\u3059\u3002\u3053\u306e\u7406\u8ad6\u3068\u73fe\u5b9f\u306e\u4e56\u96e2\u3092\u89e3\u304d\u660e\u304b\u3059\u306b\u306f\u3001\u91d1\u5229\u3068\u3044\u3046\u5358\u4e00\u306e\u5909\u6570\u3060\u3051\u3067\u306a\u304f\u3001\u4f01\u696d\u696d\u7e3e\u3084\u5e02\u5834\u306e\u69cb\u9020\u7684\u5909\u5316\u3092\u542b\u3081\u305f\u591a\u89d2\u7684\u306a\u8996\u70b9\u304c\u5fc5\u8981\u3067\u3059\u3002<\/p>\n<p><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-556 enable-luminous-code-block ng-star-inserted\"><\/code-block><\/response-element><\/p>\n<div _ngcontent-ng-c3974374368=\"\" class=\"code-block ng-tns-c3974374368-556 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:W1sicl81MWZmZmU3ODA1NjNlNWE0IiwiY181ODE0OGI2ZDgwNzIxMDEzIixudWxsLCJyY19mZWZhYWIxMWFhNjYyMTgyIixudWxsLG51bGwsImphIixudWxsLDEsbnVsbCxudWxsLDEsMF1d\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"formatted-code-block-internal-container ng-tns-c3974374368-556\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"animated-opacity ng-tns-c3974374368-556\">\n<pre _ngcontent-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-556\"><code _ngcontent-ng-c3974374368=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3974374368-556 no-decoration-radius\">\u3010\u91d1\u5229\u4e0a\u6607\u3068\u682a\u4fa1\u306e\u95a2\u4fc2\u306b\u304a\u3051\u308b2\u3064\u306e\u5bfe\u6bd4\u69cb\u9020\u3011\r\n\r\n\u901a\u5e38\u7406\u8ad6\uff08\u6559\u79d1\u66f8\u7684\u30a2\u30d7\u30ed\u30fc\u30c1\uff09:\r\n\u91d1\u5229\u4e0a\u6607 \u2500\u2500\u2500&gt; \u5272\u5f15\u7387\u306e\u4e0a\u6607\u30fb\u8abf\u9054\u30b3\u30b9\u30c8\u5897 \u2500\u2500\u2500&gt; \u682a\u4fa1\u4e0b\u843d\r\n\r\n\u5b9f\u969b\u306e\u5e02\u5834\uff08\u73fe\u5728\u306e\u7d4c\u6e08\u74b0\u5883\uff09:\r\n\u5f37\u3044\u7d4c\u6e08\u30fbAI\u6295\u8cc7 \u2500\u2500\u2500&gt; \u4f01\u696d\u696d\u7e3e\uff08EPS\uff09\u306e\u6025\u4f38\u3073 \u2500\u2500\u2500&gt; \u682a\u4fa1\u4e0a\u6607\uff08\u91d1\u5229\u9ad8\u306e\u60aa\u5f71\u97ff\u3092\u51cc\u99d5\uff09\r\n<\/code><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<h3 data-path-to-node=\"24\">2.1 \u4f01\u696d\u696d\u7e3e\uff08EPS\uff09\u306e\u529b\u5f37\u3044\u4f38\u3073\u306b\u3088\u308b\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u8abf\u6574\u306e\u5438\u53ce<\/h3>\n<p data-path-to-node=\"25\">\u682a\u4fa1\u306f\u672c\u8cea\u7684\u306b\u300cEPS\uff081\u682a\u5f53\u305f\u308a\u5229\u76ca\uff09 \u00d7 PER\uff08\u682a\u4fa1\u53ce\u76ca\u7387\uff09\u300d\u3067\u6c7a\u5b9a\u3055\u308c\u307e\u3059\u3002\u91d1\u5229\u306e\u4e0a\u6607\u306f\u4e3b\u306b\u7406\u8ad6\u4e0a\u306ePER\uff08\u500d\u7387\uff09\u3092\u6291\u5236\u3059\u308b\u65b9\u5411\u306b\u4f5c\u7528\u3057\u307e\u3059\u304c\u3001\u4f01\u696d\u304c\u305d\u308c\u3092\u9065\u304b\u306b\u4e0a\u56de\u308b\u30b9\u30d4\u30fc\u30c9\u3067EPS\uff08\u5229\u76ca\uff09\u3092\u62e1\u5927\u3055\u305b\u308b\u3053\u3068\u304c\u3067\u304d\u308c\u3070\u3001\u682a\u4fa1\u306f\u554f\u984c\u306a\u304f\u4e0a\u6607\u3057\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"26\">\u73fe\u4ee3\u306e\u7c73\u4e3b\u8981\u4f01\u696d\u3001\u7279\u306b\u5927\u578b\u30cf\u30a4\u30c6\u30af\u4f01\u696d\u3084\u30b0\u30ed\u30fc\u30d0\u30eb\u30ea\u30fc\u30c0\u30fc\u4f01\u696d\u306f\u3001\u9ad8\u3044\u4fa1\u683c\u8ee2\u5ac1\u80fd\u529b\u3068\u5f37\u529b\u306a\u8ca1\u52d9\u57fa\u76e4\uff08\u8c4a\u5bcc\u306a\u624b\u5143\u8cc7\u91d1\uff09\u3092\u6709\u3057\u3066\u3044\u307e\u3059\u3002\u30a4\u30f3\u30d5\u30ec\u4e0b\u306b\u3042\u3063\u3066\u3082\u30b3\u30b9\u30c8\u4e0a\u6607\u5206\u3092\u88fd\u54c1\u30fb\u30b5\u30fc\u30d3\u30b9\u4fa1\u683c\u3078\u67d4\u8edf\u306b\u8ee2\u5ac1\u3067\u304d\u308b\u305f\u3081\u3001\u5229\u76ca\u7387\u3092\u7dad\u6301\u30fb\u62e1\u5927\u3059\u308b\u3053\u3068\u304c\u53ef\u80fd\u3067\u3059\u3002\u307e\u305f\u3001\u91d1\u5229\u4e0a\u6607\u306b\u3088\u3063\u3066\u6709\u5229\u5b50\u8ca0\u50b5\u306e\u5c11\u306a\u3044\u30ad\u30e3\u30c3\u30b7\u30e5\u30ea\u30c3\u30c1\u4f01\u696d\u306f\u3080\u3057\u308d\u53d7\u53d6\u5229\u606f\u304c\u5897\u52a0\u3059\u308b\u3068\u3044\u3046\u69cb\u9020\u3082\u5b58\u5728\u3057\u307e\u3059\u3002\u3053\u308c\u306b\u3088\u308a\u3001\u5272\u5f15\u7387\u306e\u4e0a\u6607\u3068\u3044\u3046\u30de\u30a4\u30ca\u30b9\u52b9\u679c\u3092EPS\u306e\u4f38\u3073\u304c\u5b8c\u5168\u306b\u5438\u53ce\u3057\u3001\u682a\u4fa1\u306e\u5805\u8abf\u3055\u3092\u652f\u3048\u3066\u3044\u307e\u3059\u3002<\/p>\n<h3 data-path-to-node=\"27\">2.2 \u300c\u30ce\u30fc\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\uff08\u7121\u7740\u9678\uff09\u300d\u30b7\u30ca\u30ea\u30aa\u3078\u306e\u671f\u5f85<\/h3>\n<p data-path-to-node=\"28\">\u682a\u5f0f\u5e02\u5834\u304c\u6700\u3082\u6050\u308c\u308b\u4e8b\u614b\u306f\u3001\u9ad8\u91d1\u5229\u306b\u3088\u3063\u3066\u7d4c\u6e08\u304c\u6025\u901f\u306b\u51b7\u3048\u8fbc\u307f\u3001\u4f01\u696d\u696d\u7e3e\u304c\u6fc0\u6e1b\u3059\u308b\u300c\u6df1\u523b\u306a\u666f\u6c17\u5f8c\u9000\uff08\u30cf\u30fc\u30c9\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\uff09\u300d\u3067\u3059\u3002<\/p>\n<p data-path-to-node=\"29\">\u4e00\u65b9\u3001FRB\u304c\u5229\u4e0a\u3052\u3092\u691c\u8a0e\u305b\u3056\u308b\u3092\u5f97\u306a\u3044\u307b\u3069\u7d4c\u6e08\u304c\u5f37\u3044\u3068\u3044\u3046\u4e8b\u5b9f\u306f\u3001\u88cf\u3092\u8fd4\u305b\u3070\u300c\u666f\u6c17\u5931\u901f\u306e\u30ea\u30b9\u30af\u304c\u8457\u3057\u304f\u4f4e\u3044\u300d\u3053\u3068\u3092\u610f\u5473\u3057\u307e\u3059\u3002\u5e02\u5834\u53c2\u52a0\u8005\u306e\u610f\u8b58\u304c\u300c\u666f\u6c17\u5f8c\u9000\u3078\u306e\u6050\u6016\u300d\u304b\u3089\u300c\u7d4c\u6e08\u306e\u5f37\u3055\u3078\u306e\u78ba\u4fe1\u300d\u3078\u3068\u30b7\u30d5\u30c8\u3059\u308b\u3068\u3001\u9ad8\u91d1\u5229\u3068\u3044\u3046\u30c7\u30e1\u30ea\u30c3\u30c8\u3088\u308a\u3082\u3001\u5f37\u3044\u9700\u8981\u3068\u58f2\u308a\u4e0a\u3052\u306e\u4f38\u3073\u3068\u3044\u3046\u30e1\u30ea\u30c3\u30c8\u304c\u597d\u611f\u3055\u308c\u307e\u3059\u3002\u666f\u6c17\u5f8c\u9000\u3082\u6e1b\u901f\u3082\u631f\u307e\u305a\u306b\u6210\u9577\u304c\u7d9a\u304f\u3068\u3044\u3046\u300c\u30ce\u30fc\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u300d\u89b3\u6e2c\u306e\u9ad8\u307e\u308a\u304c\u3001\u682a\u5f0f\u5e02\u5834\u3078\u306e\u30ea\u30b9\u30af\u30aa\u30f3\u306e\u8cc7\u91d1\u6d41\u5165\u3092\u52a0\u901f\u3055\u305b\u308b\u8981\u56e0\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<h3 