About this episode
Wall Street posts its best day since 2020 with the Dow surging over a thousand points on signs inflation may have peaked. Goldman Sachs’ tells CNBC the data vindicates the Fed's approach. The jump in U.S. equities sends yields sharply lower while the dollar sinks in its worst day since 2009. China adjusts its Covid controls, cutting the quarantine period for close contacts and easing restrictions for inbound travelers as Beijing looks to minimise the number of people affected by the measures. The White House announces President Biden will hold his first face-to-face meeting with Chinese leader Xi Jinping next week, with the aim of improving relations between the two global superpowers. In the world of crypto, FTX's Sam Bankman-Fried courts investors, reportedly seeking more than 9 billion dollars to rescue the crypto exchange. SEC Chairman Gary Gensler tells CNBC the sector is failing to comply with clear rules. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info .