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Radio on the ground everywhere. And I'm Brian Curtis in Hong Kong. Let's check this hour's top business stories and the markets. The U.S. Federal Reserve is expected to deliver a 25 basis point interest rate increase at tomorrow's meeting, a pause in the hiking campaign is also expected. Former fed Dallas president Robert Kaplan. We don't have great fiscal discipline right now. If I were at the fed, what I would be saying publicly is we'll do our part on monetary policy, but we need the rest of the government to do its parts if we're going to fight inflation. And I'm not hearing that message yet from the fed. Separately, a group of U.S. lawmakers wrote to fed chief J Powell and urged him to pause interest rate hikes. The senators include Elizabeth Warren and Bernie Sanders. They said that recent bank failures and the lagging impact of earlier rate hikes leave the U.S. economy more vulnerable to an overreaction by the fed. Again, Robert caplan, we have even gone into the credit cycle yet. We're about to go into a credit cycle because the downturn is ahead of us. So the worry is many of these banks don't have as much capital as we thought they did, and they're about to go into a credit cycle. And most of them, I can tell you firsthand in talking to many banks CEOs are dealing with this by shrinking their loan portfolio because they can't raise equity because their stocks are low. To that, PAC west and western alliance led a big sell off in regional lenders in the markets today. PAC west shares down 28% at a record low, and western alliance tumbling 15%. Bloomberg's max Reyes. I would say part of why they've kind of been in the crosshairs of investors is because they are both sort of sunbelt banks with a lot of commercial business and that means in turn that they have uninsured deposits, which became really top of mind after you saw the bank runs in March. In corporate news, AMD gave a lackluster sales forecast for the current quarter, the company said second quarter revenue will be 5.3 billion analysts were looking for 5.51 billion. It suggests that AMD is still recovering from a post pandemic funk as demand remains sluggish. Here's Bloomberg's Ian king. The obviously in the run up to the lockdowns of the pandemic. Everybody ran out on board a PC or something similar for their kids so that they could work at home. And the PC industry said, oh, this is a sign that the PC is important has come back. And but then when we've come back to work, when we've gone back to school, we've left our PCs at home and we haven't felt the need to buy a new one. Looking ahead, AMD, like its rival Intel seized recovery coming in the second half of the year. But investors didn't seem to like this story, they sold the stock down more than 6% in late trading. And in Asian market action, the hanging index is down 1.6% in Seoul that Cosby is down 8 tenths of 1%. Global news brought to you by 2700 journalists and analysts in a 120 countries. In Hong Kong, I'm Brian Curtis. This is Bloomberg. You never completely ready to adopt a teen. For a late night's writing English papers. Are your teens music taste? For dinners, where they talk more on their phone than with you. For the first

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