data-path-to-node=\"30\">2.3 \u30bf\u30fc\u30df\u30ca\u30eb\u30ec\u30fc\u30c8\uff08\u5230\u9054\u70b9\u91d1\u5229\uff09\u306e\u898b\u901a\u3057\u3068\u4e0d\u78ba\u5b9f\u6027\u306e\u4f4e\u4e0b<\/h3>\n<p data-path-to-node=\"31\">\u91d1\u878d\u5e02\u5834\u304c\u6700\u3082\u5acc\u3046\u306e\u306f\u300c\u4e0d\u78ba\u5b9f\u6027\u300d\u3067\u3059\u3002\u304b\u3064\u3066\u306e\u3088\u3046\u306b\u653f\u7b56\u91d1\u5229\u304c\u30bc\u30ed\u304b\u3089\u6025\u30d4\u30c3\u30c1\u3067\u5f15\u304d\u4e0a\u3052\u3089\u308c\u3066\u3044\u305f\u5c40\u9762\uff08\u5229\u4e0a\u3052\u306e\u521d\u671f\u301c\u4e2d\u671f\uff09\u3067\u306f\u3001\u3069\u3053\u307e\u3067\u91d1\u5229\u304c\u4e0a\u304c\u308b\u304b\u5206\u304b\u3089\u306a\u3044\u3068\u3044\u3046\u6050\u6016\u304b\u3089\u682a\u4fa1\u306f\u5927\u304d\u304f\u8abf\u6574\u3057\u307e\u3057\u305f\u3002<\/p>\n<p data-path-to-node=\"32\">\u3057\u304b\u3057\u73fe\u5728\u306e\u5c40\u9762\u3067\u306f\u3001\u4eee\u306b\u8ffd\u52a0\u5229\u4e0a\u3052\u304c\u884c\u308f\u308c\u308b\u3068\u3057\u3066\u3082\u3001\u305d\u308c\u306f\u300c\u91d1\u5229\u30b5\u30a4\u30af\u30eb\u306e\u6700\u7d42\u6bb5\u968e\uff08\u30bf\u30fc\u30df\u30ca\u30eb\u30ec\u30fc\u30c8\u306e\u5fae\u4fee\u6b63\uff09\u300d\u3067\u3042\u308a\u3001\u4e0a\u3052\u5e45\u306e\u9650\u754c\u3084\u91d1\u5229\u306e\u5929\u4e95\u611f\u306f\u3042\u308b\u7a0b\u5ea6\u4e88\u6e2c\u53ef\u80fd\u306a\u7bc4\u56f2\u306b\u53ce\u307e\u3063\u3066\u3044\u307e\u3059\u3002\u5229\u4e0a\u3052\u306e\u30b4\u30fc\u30eb\u304c\u898b\u3048\u3066\u3044\u308b\u72b6\u6cc1\u4e0b\u3067\u306f\u3001\u6295\u8cc7\u5bb6\u306f\u91d1\u5229\u30b7\u30e7\u30c3\u30af\u306b\u5bfe\u3059\u308b\u30ea\u30b9\u30af\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u904e\u5ea6\u306b\u76db\u308a\u8fbc\u3080\u5fc5\u8981\u304c\u306a\u304f\u306a\u308a\u3001\u4e2d\u9577\u671f\u7684\u306a\u6210\u9577\u6027\u306b\u7126\u70b9\u3092\u5f53\u3066\u3066\u500b\u5225\u9298\u67c4\u3084\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u3092\u8cb7\u3046\u3053\u3068\u304c\u53ef\u80fd\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<h3 data-path-to-node=\"33\">2.4 \u30a4\u30f3\u30d5\u30ec\u30d8\u30c3\u30b8\u3068\u3057\u3066\u306e\u682a\u5f0f\u9700\u8981\u3068\u81ea\u793e\u682a\u8cb7\u3044\uff08\u9700\u7d66\u9762\uff09<\/h3>\n<p data-path-to-node=\"34\">\u8cc7\u672c\u5e02\u5834\u306b\u304a\u3051\u308b\u8cc7\u91d1\u306e\u52d5\u304d\uff08\u9700\u7d66\u95a2\u4fc2\uff09\u3082\u3001\u682a\u4fa1\u306e\u5e95\u5805\u3055\u3092\u8aac\u660e\u3059\u308b\u91cd\u8981\u306a\u8981\u7d20\u3067\u3059\u3002<\/p>\n<ul data-path-to-node=\"35\">\n<li>\n<p data-path-to-node=\"35,0,0\"><b data-path-to-node=\"35,0,0\" data-index-in-node=\"0\">\u30a4\u30f3\u30d5\u30ec\u30d8\u30c3\u30b8\u6a5f\u80fd:<\/b> \u50b5\u5238\u3084\u73fe\u91d1\uff08\u30ad\u30e3\u30c3\u30b7\u30e5\uff09\u306f\u3001\u9ad8\u30a4\u30f3\u30d5\u30ec\u4e0b\u306b\u304a\u3044\u3066\u8cfc\u8cb7\u529b\u304c\u76ee\u6e1b\u308a\u3059\u308b\u3068\u3044\u3046\u6c7a\u5b9a\u7684\u306a\u5f31\u70b9\u3092\u6301\u3063\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306b\u5bfe\u3057\u3001\u53ce\u76ca\u3092\u62e1\u5927\u3067\u304d\u308b\u512a\u826f\u4f01\u696d\u306e\u682a\u5f0f\u306f\u300c\u30a4\u30f3\u30d5\u30ec\u8abf\u6574\u5f8c\u306e\u5b9f\u8cea\u30ea\u30bf\u30fc\u30f3\u3092\u5b88\u308b\u305f\u3081\u306e\u30d8\u30c3\u30b8\u8cc7\u7523\u300d\u3068\u3057\u3066\u9078\u629e\u3055\u308c\u307e\u3059\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"35,1,0\"><b data-path-to-node=\"35,1,0\" data-index-in-node=\"0\">\u5f37\u529b\u306a\u81ea\u793e\u682a\u8cb7\u3044:<\/b> \u7c73\u56fd\u306e\u5927\u624b\u4f01\u696d\u306f\u3001\u9ad8\u91d1\u5229\u4e0b\u3067\u3042\u3063\u3066\u3082\u6f64\u6ca2\u306a\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u6d3b\u7528\u3057\u3066\u81ea\u793e\u682a\u8cb7\u3044\u3092\u7d99\u7d9a\u3057\u3066\u3044\u307e\u3059\u3002\u682a\u5f0f\u306e\u4f9b\u7d66\u91cf\u3092\u5e02\u5834\u304b\u3089\u8cb7\u3044\u4e0a\u3052\u308b\u81ea\u793e\u682a\u8cb7\u3044\u306f\u30011\u682a\u5f53\u305f\u308a\u5229\u76ca\uff08EPS\uff09\u3092\u4eba\u5de5\u7684\u306b\u5f15\u304d\u4e0a\u3052\u308b\u3068\u540c\u6642\u306b\u3001\u5e02\u5834\u306e\u5f37\u529b\u306a\u4e0b\u652f\u3048\uff08\u30af\u30c3\u30b7\u30e7\u30f3\uff09\u3068\u3057\u3066\u6a5f\u80fd\u3057\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<div class=\"xcd-attention-6 xcd-col5 xcd-ripple\">\n<div class=\"xcd-title-wrap\">\n<div class=\"xcd-title\"><span>\u3042\u306a\u305f\u306b\u672c\u5f53\u306b\u9069\u3057\u305f\u6295\u8cc7\u306f\u3069\u308c\uff1f<\/span><\/div>\n<\/div>\n<div class=\"xcd-content\">\n<p><span style=\"font-size: 12pt;\"><strong>\u30fb\u6295\u8cc7\u3067\u53ce\u5165\u3092\u5f97\u305f\u3044\u3001\u8cc7\u7523\u3092\u5897\u3084\u3057\u305f\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u30ea\u30b9\u30af\u306f\u3067\u304d\u308b\u3060\u3051\u6291\u3048\u305f\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u6295\u8cc7\u5148\u306e\u898b\u6975\u3081\u65b9\u3092\u77e5\u308a\u305f\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u6210\u529f\u3057\u3066\u3044\u308b\u6295\u8cc7\u5bb6\u3068\u63a5\u70b9\u304c\u6b32\u3057\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u7269\u4fa1\u4e0a\u6607\u3078\u306e\u5bfe\u7b56\u306b\u306f\u6295\u8cc7\u304c\u5fc5\u8981\u3068\u8003\u3048\u3066\u3044\u308b\u3000YES or NO<\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=article&amp;utm_medium=cta&amp;utm_content=ueoka\"><strong>\u2192\u3000YES\u304c\uff13\u3064\u4ee5\u4e0a\u3060\u3063\u305f\u65b9\u306f\u3001\u3053\u3061\u3089\u3092\u30af\u30ea\u30c3\u30af<\/strong><\/a><\/span><\/p>\n<\/div>\n<\/div>\n<h1 data-path-to-node=\"37\">\u7b2c3\u7ae0 \u904e\u53bb\u306eFRB\u5229\u4e0a\u3052\u5c40\u9762\u306b\u304a\u3051\u308b\u5e02\u5834\u30d1\u30bf\u30fc\u30f3\u306e\u6bd4\u8f03\u5206\u6790<\/h1>\n<p