Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning, today is Wednesday, June 14th, and I'm your host Julie Morgan.

The Federal Reserve is widely expected to keep its key rate unchanged

after core CPI inflation stalls at 5.3% year over year as expected.

Google reportedly delays the European start of its barred AI due to privacy concerns.

And when you watch the NBA Championship this week or the Stanley Cup last night,

data shows you were less likely to be drinking. this week or the Stanley Cup last night.

Data shows you were less likely to be drinking anything by Bud.

Here's what's making headlines today.

With the Federal Reserve widely expected

to keep its key rate unchanged at 5 to 5.5 percent today

after 10 straight hikes. Investors will focus on the Central Banker statement for any inkling

of guidance for its intentions at the July meeting.

Tuesday Fed members receive new information, the Consumer Price Index report for May.

That report showed a year over year deceleration in both the headline number and the core

CPI figure. On a month over month basis, headline CPI edged up 0.1% in May from April, less than the 0.2% expected and decelerating from the 0.4% gain in April.

Wells Fargo, Sarah House said the data should mean no rate hike for the current meeting,

but they're expecting Chair Powell's press conference and the latest summary of economic

projections to signal that one more rate hike is still in the cards.

At the last meeting, the Federal Open Market Committee kept the door open for a rate increase at future meetings

when it said additional policy firming may be appropriate to return inflation to 2% over time.

Any changes to that wording will let markets know which way the Fed may be leaning toward

...