world economy

Jeremy Siegel says 100 basis point rate hike is 'medicine to stop this inflation'

Jeremy Siegel says 100 basis point rate hike is ‘medicine to stop this inflation’

Wharton’s Jeremy Siegel is calling for a 100 basis point rate hike, and says markets may be “close to the bottom.” A 100 basis point rate hike by the Federal Reserve on Wednesday will be “medicine to stop this inflation,” the Wharton professor of finance at the University of Pennsylvania told CNBC on Wednesday. “The …

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China's economic numbers come in better than expected, but 'difficulties and challenges' remain

China’s economic numbers come in better than expected, but ‘difficulties and challenges’ remain

New energy vehicles, which include hybrid and battery-powered cars, have seen sales surge in China despite a slump in the overall car market. Pictured here is an unnamed new energy vehicle factory in Jiangsu province on June 13, 2022. Wan Shanchao | Visual China Group | Getty Images BEIJING — China released economic data for …

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TerraUSD collapse will 'probably be the end' of most algorithmic stablecoins, crypto exec says

TerraUSD collapse will ‘probably be the end’ of most algorithmic stablecoins, crypto exec says

Luna, the sister cryptocurrency of controversial stablecoin TerraUSD, dropped to $0. The collapse of the algorithmic stablecoin TerraUSD has raised question about the future survival of similar crypto assets. Dan Kitwood | Getty Images News | Getty Images Algorithmic stablecoins like terraUSD, which collapsed and sent shockwaves through the cryptocurrency market, are unlikely to survive, …

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China faces a nearly $1 trillion funding gap.  It will need more debt to fill it.

China faces a nearly $1 trillion funding gap. It will need more debt to fill it.

During the first four months of the year, investment in real estate development fell by 2.7% from a year ago. Pictured here is a project in Qingzhou, Shandong province, on May 15, 2022. CFOTO | Future Publishing | Getty Images BEIJING — The Chinese government faces a growing shortfall of cash, analysts say, as they …

China faces a nearly $1 trillion funding gap. It will need more debt to fill it. Read More »