data-path-to-node=\"38\">FRB\u306e\u5229\u4e0a\u3052\u3068\u682a\u5f0f\u5e02\u5834\u306e\u95a2\u4fc2\u3092\u3088\u308a\u6df1\u304f\u7406\u89e3\u3059\u308b\u305f\u3081\u306b\u306f\u3001\u904e\u53bb\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u30b5\u30a4\u30af\u30eb\u306b\u304a\u3051\u308b\u6b74\u53f2\u7684\u30d1\u30bf\u30fc\u30f3\u3092\u5206\u6790\u3059\u308b\u3053\u3068\u304c\u6975\u3081\u3066\u6709\u52b9\u3067\u3059\u3002\u6b74\u53f2\u3092\u632f\u308a\u8fd4\u308b\u3068\u3001\u5229\u4e0a\u3052\u5c40\u9762\u306b\u304a\u3051\u308b\u682a\u4fa1\u306e\u52d5\u5411\u306f\u5747\u4e00\u3067\u306f\u306a\u304f\u3001\u5927\u304d\u304f\u300c\u696d\u7e3e\u76f8\u5834\uff08\u4e0a\u6607\uff09\u300d\u3001\u300c\u30b7\u30e7\u30c3\u30af\u5b89\uff08\u4e0b\u843d\uff09\u300d\u3001\u300c\u5229\u4e0a\u3052\u505c\u6b62\u30fb\u898b\u6975\u3081\uff08\u6025\u4f38\uff09\u300d\u306e3\u3064\u306e\u30d1\u30bf\u30fc\u30f3\u306b\u5206\u985e\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n<table data-path-to-node=\"39\">\n<thead>\n<tr>\n<td><strong>\u30d1\u30bf\u30fc\u30f3\u5206\u985e<\/strong><\/td>\n<td><strong>\u4e3b\u306a\u767a\u751f\u6642\u671f<\/strong><\/td>\n<td><strong>\u4e3b\u306a\u80cc\u666f\u3068\u7279\u5fb4<\/strong><\/td>\n<td><strong>\u682a\u4fa1\u306e\u52d5\u5411<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><span data-path-to-node=\"39,1,0,0\"><b data-path-to-node=\"39,1,0,0\" data-index-in-node=\"0\">1. \u696d\u7e3e\u76f8\u5834\uff08\u30bd\u30d5\u30c8\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\uff09<\/b><\/span><\/td>\n<td>\n<p data-path-to-node=\"39,1,1,0\">1994-1995\u5e74<\/p>\n<p><br data-path-to-node=\"39,1,1,1\" \/><\/p>\n<p data-path-to-node=\"39,1,1,2\">2004-2006\u5e74<\/p>\n<\/td>\n<td><span data-path-to-node=\"39,1,2,0\">\u666f\u6c17\u904e\u71b1\u3092\u9632\u3050\u4e88\u9632\u7684\u5229\u4e0a\u3052\u3002\u4f01\u696d\u696d\u7e3e\u306e\u62e1\u5927\u304c\u91d1\u5229\u30b3\u30b9\u30c8\u3092\u4e0a\u56de\u308b\u3002<\/span><\/td>\n<td><span data-path-to-node=\"39,1,3,0\"><b data-path-to-node=\"39,1,3,0\" data-index-in-node=\"0\">\u9577\u671f\u4e0a\u6607<\/b>\uff08\u521d\u671f\u306e\u8abf\u6574\u5f8c\u3001\u6700\u9ad8\u5024\u3092\u66f4\u65b0\uff09<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"39,2,0,0\"><b data-path-to-node=\"39,2,0,0\" data-index-in-node=\"0\">2. \u30b7\u30e7\u30c3\u30af\u30fb\u6025\u52a0\u901f\u5229\u4e0a\u3052<\/b><\/span><\/td>\n<td>\n<p data-path-to-node=\"39,2,1,0\">1980-1981\u5e74<\/p>\n<p><br data-path-to-node=\"39,2,1,1\" \/><\/p>\n<p data-path-to-node=\"39,2,1,2\">2022\u5e74<\/p>\n<\/td>\n<td><span data-path-to-node=\"39,2,2,0\">\u30a4\u30f3\u30d5\u30ec\u6025\u9a30\u3078\u306e\u5f8c\u624b\u5bfe\u5fdc\uff08\u30d3\u30cf\u30a4\u30f3\u30c9\u30fb\u30b6\u30fb\u30ab\u30fc\u30d6\uff09\u3002\u5927\u5e45\u5229\u4e0a\u3052\u306e\u9023\u767a\u3002<\/span><\/td>\n<td><span data-path-to-node=\"39,2,3,0\"><b data-path-to-node=\"39,2,3,0\" data-index-in-node=\"0\">\u5927\u5e45\u4e0b\u843d<\/b>\uff08\u5f31\u6c17\u76f8\u5834\u5165\u308a\u3001\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u6025\u7e2e\u5c0f\uff09<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"39,3,0,0\"><b data-path-to-node=\"39,3,0,0\" data-index-in-node=\"0\">3. \u5229\u4e0a\u3052\u6700\u7d42\u5c40\u9762\u301c\u636e\u3048\u7f6e\u304d<\/b><\/span><\/td>\n<td>\n<p data-path-to-node=\"39,3,1,0\">2018-2019\u5e74<\/p>\n<p><br data-path-to-node=\"39,3,1,1\" \/><\/p>\n<p data-path-to-node=\"39,3,1,2\">2023\u5e74<\/p>\n<\/td>\n<td><span data-path-to-node=\"39,3,2,0\">\u91d1\u5229\u5230\u9054\u70b9\u306e\u898b\u6975\u3081\u3068\u65b9\u91dd\u8ee2\u63db\uff08\u30d4\u30dc\u30c3\u30c8\uff09\u3002\u4e0d\u78ba\u5b9f\u6027\u306e\u6255\u62ed\u3002<\/span><\/td>\n<td><span data-path-to-node=\"39,3,3,0\"><b data-path-to-node=\"39,3,3,0\" data-index-in-node=\"0\">V\u5b57\u56de\u5fa9\u30fb\u9ad8\u5024\u66f4\u65b0<\/b><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3 data-path-to-node=\"40\">3.1 \u30d1\u30bf\u30fc\u30f31\uff1a\u696d\u7e3e\u76f8\u5834\u30fb\u30bd\u30d5\u30c8\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u578b\uff08\u682a\u4fa1\u4e0a\u6607\uff09<\/h3>\n<p data-path-to-node=\"41\">\u666f\u6c17\u304c\u5805\u8abf\u306b\u62e1\u5927\u3057\u3066\u3044\u308b\u4e2d\u3067\u3001FRB\u304c\u7d4c\u6e08\u306e\u30aa\u30fc\u30d0\u30fc\u30d2\u30fc\u30c8\uff08\u904e\u71b1\uff09\u3084\u5c06\u6765\u7684\u306a\u30a4\u30f3\u30d5\u30ec\u3092\u672a\u7136\u306b\u9632\u3050\u305f\u3081\u306b\u5b9f\u65bd\u3059\u308b\u300c\u4e88\u9632\u7684\u5229\u4e0a\u3052\u300d\u306e\u5c40\u9762\u3067\u3059\u3002<\/p>\n<h4 data-path-to-node=\"42\">\u3010\u4e8b\u4f8b\uff1a1994\u5e74\u301c1995\u5e74\uff08\u30b0\u30ea\u30fc\u30f3\u30b9\u30d1\u30f3\u306e\u4e88\u9632\u7684\u5229\u4e0a\u3052\uff09\u3011<\/h4>\n<p data-path-to-node=\"43\">\u30a2\u30e9\u30f3\u30fb\u30b0\u30ea\u30fc\u30f3\u30b9\u30d1\u30f3FRB\u8b70\u9577\uff08\u5f53\u6642\uff09\u306f\u3001\u76ee\u7acb\u3063\u305f\u30a4\u30f3\u30d5\u30ec\u304c\u8868\u9762\u5316\u3059\u308b\u524d\u306b\u653f\u7b56\u91d1\u5229\u30921\u5e74\u9593\u30673.0%\u304b\u30896.0%\u3078\u3068\u4e00\u6c17\u306b\u500d\u5897\u3055\u305b\u307e\u3057\u305f\u3002\u5229\u4e0a\u3052\u306e\u521d\u671f\u6bb5\u968e\u3067\u306f\u5e02\u5834\u306b\u52d5\u63fa\u304c\u8d70\u308a\u3001\u682a\u4fa1\u306f\u4e00\u6642\u7684\u306b\u8db3\u8e0f\u307f\u30fb\u5fae\u6e1b\u3068\u306a\u308a\u307e\u3057\u305f\u304c\u3001\u7d50\u679c\u3068\u3057\u3066FRB\u306f\u666f\u6c17\u5f8c\u9000\u3092\u8d77\u3053\u3055\u305a\u306b\u30a4\u30f3\u30d5\u30ec\u3092\u6291\u3048\u8fbc\u3080\u300c\u30bd\u30d5\u30c8\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u300d\u306b\u6210\u529f\u3057\u307e\u3057\u305f\u3002\u4e0d\u78ba\u5b9f\u6027\u304c\u6d88\u3048\u53bb\u3063\u305f1995\u5e74\u3001S&amp;P 500\u306f\u5e74\u9593\u306730%\u3092\u8d85\u3048\u308b\u5927\u66b4\u9a30\u3092\u8a18\u9332\u3057\u3001\u305d\u306e\u5f8c\u306e1990\u5e74\u4ee3\u5f8c\u534a\u306e\u8d85\u5927\u578b\u5f37\u6c17\u76f8\u5834\uff08IT\u30d0\u30d6\u30eb\u671f\uff09\u3078\u3068\u63a5\u7d9a\u3055\u308c\u307e\u3057\u305f\u3002<\/p>\n<h4 