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

Good morning. Today is Wednesday, April 17th. I'm Julie Morgan.

Powell says hire for longer is necessary.

Take two signals that there's more trouble in the video game industry,

and Hawaiian Electric is under pressure ahead of the release of the AG's report on the wildfires of 2023.

It'll likely take longer for the Central Bank to gain confidence that inflation is headed lower.

That's the word from Federal Reserve Chair Jerome Powell on Tuesday at the Washington

Forum on the Canadian Economy.

He said recent data demonstrates a lack of progress on inflation. the more time to work. As of this recording, the probability that the Federal Open Market Committee will keep rates at 5 and a quarter to 5.5 percent stands at 98 percent according to the CME Fed Watch Tool.

Tuesday, following Powell's speech, it was 84.8%.

Powell also spoke about the lesson the Fed learned

during the banking stresses in the spring of 2023.

He said that the Fed was not forceful enough and fast enough in supervising banks like Silicon

Valley Bank once it identified problems.

More signs of trouble in the video game industry.

Take-2 Interactive disclosed on Tuesday that it will reduce its workforce by about 5%.

As of March 31st of 2023,

the publisher of the Grand Theft Auto franchise

had 11, 580 employees.

According to this figure, a 5% reduction in its head count would impact

less than 600 workers. The company added that it would scrap several projects in

development as part of a cost reduction program, which is estimated to lead to

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