Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

Thanks for joining us today. I'm Julie Morgan, host of Wall Street Breakfast, Seeking Alpha's Daily flagship podcast.

This is our weekly show all about the catalyst for the upcoming week.

I'm joined by Kim Kahn.

He's the senior managing news editor at Seeking Alpha.

I'm also joined by Kevin Curran.

He's an associate news editor at Seeking Alpha.

So Kim, I usually start off by saying,

what do you have for Macro? Next week is really a no-brainer. Well it's the

Fed that's it and it's the most wonderful time of the year if you're into macro it's

fed week and that's kind of what everything's going to be revolving around and right now there is an 85% chance that the Fed does one more quarter point hike when it announces next Wednesday and those odds have gone up recently as today when we're recording when Q1 GDP came out that was lower than expected in the annual rate of 1.1%.

But if you dug deeper into the prices components,

there was a lot of hotter inflation than the Fed might like so that swung the odds even more to now an 85% chance of a hike.

They had been as low as around 65, 70% earlier in the week, mainly because of the instability with First Republic shares and the sharp selling declines that it looked like the stock could go to zero if there wasn't any intervention,

but it has since seemed to stabilize. I'm saying that tentatively as we record this,

but it is back above six dollars seems to be getting some buying interest in finding a floor that means that a panic plan won't be needed right away.

Now there's an article that you wrote and you kind of won't be needed right away.

Now, there's an article that you wrote

and you kind of just touched on a little bit of that.

I noticed an article, it says,

should the Fed surprise the markets

with a strategic pause? What's going on? Yeah, and I wanted to highlight this note from standard charters,

...