data-path-to-node=\"44\">\u3010\u4e8b\u4f8b\uff1a2004\u5e74\u301c2006\u5e74\uff08\u6bb5\u968e\u7684\u30fb\u614e\u91cd\u306a\u5229\u4e0a\u3052\uff09\u3011<\/h4>\n<p data-path-to-node=\"45\">IT\u30d0\u30d6\u30eb\u5d29\u58ca\u5f8c\u306e\u8d85\u4f4e\u91d1\u5229\u653f\u7b56\u304b\u3089\u8131\u5374\u3059\u308b\u305f\u3081\u3001FRB\u306f\u653f\u7b56\u91d1\u5229\u30921.0%\u304b\u30895.25%\u307e\u3067\u3001\u6bce\u56de\u306eFOMC\u306725bp\uff080.25%\uff09\u305a\u3064\u8a0817\u56de\u306b\u308f\u305f\u3063\u3066\u898f\u5247\u6b63\u3057\u304f\u5f15\u304d\u4e0a\u3052\u307e\u3057\u305f\u3002\u4e88\u898b\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u5229\u4e0a\u3052\u3067\u3042\u3063\u305f\u3053\u3068\u3001\u305d\u3057\u3066\u4f4f\u5b85\u5e02\u5834\u3084\u4e16\u754c\u7d4c\u6e08\u306e\u62e1\u5927\u306b\u4f34\u3063\u3066\u4f01\u696d\u696d\u7e3e\u304c\u975e\u5e38\u306b\u5f37\u56fa\u3067\u3042\u3063\u305f\u3053\u3068\u304b\u3089\u3001\u5229\u4e0a\u3052\u671f\u9593\u3092\u901a\u3058\u3066\u682a\u4fa1\u6307\u6570\u306f\u4e00\u8cab\u3057\u3066\u4e0a\u6607\u30c8\u30ec\u30f3\u30c9\u3092\u7dad\u6301\u3057\u307e\u3057\u305f\u3002<\/p>\n<h3 data-path-to-node=\"46\">3.2 \u30d1\u30bf\u30fc\u30f32\uff1a\u30a4\u30f3\u30d5\u30ec\u30b7\u30e7\u30c3\u30af\u30fb\u6025\u52a0\u901f\u578b\uff08\u682a\u4fa1\u4e0b\u843d\uff09<\/h3>\n<p data-path-to-node=\"47\">\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u4e8b\u524d\u4e88\u6e2c\u3092\u5927\u5e45\u306b\u4e0a\u56de\u3063\u3066\u66b4\u8d70\u3057\u3001FRB\u304c\u5f8c\u624b\uff08\u30d3\u30cf\u30a4\u30f3\u30c9\u30fb\u30b6\u30fb\u30ab\u30fc\u30d6\uff09\u306b\u56de\u3063\u305f\u7d50\u679c\u3001\u666f\u6c17\u914d\u616e\u3092\u6368\u3066\u3066\u6025\u901f\u304b\u3064\u5927\u5e45\u306a\u5f15\u304d\u7de0\u3081\u3092\u5f37\u884c\u3059\u308b\u5c40\u9762\u3067\u3059\u3002<\/p>\n<h4 data-path-to-node=\"48\">\u3010\u4e8b\u4f8b\uff1a2022\u5e74\uff0840\u5e74\u3076\u308a\u306e\u6025\u6fc0\u306a\u30a4\u30f3\u30d5\u30ec\u30680.75%\u5229\u4e0a\u3052\u306e\u9023\u767a\uff09\u3011<\/h4>\n<p data-path-to-node=\"49\">\u30b3\u30ed\u30ca\u798d\u5f8c\u306e\u5927\u898f\u6a21\u306a\u8ca1\u653f\u30fb\u91d1\u878d\u523a\u6fc0\u3001\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u306e\u65ad\u7d76\u3001\u30ed\u30b7\u30a2\u30fb\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2\u306b\u4f34\u3046\u8cc7\u6e90\u4fa1\u683c\u9ad8\u9a30\u304c\u91cd\u306a\u308a\u3001\u7c73\u56fd\u306eCPI\u306f40\u5e74\u3076\u308a\u306e\u9ad8\u6c34\u6e96\u3068\u306a\u308b9%\u53f0\u3078\u9054\u3057\u307e\u3057\u305f\u3002FRB\u306f\u653f\u7b56\u5224\u65ad\u306e\u9045\u308c\u3092\u53d6\u308a\u623b\u3059\u3079\u304f\u3001\u901a\u5e3825bp\u3067\u3042\u308b\u5229\u4e0a\u3052\u5e45\u309275bp\uff080.75%\uff09\u3068\u3044\u3046\u7570\u4f8b\u306e\u30da\u30fc\u30b9\u30674\u56de\u9023\u7d9a\u3067\u5f15\u304d\u4e0a\u3052\u308b\u306a\u3069\u3001\u731b\u70c8\u306a\u30b9\u30d4\u30fc\u30c9\u3067\u91d1\u5229\u3092\u5f15\u304d\u4e0a\u3052\u307e\u3057\u305f\u3002<\/p>\n<p data-path-to-node=\"49\">\u91d1\u5229\u306e\u6025\u9a30\u306f\u9ad8\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u306e\u30cf\u30a4\u30c6\u30af\u9298\u67c4\u3092\u4e2d\u5fc3\u306b\u76f4\u6483\u3057\u30012022\u5e74\u306eS&amp;P 500\u306f\u5e74\u521d\u6765\u3067\u6700\u5927\u7d0425%\u4e0b\u843d\u3001Nasdaq\u306b\u81f3\u3063\u3066\u306f30%\u4ee5\u4e0a\u306e\u4e0b\u843d\u3092\u8a18\u9332\u3057\u3066\u5b8c\u5168\u306a\u5f31\u6c17\u76f8\u5834\uff08\u30d9\u30a2\u30de\u30fc\u30b1\u30c3\u30c8\uff09\u3078\u3068\u7a81\u5165\u3057\u307e\u3057\u305f\u3002<\/p>\n<h4 data-path-to-node=\"50\">\u3010\u4e8b\u4f8b\uff1a1980\u5e74\u301c1981\u5e74\uff08\u30dc\u30eb\u30ab\u30fc\u30fb\u30b7\u30e7\u30c3\u30af\uff09\u3011<\/h4>\n<p data-path-to-node=\"51\">\u30dd\u30fc\u30eb\u30fb\u30dc\u30eb\u30ab\u30fcFRB\u8b70\u9577\uff08\u5f53\u6642\uff09\u306f\u30011970\u5e74\u4ee3\u304b\u3089\u7d9a\u304f\u7c98\u7740\u7684\u306a\u30cf\u30a4\u30d1\u30fc\u30a4\u30f3\u30d5\u30ec\u3092\u6839\u7d76\u3059\u308b\u305f\u3081\u3001\u653f\u7b56\u91d1\u5229\u3092\u4e00\u664220%\u8fd1\u304f\u307e\u3067\u5f15\u304d\u4e0a\u3052\u307e\u3057\u305f\u3002\u3053\u308c\u306b\u3088\u308a\u30a4\u30f3\u30d5\u30ec\u306f\u6291\u5727\u3055\u308c\u305f\u3082\u306e\u306e\u3001\u6df1\u523b\u306a\u666f\u6c17\u5f8c\u9000\uff08\u30c0\u30d6\u30eb\u30c7\u30a3\u30c3\u30d7\u30fb\u30ec\u30bb\u30c3\u30b7\u30e7\u30f3\uff09\u304c\u5f15\u304d\u8d77\u3053\u3055\u308c\u3001\u682a\u5f0f\u5e02\u5834\u3082\u9577\u671f\u306b\u308f\u305f\u3063\u3066\u4f4e\u8ff7\u30fb\u8ff7\u8d70\u3092\u4f59\u5100\u306a\u304f\u3055\u308c\u307e\u3057\u305f\u3002<\/p>\n<h3 data-path-to-node=\"52\">3.3 \u30d1\u30bf\u30fc\u30f33\uff1a\u5229\u4e0a\u3052\u306e\u7d42\u7740\u70b9\u3068\u653f\u7b56\u8ee2\u63db\uff08\u30d4\u30dc\u30c3\u30c8\uff09\u5c40\u9762<\/h3>\n<p data-path-to-node=\"53\">\u91d1\u5229\u5f15\u304d\u4e0a\u3052\u306e\u30b5\u30a4\u30af\u30eb\u304c\u6700\u7d42\u76e4\u306b\u5dee\u3057\u639b\u304b\u308a\u3001FRB\u304c\u300c\u5229\u4e0a\u3052\u306e\u505c\u6b62\u300d\u3092\u6253\u8a3a\u3001\u3042\u308b\u3044\u306f\u5c06\u6765\u7684\u306a\u300c\u5229\u4e0b\u3052\uff08\u30d4\u30dc\u30c3\u30c8\uff09\u300d\u3078\u8235\u3092\u5207\u308b\u5c40\u9762\u3067\u3059\u3002<\/p>\n<h4 data-path-to-node=\"54\">\u3010\u4e8b\u4f8b\uff1a2018\u5e74\u672b\u301c2019\u5e74\u3011<\/h4>\n<p data-path-to-node=\"55\">2018\u5e74\u3001FRB\u306f\u5229\u4e0a\u3052\u3068\u8cc7\u7523\u5727\u7e2e\uff08QT\uff09\u3092\u63a8\u3057\u9032\u3081\u307e\u3057\u305f\u304c\u3001\u540c\u5e7412\u6708\u306b\u5e02\u5834\u304c\u300c\u653f\u7b56\u306e\u884c\u304d\u904e\u304e\u306b\u3088\u308b\u666f\u6c17\u5931\u901f\u300d\u3092\u61f8\u5ff5\u3057\u3001\u682a\u4fa1\u304c\u6025\u843d\u3059\u308b\u300c\u30af\u30ea\u30b9\u30de\u30b9\u30fb\u30af\u30e9\u30c3\u30b7\u30e5\u300d\u304c\u767a\u751f\u3057\u307e\u3057\u305f\u3002\u3053\u308c\u3092\u53d7\u3051\u305f\u30d1\u30a6\u30a8\u30ebFRB\u8b70\u9577\u306f\u30012019\u5e74\u521d\u982d\u306b\u5229\u4e0a\u3052\u59ff\u52e2\u3092\u64a4\u56de\uff08\u30d1\u30a6\u30a8\u30eb\u30fb\u30d4\u30dc\u30c3\u30c8\uff09\u3057\u3001\u636e\u3048\u7f6e\u304d\u304b\u3089\u5229\u4e0b\u3052\u3078\u3068\u8ee2\u63db\u3057\u307e\u3057\u305f\u3002\u3053\u306e\u65b9\u91dd\u8ee2\u63db\u3092\u5408\u56f3\u306b\u3001\u682a\u4fa1\u306f\u6025\u53cd\u767a\uff08V\u5b57\u56de\u5fa9\uff09\u3092\u898b\u305b\u307e\u3057\u305f\u3002<\/p>\n<div class=\"xcd-attention-1 xcd-col2 xcd-ripple\">\n<div class=\"xcd-title\"><strong>\u8cc7\u7523\u904b\u7528\u3067\u5931\u6557\u3057\u305f\u304f\u306a\u3044\u65b9\u3078<\/strong><\/div>\n<div class=\"xcd-content\"><strong>\u79c1\u305f\u3061GFS\u3067\u306f\u3001\u5b66\u6821\u3067\u306f\u6559\u3048\u3066\u3082\u3089\u3048\u306a\u304b\u3063\u305f\u304a\u91d1\u306e\u3053\u3068\u304c\u308f\u304b\u308b\u7121\u6599\u30b3\u30f3\u30c6\u30f3\u30c4\u3092\u3054\u7528\u610f\u3057\u3066\u3044\u307e\u3059\u3002<\/strong><br \/>\n<strong><span style=\"color: #0066c0;\"><a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=article&amp;utm_medium=cta&amp;utm_content=ueoka\" style=\"color: #0066c0;\">\u226b \u7121\u6599\u8b1b\u5ea7\uff1a\u304a\u91d1\u306e\u30d7\u30ed\u304c\u6559\u3048\u308b\u300c\u521d\u5fc3\u8005\u304c\u6bce\u6708\u53ce\u5165\u3092\u5f97\u308b\u6295\u8cc7\u306e\u59cb\u3081\u65b9\u300d<\/a><\/span><\/strong><\/div>\n<\/div>\n<h1 data-path-to-node=\"57\">\u7b2c4\u7ae0 \u7c73\u56fd\u7d4c\u6e08\u306b\u304a\u3051\u308b\u30ea\u30bb\u30c3\u30b7\u30e7\u30f3\uff08\u666f\u6c17\u5f8c\u9000\uff09\u30ea\u30b9\u30af\u306e\u591a\u89d2\u691c\u8a3c<\/h1>\n<p data-path-to-node=\"58\">\u300c\u5229\u4e0a\u3052\u61f8\u5ff5\u304c\u3042\u3063\u3066\u3082\u682a\u4fa1\u304c\u4e0a\u304c\u308b\u300d\u3068\u3044\u3046\u73fe\u5728\u306e\u5e02\u5834\u74b0\u5883\u304c\u7dad\u6301\u3055\u308c\u308b\u304b\u3001\u305d\u308c\u3068\u3082\u300c\u682a\u4fa1\u6025\u843d\u300d\u3078\u8ee2\u63db\u3059\u308b\u304b\u3092\u6c7a\u3081\u308b\u6700\u5927\u306e\u5206\u304b\u308c\u9053\u306f\u3001\u300c\u7c73\u56fd\u7d4c\u6e08\u304c\u6700\u7d42\u7684\u306b\u30ea\u30bb\u30c3\u30b7\u30e7\u30f3\uff08\u666f\u6c17\u5f8c\u9000\uff09\u306b\u9665\u308b\u304b\u5426\u304b\u300d\u3068\u3044\u3046\u70b9\u3067\u3059\u3002<\/p>\n<p data-path-to-node=\"59\">\u73fe\u6642\u70b9\u306b\u304a\u3051\u308b\u5404\u7a2e\u7d4c\u6e08\u6307\u6a19\u3084\u69cb\u9020\u7684\u5206\u6790\u3092\u7dcf\u5408\u3059\u308b\u3068\u3001\u7c73\u56fd\u7d4c\u6e08\u304c\u76f4\u3061\u306b\u672c\u683c\u7684\u306a\u30ea\u30bb\u30c3\u30b7\u30e7\u30f3\u3078\u7a81\u5165\u3059\u308b\u660e\u3089\u304b\u306a\u6c17\u914d\uff08\u4e0d\u5409\u306a\u30b7\u30b0\u30ca\u30eb\uff09\u306f\u6975\u3081\u3066\u4e4f\u3057\u3044\u3068\u3044\u3046\u306e\u304c\u5ba2\u89b3\u7684\u306a\u898b\u89e3\u3067\u3059\u3002\u3057\u304b\u3057\u4e00\u65b9\u3067\u3001\u9ad8\u91d1\u5229\u306e\u9577\u671f\u5316\u306b\u4f34\u3046\u6f5c\u5728\u7684\u306a\u6b6a\u307f\uff08\u4e0b\u632f\u308c\u30ea\u30b9\u30af\uff09\u3082\u78ba\u5b9f\u306b\u84c4\u7a4d\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<h3 data-path-to-node=\"60\">4.1 \u30ea\u30bb\u30c3\u30b7\u30e7\u30f3\u3092\u5426\u5b9a\u3059\u308b\u5f37\u529b\u306a\u30de\u30af\u30ed\u7d4c\u6e08\u6307\u6a19\uff08\u5f37\u307f\uff09<\/h3>\n<p data-path-to-node=\"61\">\u73fe\u5728\u306e\u7d4c\u6e08\u304c\u975e\u5e38\u306b\u529b\u5f37\u304f\u3001\u30ea\u30bb\u30c3\u30b7\u30e7\u30f3\u304b\u3089\u9060\u3044\u4f4d\u7f6e\u306b\u3042\u308b\u3053\u3068\u3092\u793a\u3059\u6307\u6a19\u306f\u4ee5\u4e0b\u306e\u901a\u308a\u3067\u3059\u3002<\/p>\n<h4 data-path-to-node=\"62\">\u2460 \u52b4\u50cd\u5e02\u5834\u306e\u69cb\u9020\u7684\u306a\u5f37\u3055\u3068\u4f4e\u3044\u5931\u696d\u7387<\/h4>\n<p data-path-to-node=\"63\">\u30ea\u30bb\u30c3\u30b7\u30e7\u30f3\u306e\u5b9a\u7fa9\u306b\u304a\u3044\u3066\u6700\u3082\u91cd\u8981\u306a\u8981\u7d20\u306f\u300c\u5931\u696d\u7387\u306e\u6025\u5897\u300d\u3068\u300c\u96c7\u7528\u306e\u7e2e\u5c0f\u300d\u3067\u3059\u3002\u3057\u304b\u3057\u3001\u7c73\u56fd\u306e\u52b4\u50cd\u5e02\u5834\u306f\u4f9d\u7136\u3068\u3057\u3066\u5931\u696d\u7387\u304c\u4f4e\u6c34\u6e96\u306b\u6291\u3048\u3089\u308c\u3066\u304a\u308a\u3001\u65b0\u898f\u5931\u696d\u4fdd\u967a\u7533\u8acb\u4ef6\u6570\u3082\u5b89\u5b9a\u63a8\u79fb\u3057\u3066\u3044\u307e\u3059\u3002\u89e3\u96c7\u304c\u6025\u5897\u3057\u3066\u3044\u306a\u3044\u3068\u3044\u3046\u4e8b\u5b9f\u306f\u3001\u5bb6\u8a08\u306e\u53ce\u5165\u4fdd\u969c\u3068\u6d88\u8cbb\u610f\u6b32\u306e\u7dad\u6301\u306b\u76f4\u7d50\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<h4 data-path-to-node=\"64\">\u2461 \u7d4c\u6e08\u306e7\u5272\u3092\u5360\u3081\u308b\u500b\u4eba\u6d88\u8cbb\u306e\u7c98\u308a\u5f37\u3055<\/h4>\n<p data-path-to-node=\"65\">\u7c73\u56fd\u7d4c\u6e08\u306e\u727d\u5f15\u5f79\u3067\u3042\u308b\u500b\u4eba\u6d88\u8cbb\u306f\u3001\u7269\u4fa1\u9ad8\u3084\u9ad8\u91d1\u5229\u306e\u8ca0\u8377\u304c\u304b\u304b\u3063\u3066\u3044\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u5b9f\u8cea\u30d9\u30fc\u30b9\u3067\u30d7\u30e9\u30b9\u6210\u9577\u3092\u7dad\u6301\u3057\u3066\u3044\u307e\u3059\u3002\u5805\u8abf\u306a\u8cc3\u91d1\u4f38\u3073\u7387\u3068\u3001\u30b3\u30ed\u30ca\u798d\u4ee5\u964d\u306e\u5bb6\u8a08\u306e\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\uff08\u8cc7\u7523\u30fb\u8ca0\u50b5\u69cb\u9020\uff09\u306e\u5065\u5168\u6027\u304c\u6d88\u8cbb\u3092\u652f\u3048\u308b\u30af\u30c3\u30b7\u30e7\u30f3\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<h4 data-path-to-node=\"66\">\u2462 \u69cb\u9020\u7684\u5909\u5316\u3092\u3082\u305f\u3089\u3059\u8a2d\u5099\u6295\u8cc7\u30b5\u30a4\u30af\u30eb<\/h4>\n<p data-path-to-node=\"67\">\u524d\u8ff0\u306e\u901a\u308a\u3001AI\u30fb\u534a\u5c0e\u4f53\u30fb\u30af\u30ea\u30fc\u30f3\u30a8\u30cd\u30eb\u30ae\u30fc\u30fb\u81ea\u56fd\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u56de\u5e30\uff08\u30aa\u30f3\u30b7\u30e7\u30a2\u30ea\u30f3\u30b0\uff09\u306b\u5411\u3051\u305f\u6c11\u9593\u304a\u3088\u3073\u653f\u5e9c\u306e\u6295\u8cc7\u610f\u6b32\u304c\u975e\u5e38\u306b\u9ad8\u304f\u3001\u3053\u308c\u304c\u5f93\u6765\u306e\u5229\u4e0a\u3052\u306b\u3088\u308b\u300c\u8cc7\u672c\u30b3\u30b9\u30c8\u5897\u52a0\u306b\u4f34\u3046\u8a2d\u5099\u6295\u8cc7\u306e\u6e1b\u901f\u300d\u3068\u3044\u3046\u6559\u79d1\u66f8\u7684\u30d1\u30bf\u30fc\u30f3\u3092\u76f8\u6bba\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-557 enable-luminous-code-block ng-star-inserted\"><\/code-block><\/response-element><\/p>\n<div _ngcontent-ng-c3974374368=\"\" class=\"code-block ng-tns-c3974374368-557 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:W1sicl81MWZmZmU3ODA1NjNlNWE0IiwiY181ODE0OGI2ZDgwNzIxMDEzIixudWxsLCJyY19mZWZhYWIxMWFhNjYyMTgyIixudWxsLG51bGwsImphIixudWxsLDEsbnVsbCxudWxsLDEsMF1d\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"formatted-code-block-internal-container ng-tns-c3974374368-557\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"animated-opacity ng-tns-c3974374368-557\">\n<pre _ngcontent-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-557\"><code _ngcontent-ng-c3974374368=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3974374368-557 no-decoration-radius\">\u3010\u30ea\u30bb\u30c3\u30b7\u30e7\u30f3\u8a55\u4fa1\u306e\u5b9a\u6027\u69cb\u9020\u3011\r\n\r\n\u30ea\u30bb\u30c3\u30b7\u30e7\u30f3\u5426\u5b9a\u8981\u56e0\uff08\u5f37\u307f\uff09:\r\n\u30fb\u6b74\u53f2\u7684\u306b\u4f4e\u3044\u5931\u696d\u7387\u3068\u5b89\u5b9a\u3057\u305f\u96c7\u7528\r\n\u30fb\u500b\u4eba\u6d88\u8cbb\uff08GDP\u306e7\u5272\uff09\u306e\u5805\u8abf\u306a\u63a8\u79fb\r\n\u30fbAI\u30fb\u534a\u5c0e\u4f53\u306a\u3069\u306e\u5de8\u5927\u8a2d\u5099\u6295\u8cc7\r\n\r\n\u30ea\u30bb\u30c3\u30b7\u30e7\u30f3\u61f8\u5ff5\u8981\u56e0\uff08\u6f5c\u5728\u30ea\u30b9\u30af\uff09:\r\n\u30fb\u9ad8\u91d1\u5229\u306e\u9577\u671f\u5316\uff08\u30e9\u30b0\u3092\u4f34\u3046\u9045\u5ef6\u52b9\u679c\uff09\r\n\u30fb\u539f\u6cb9\u9ad8\u30fb\u5730\u653f\u5b66\u30ea\u30b9\u30af\u306b\u3088\u308b\u30a4\u30f3\u30d5\u30ec\u518d\u71c3\r\n\u30fb\u4f4e\u6240\u5f97\u5c64\u3092\u4e2d\u5fc3\u3068\u3057\u305f\u30af\u30ec\u30b8\u30c3\u30c8\u30ab\u30fc\u30c9\u5ef6\u6ede\u7387\u306e\u4e0a\u6607\uff08\u6d88\u8cbb\u306e\u4e8c\u6975\u5316\uff09\r\n<\/code><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<h3 data-path-to-node=\"69\">4.2 \u6f5c\u5728\u3059\u308b\u666f\u6c17\u5f8c\u9000\u30ea\u30b9\u30af\u3068\u8b66\u6212\u3059\u3079\u304d\u69cb\u9020\u7684\u5909\u5316\uff08\u5f31\u70b9\uff09<\/h3>\n<p data-path-to-node=\"70\">\u4e00\u65b9\u3067\u3001\u697d\u89b3\u8ad6\u3060\u3051\u306b\u50be\u5012\u3067\u304d\u306a\u3044\u300c\u6b6a\u307f\u300d\u3084\u300c\u30ea\u30b9\u30af\u8981\u56e0\u300d\u3082\u8db3\u5143\u3067\u78ba\u5b9f\u306b\u9032\u884c\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<h4 data-path-to-node=\"71\">\u2460 \u91d1\u5229\u5f15\u304d\u7de0\u3081\u306b\u3088\u308b\u300c\u30e9\u30b0\uff08\u9045\u5ef6\u52b9\u679c\uff09\u300d\u306e\u9732\u5448<\/h4>\n<p data-path-to-node=\"72\">\u91d1\u878d\u653f\u7b56\u306e\u52b9\u679c\u304c\u5b9f\u4f53\u7d4c\u6e08\u306b\u5b8c\u5168\u306b\u6ce2\u53ca\u3059\u308b\u306b\u306f12\u301c18\u30f6\u6708\u306e\u30bf\u30a4\u30e0\u30e9\u30b0\uff08\u30e9\u30b0\uff09\u304c\u5b58\u5728\u3059\u308b\u3068\u8a00\u308f\u308c\u307e\u3059\u3002\u91d1\u5229\u304c\u9ad8\u6c34\u6e96\u306b\u56fa\u5b9a\u3055\u308c\u308b\u671f\u9593\u304c\u9577\u304f\u306a\u308c\u3070\u306a\u308b\u307b\u3069\u3001\u5909\u52d5\u91d1\u5229\u3067\u501f\u5165\u3092\u884c\u3063\u3066\u3044\u308b\u4e2d\u5c0f\u4f01\u696d\u3084\u3001\u5546\u696d\u7528\u4e0d\u52d5\u7523\uff08CRE\uff09\u306e\u501f\u308a\u63db\u3048\u3001\u30ed\u30fc\u30f3\u3092\u62b1\u3048\u308b\u5bb6\u5ead\u306e\u8ca1\u52d9\u8ca0\u62c5\u304c\u5f90\u3005\u306b\u91cd\u304f\u306a\u308a\u307e\u3059\u3002\u3053\u308c\u304c\u9650\u754c\u306b\u9054\u3057\u305f\u6642\u3001\u4fe1\u7528\u53ce\u7e2e\uff08\u30af\u30ec\u30c7\u30a3\u30c3\u30c8\u30fb\u30af\u30e9\u30f3\u30c1\uff09\u304c\u8d77\u304d\u308b\u30ea\u30b9\u30af\u306f\u30bc\u30ed\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n<h4 data-path-to-node=\"73\">\u2461 \u6d88\u8cbb\u306e\u4e8c\u6975\u5316\uff08K\u5b57\u578b\u7d4c\u6e08\uff09\u3068\u30af\u30ec\u30b8\u30c3\u30c8\u5ef6\u6ede<\/h4>\n<p data-path-to-node=\"74\">\u500b\u4eba\u6d88\u8cbb\u5168\u4f53\u306f\u5f37\u304f\u898b\u3048\u307e\u3059\u304c\u3001\u5185\u5b9f\u3092\u7cbe\u67fb\u3059\u308b\u3068\u300c\u4e8c\u6975\u5316\uff08K\u5b57\u56de\u5fa9\u30fb\u4e56\u96e2\uff09\u300d\u304c\u9032\u884c\u3057\u3066\u3044\u307e\u3059\u3002\u682a\u9ad8\u3084\u4f4f\u5b85\u4fa1\u683c\u4e0a\u6607\u306e\u6069\u6075\u3092\u53d7\u3051\u308b\u9ad8\u6240\u5f97\u5c64\u30fb\u8cc7\u7523\u4fdd\u6709\u5c64\u304c\u6d88\u8cbb\u3092\u62bc\u3057\u4e0a\u3052\u3066\u3044\u308b\u4e00\u65b9\u3001\u8cc7\u7523\u3092\u6301\u305f\u306a\u3044\u4f4e\u6240\u5f97\u5c64\u3084\u82e5\u5e74\u5c64\u3067\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u3068\u9ad8\u91d1\u5229\u306e\u30c0\u30d6\u30eb\u30d1\u30f3\u30c1\u306b\u3088\u308a\u8caf\u84c4\u304c\u67af\u6e07\u3057\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u30ab\u30fc\u30c9\u3084\u81ea\u52d5\u8eca\u30ed\u30fc\u30f3\u306e\u5ef6\u6ede\u7387\u304c\u6025\u4e0a\u6607\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u5c64\u306e\u6d88\u8cbb\u75b2\u5f0a\u304c\u4e2d\u6240\u5f97\u5c64\u3078\u4f1d\u64ad\u3057\u305f\u5834\u5408\u3001\u6d88\u8cbb\u5168\u4f53\u304c\u5931\u901f\u3059\u308b\u6050\u308c\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<h4 data-path-to-node=\"75\">\u2462 \u300c\u30a4\u30f3\u30d5\u30ec\u518d\u71c3 \u2794 \u518d\u5229\u4e0a\u3052 \u2794 \u666f\u6c17\u7834\u7dbb\u300d\u306e\u6700\u60aa\u30b7\u30ca\u30ea\u30aa<\/h4>\n<p data-path-to-node=\"76\">\u6700\u3082\u8b66\u6212\u3055\u308c\u308b\u3079\u304d\u30b7\u30ca\u30ea\u30aa\u306f\u3001\u539f\u6cb9\u4fa1\u683c\u306e\u6025\u9a30\u3084\u4f9b\u7d66\u30b7\u30e7\u30c3\u30af\u306b\u3088\u3063\u3066\u30a4\u30f3\u30d5\u30ec\u304c\u518d\u71c3\u3057\u3001FRB\u304c\u666f\u6c17\u3092\u58ca\u3057\u3066\u3067\u3082\u30a4\u30f3\u30d5\u30ec\u3092\u6f70\u3059\u305f\u3081\u306b\u300c\u8ffd\u52a0\u5229\u4e0a\u3052\u300d\u3092\u4f59\u5100\u306a\u304f\u3055\u308c\u308b\u30d1\u30bf\u30fc\u30f3\u3067\u3059\u3002\u3053\u306e\u5834\u5408\u3001\u7d4c\u6e08\u306e\u300c\u30ce\u30fc\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u300d\u304b\u3089\u4e00\u8ee2\u3057\u3066\u300c\u30cf\u30fc\u30c9\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u300d\u3078\u3068\u6025\u964d\u4e0b\u3059\u308b\u30ea\u30b9\u30af\u304c\u751f\u3058\u307e\u3059\u3002<\/p>\n<h1 data-path-to-node=\"78\">\u7b2c5\u7ae0 \u7dcf\u62ec\uff1a\u6295\u8cc7\u5bb6\u304a\u3088\u3073\u5e02\u5834\u53c2\u52a0\u8005\u304c\u6ce8\u8996\u3059\u3079\u304d\u8996\u70b9<\/h1>\n<p data-path-to-node=\"79\">\u3053\u3053\u307e\u3067\u306e\u5206\u6790\u3092\u5305\u62ec\u3059\u308b\u3068\u3001\u73fe\u5728\u306e\u5e02\u5834\u74b0\u5883\u306f\u300c\u30a4\u30f3\u30d5\u30ec\u3068\u91d1\u5229\u4e0a\u6607\u306b\u5bfe\u3059\u308b\u61f8\u5ff5\u304c\u5e38\u306b\u5b58\u5728\u3059\u308b\u3082\u306e\u306e\u3001\u305d\u308c\u4ee5\u4e0a\u306b\u7c73\u56fd\u306e\u666f\u6c17\u57fa\u76e4\u3068\u4f01\u696d\u696d\u7e3e\uff08\u7279\u306bAI\u4e3b\u5c0e\u306e\u6210\u9577\uff09\u304c\u5f37\u529b\u3067\u3042\u308b\u305f\u3081\u3001\u682a\u5f0f\u5e02\u5834\u306f\u30ea\u30bb\u30c3\u30b7\u30e7\u30f3\u3092\u56de\u907f\u3057\u306a\u304c\u3089\u4e0a\u6607\u30c8\u30ec\u30f3\u30c9\u3092\u7dad\u6301\u3057\u3066\u3044\u308b\u300d\u3068\u3044\u3046\u69cb\u56f3\u3068\u3057\u3066\u89e3\u91c8\u3067\u304d\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"80\">\u4eca\u5f8c\u306e\u5e02\u5834\u306e\u65b9\u5411\u6027\u3001\u305d\u3057\u3066\u300c\u5229\u4e0a\u3052\u89b3\u6e2c\u300d\u3068\u300c\u682a\u4fa1\u300d\u306e\u5747\u8861\u304c\u5d29\u308c\u308b\u304b\u3069\u3046\u304b\u3092\u898b\u6975\u3081\u308b\u305f\u3081\u306b\u306f\u3001\u4ee5\u4e0b\u306e3\u3064\u306e\u6838\u5fc3\u7684\u30a2\u30d7\u30ed\u30fc\u30c1\u304c\u4e0d\u53ef\u6b20\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<h3 data-path-to-node=\"81\">5.1 \u7d4c\u6e08\u6307\u6a19\u306e\u30c1\u30a7\u30c3\u30af\u30dd\u30a4\u30f3\u30c8<\/h3>\n<ol start=\"1\" data-path-to-node=\"82\">\n<li>\n<p data-path-to-node=\"82,0,0\"><b data-path-to-node=\"82,0,0\" data-index-in-node=\"0\">CPI\uff08\u6d88\u8cbb\u8005\u7269\u4fa1\u6307\u6570\uff09\u304a\u3088\u3073PCE\u30c7\u30d5\u30ec\u30fc\u30bf\u30fc:<\/b> \u7279\u306b\u30a8\u30cd\u30eb\u30ae\u30fc\u3068\u98df\u54c1\u3092\u9664\u304f\u300c\u30b3\u30a2\u30a4\u30f3\u30d5\u30ec\u7387\u300d\u304a\u3088\u3073\u300c\u30b5\u30fc\u30d3\u30b9\u30a4\u30f3\u30d5\u30ec\u300d\u304c\u4f4e\u4e0b\u50be\u5411\u3092\u7dad\u6301\u3067\u304d\u308b\u304b\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"82,1,0\"><b data-path-to-node=\"82,1,0\" data-index-in-node=\"0\">\u96c7\u7528\u7d71\u8a08\uff08\u975e\u8fb2\u696d\u90e8\u9580\u96c7\u7528\u8005\u6570\u30fb\u5931\u696d\u7387\u30fb\u5e73\u5747\u6642\u7d66\uff09:<\/b> \u96c7\u7528\u304c\u904e\u71b1\u3057\u3059\u304e\u305a\u3001\u304b\u3064\u6025\u901f\u306b\u60aa\u5316\uff08\u5931\u696d\u73874.5%\u8d85\u306a\u3069\u3078\u306e\u6025\u4f38\uff09\u3057\u306a\u3044\u9069\u5ea6\u306a\u300c\u30b4\u30eb\u30c7\u30a3\u30ed\u30c3\u30af\u30b9\uff08\u9069\u6e29\uff09\u300d\u72b6\u614b\u3092\u4fdd\u3066\u308b\u304b\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"82,2,0\"><b data-path-to-node=\"82,2,0\" data-index-in-node=\"0\">\u539f\u6cb9\u4fa1\u683c\uff08WTI\u539f\u6cb9\u5148\u7269\uff09:<\/b> \u5730\u653f\u5b66\u7684\u30ea\u30b9\u30af\u306b\u4f34\u3046\u539f\u6cb9\u4fa1\u683c\u306e\u6025\u9a30\u304c\u3001\u30a4\u30f3\u30d5\u30ec\u30b7\u30ca\u30ea\u30aa\u3092\u72c2\u308f\u305b\u306a\u3044\u304b\u3002<\/p>\n<\/li>\n<\/ol>\n<h3 data-path-to-node=\"83\">5.2 \u91d1\u5229\u3068\u4f01\u696d\u696d\u7e3e\u306e\u300c\u529b\u6bd4\u3079\u300d\u306e\u8ffd\u8de1<\/h3>\n<p data-path-to-node=\"84\">\u91d1\u5229\u4e0a\u6607\u304c\u682a\u4fa1\u306e\u91cd\u3057\u3068\u306a\u308b\u304b\u5426\u304b\u306f\u3001\u5e38\u306b\u300c\u9577\u671f\u91d1\u5229\u306e\u6c34\u6e96\u300d\u3068\u300c\u4f01\u696d\u306eEPS\u6210\u9577\u7387\u300d\u306e\u76f8\u5bfe\u95a2\u4fc2\u3067\u6c7a\u307e\u308a\u307e\u3059\u300210\u5e74\u7269\u7c73\u56fd\u50b5\u5229\u56de\u308a\u304c\u904e\u5ea6\u306a\u9ad8\u6c34\u6e96\u3078\u8df3\u306d\u4e0a\u304c\u3063\u305f\u5834\u5408\u3001\u4f01\u696d\u306e\u682a\u4fa1\u53ce\u76ca\u7387\uff08PER\uff09\u306b\u5bfe\u3059\u308b\u4fee\u6b63\u5727\u529b\u304c\u5f37\u307e\u308a\u3001\u4e00\u6642\u7684\u306a\u682a\u5f0f\u5e02\u5834\u306e\u5927\u5e45\u8abf\u6574\u3092\u5f15\u304d\u8d77\u3053\u3059\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002\u6295\u8cc7\u5bb6\u306f\u3001\u5358\u306b\u91d1\u5229\u306e\u4e0a\u4e0b\u3060\u3051\u3067\u306a\u304f\u3001\u300c\u305d\u306e\u91d1\u5229\u6c34\u6e96\u3092\u4e0a\u56de\u308b\u6210\u9577\u3092\u4f01\u696d\u304c\u793a\u305b\u3066\u3044\u308b\u304b\u300d\u3092\u5404\u6c7a\u7b97\u30b7\u30fc\u30ba\u30f3\u3054\u3068\u306b\u53b3\u5bc6\u306b\u8a55\u4fa1\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"85\">\u7d50\u8ad6\u3068\u3057\u3066\u3001\u6b74\u53f2\u7684\u306a\u30d1\u30bf\u30fc\u30f3\u304c\u793a\u3059\u901a\u308a\u3001<b data-path-to-node=\"85\" data-index-in-node=\"20\">\u300c\u5229\u4e0a\u3052\uff1d\u5373\u682a\u5b89\u30fb\u5373\u30ec\u30bb\u30c3\u30b7\u30e7\u30f3\u300d\u3068\u3044\u3046\u5358\u7d14\u306a\u65b9\u7a0b\u5f0f\u306f\u6210\u308a\u7acb\u3061\u307e\u305b\u3093\u3002<\/b> \u91cd\u8981\u306a\u306e\u306f\u91d1\u5229\u305d\u306e\u3082\u306e\u3067\u306f\u306a\u304f\u3001\u91d1\u5229\u306e\u80cc\u666f\u306b\u3042\u308b\u300c\u7d4c\u6e08\u306e\u5065\u5168\u6027\u300d\u3068\u300c\u4f01\u696d\u306e\u53ce\u76ca\u529b\u300d\u3067\u3059\u3002\u8db3\u5143\u3067\u30ea\u30bb\u30c3\u30b7\u30e7\u30f3\u306e\u6c17\u914d\u306f\u4e4f\u3057\u3044\u3082\u306e\u306e\u3001\u9ad8\u91d1\u5229\u306e\u9045\u5ef6\u52b9\u679c\u3084\u5730\u653f\u5b66\u30ea\u30b9\u30af\u306b\u3088\u308b\u30a4\u30f3\u30d5\u30ec\u518d\u71c3\u306e\u53ef\u80fd\u6027\u3092\u7d76\u3048\u305a\u76e3\u8996\u3057\u3064\u3064\u3001\u76f8\u5834\u306e\u69cb\u9020\u5909\u5316\u306b\u5bfe\u5fdc\u3057\u3066\u3044\u304f\u3053\u3068\u304c\u6c42\u3081\u3089\u308c\u307e\u3059\u3002<\/p>\n<div><\/div>\n<div class=\"xcd-attention-8 xcd-col5 xcd-ripple\">\n<div class=\"xcd-title\"><span style=\"font-size: 18pt;\">\u30d7\u30ed\u306e\u77e5\u8b58\u304c\u7121\u6599\u3067\u5b66\u3079\u307e\u3059<\/span><\/div>\n<div class=\"xcd-content\">\n<p><span style=\"font-size: 14pt;\"><strong>\u300c\u6295\u8cc7\u306e\u52c9\u5f37\u3092\u4f55\u304b\u3089\u3084\u3063\u3066\u3044\u3044\u304b\u308f\u304b\u3089\u306a\u3044\u300d\u300c\u6295\u8cc7\u3067\u8cc7\u7523\u3092\u4f5c\u308a\u305f\u3044\u3001\u53ce\u5165\u3092\u5897\u3084\u3057\u305f\u3044\u300d<\/strong><\/span><\/p>\n<p>\u305d\u3093\u306a\u6642\u306f<b><span class=\"f-marker-p\">\u7121\u6599\u3067\u8996\u8074\u3067\u304d\u308b\u30aa\u30f3\u30e9\u30a4\u30f3\u8b1b\u5ea7\u300c<a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=article&amp;utm_medium=cta&amp;utm_content=ueoka\">GFS\u76e3\u4fee \u6295\u8cc7\u306e\u9054\u4eba\u8b1b\u5ea7<\/a>\u300d\u3092\u307e\u305a\u306f\u304a\u8a66\u3057\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/span><\/b><\/p>\n<p>\u6295\u8cc7\u306e\u9054\u4eba\u306b\u306a\u308b\u6295\u8cc7\u8b1b\u5ea7\u306f\u3001\u751f\u5f92\u657050,000\u4eba\u3092\u8d85\u3048\u8b1b\u7fa9\u6570\u65e5\u672c\u4e00\u306e\u6295\u8cc7\u30b9\u30af\u30fc\u30eb<a href=\"https:\/\/gfs.tokyo\/\">GFS<\/a>\u304c\u63d0\u4f9b\u3059\u308b\u7121\u6599\u30aa\u30f3\u30e9\u30a4\u30f3\u8b1b\u5ea7\u3067\u3059\u3002\u30d7\u30ed\u306e\u6295\u8cc7\u5bb6\u3067\u3042\u308b\u8b1b\u5e2b\u304c\u3001\u672a\u7d4c\u9a13\u8005\u3084\u82e6\u624b\u610f\u8b58\u304c\u3042\u308b\u4eba\u3067\u3082\u5206\u304b\u308b\u3088\u3046\u306b\u3001\u6295\u8cc7\u306e\u4ed5\u7d44\u307f\u3084\u5168\u4f53\u50cf\u3001\u30eb\u30fc\u30eb\u3092\u57fa\u790e\u304b\u3089\u56f3\u89e3\u3092\u4ea4\u3048\u3066\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n<p>\u6295\u8cc7\u306e\u52c9\u5f37\u3092\u306a\u308b\u3079\u304f\u52b9\u7387\u3088\u304f\u59cb\u3081\u305f\u3044\u4eba\u306f\u3001\u305c\u3072\u4e00\u5ea6\u3054\u8996\u8074\u304f\u3060\u3055\u3044\u3002<\/p>\n<div class=\"cv-btn-wrap\">\n<div class=\"cv-copy\" style=\"text-align: center;\"><strong><a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=article&amp;utm_medium=cta&amp;utm_content=ueoka\">\uff3c1\u5206\u3067\u7c21\u5358\u7533\u8fbc\uff0f<\/a><\/strong><\/div>\n<div class=\"cv-btn\" style=\"text-align: center;\"><strong><span class=\"cv-em\">\u7121\u6599<\/span><\/strong><br \/>\n<strong><span class=\"cv-text\"><a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=article&amp;utm_medium=cta&amp;utm_content=ueoka\">\u30aa\u30f3\u30e9\u30a4\u30f3\u8b1b\u5ea7\u306f\u3053\u3061\u3089<\/a><\/span><\/strong><\/div>\n<\/div>\n<\/div>\n<\/div>\n<h3 data-path-to-node=\"4\">\u3010\u91cd\u8981\u3011\u514d\u8cac\u4e8b\u9805<\/h3>\n<ul data-path-to-node=\"5\">\n<li>\n<p data-path-to-node=\"5,0,0\"><b data-path-to-node=\"5,0,0\" data-index-in-node=\"0\">\u6295\u8cc7\u5224\u65ad\u306e\u6700\u7d42\u8cac\u4efb\uff1a<\/b> \u672c\u8a18\u4e8b\u3067\u7d39\u4ecb\u3057\u3066\u3044\u308b\u9298\u67c4\u3084\u30bb\u30af\u30bf\u30fc\u3001\u5206\u6790\u5185\u5bb9\u306f\u3001\u60c5\u5831\u63d0\u4f9b\u304a\u3088\u3073\u5b66\u7fd2\u306e\u5553\u767a\u306e\u307f\u3092\u76ee\u7684\u3068\u3057\u3066\u304a\u308a\u3001\u7279\u5b9a\u306e\u9298\u67c4\u306e\u58f2\u8cb7\u3092\u63a8\u5968\u3059\u308b\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u6295\u8cc7\u306b\u95a2\u3059\u308b\u6700\u7d42\u6c7a\u5b9a\u306f\u3001\u5fc5\u305a\u3054\u81ea\u8eab\u306e\u5224\u65ad\u3068\u8cac\u4efb\u3067\u884c\u3063\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,1,0\"><b data-path-to-node=\"5,1,0\" data-index-in-node=\"0\">\u6210\u679c\u306e\u975e\u4fdd\u8a3c\uff1a<\/b> \u904e\u53bb\u306e\u30c7\u30fc\u30bf\u3084\u4e88\u6e2c\u306f\u3001\u5c06\u6765\u306e\u6295\u8cc7\u6210\u679c\u3092\u4fdd\u8a3c\u3059\u308b\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u5e02\u5834\u74b0\u5883\u306e\u5909\u5316\u306b\u3088\u308a\u3001\u8cc7\u7523\u304c\u6e1b\u5c11\u3059\u308b\u30ea\u30b9\u30af\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,2,0\"><b data-path-to-node=\"5,2,0\" data-index-in-node=\"0\">\u60c5\u5831\u306e\u6b63\u78ba\u6027\uff1a<\/b> 2026\u5e74\u6642\u70b9\u306e\u60c5\u5831\u306b\u57fa\u3065\u304d\u4f5c\u6210\u3055\u308c\u3066\u3044\u307e\u3059\u304c\u3001\u305d\u306e\u6b63\u78ba\u6027\u3084\u5b8c\u5168\u6027\u3092\u4fdd\u8a3c\u3059\u308b\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u6700\u65b0\u306e\u696d\u7e3e\u3084\u30cb\u30e5\u30fc\u30b9\u306f\u3001\u5fc5\u305a\u5404\u4f01\u696d\u306eIR\u30b5\u30a4\u30c8\u3084\u4e00\u6b21\u8cc7\u6599\u3067\u3054\u78ba\u8a8d\u304f\u3060\u3055\u3044\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,3,0\"><b data-path-to-node=\"5,3,0\" data-index-in-node=\"0\">\u640d\u5931\u306e\u88dc\u511f\uff1a<\/b> \u672c\u8a18\u4e8b\u306e\u5185\u5bb9\u306b\u57fa\u3065\u3044\u3066\u88ab\u3063\u305f\u3044\u304b\u306a\u308b\u640d\u5bb3\uff08\u76f4\u63a5\u7684\u30fb\u9593\u63a5\u7684\u3092\u554f\u308f\u305a\uff09\u306b\u3064\u3044\u3066\u3082\u3001\u7b46\u8005\u306f\u4e00\u5207\u306e\u8cac\u4efb\u3092\u8ca0\u3044\u307e\u305b\u3093\u3002<\/p>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u30102026\u5e74\u6700\u65b0\u3011\u30a2\u30e1\u30ea\u30abFRB\u306e\u5229\u4e0a\u3052\u518d\u71c3\u61f8\u5ff5\u3068\u682a\u9ad8\u306e\u8b0e\u3092\u89e3\u8aac\uff01\u904e\u53bb\u306e\u6b74\u53f2\u7684\u30d1\u30bf\u30fc\u30f3\u304b\u3089\u8aad\u307f\u89e3\u304f\u7c73\u56fd\u7d4c\u6e08\u306e\u884c\u65b9 FRB\uff08\u7c73\u9023\u90a6\u6e96\u5099\u7406\u4e8b\u4f1a\uff09\u306e\u91d1\u878d\u653f\u7b56\u3001\u9ad8\u30a4\u30f3\u30d5\u30ec\u3068\u5229\u4e0a\u3052\u30ea\u30b9\u30af\u3001\u305d\u308c\u306b\u5bfe\u3059\u308b\u682a\u5f0f\u5e02\u5834\u306e\u60f3\u5b9a\u5916\u306e\u5805\u8abf\u3055\u3001\u6b74\u53f2 [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":32182,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"acf":[],"_links":{"self":[{"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/posts\/32175"}],"collection":[{"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/comments?post=32175"}],"version-history":[{"count":5,"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/posts\/32175\/revisions"}],"predecessor-version":[{"id":32202,"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/posts\/32175\/revisions\/32202"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/media\/32182"}],"wp:attachment":[{"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/media?parent=32175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/categories?post=32175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}