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

Good morning. Today is Wednesday, July 26th.

Then I'm your host, Julie Morgan.

We know the Federal Reserve is expected to hike interest rates again,

but will this be the final one?

Pack West and Bank of California are merging.

UPS and the Teamsters have reached a tentative agreement and

alphabet is up but Microsoft is down after reporting earnings on Tuesday.

Here's what's making headlines today. The Federal Reserve's policy setting

arm is widely expected to boost its key rate by 25 basis points today as the

Central Bank slows its pace of tightening, but what comes next is up for debate.

Last month the Federal Open Market Committee kept its Federal Funds Rate Target unchanged at 5 to 5.5% as it assessed the effects of the tightening already

implemented in the banking turmoil this past spring.

Even though today's decision is expected to be the final hike,

Fed Chair Jerome Powell emphasized at the press conference in June

that the FOMC would take a meeting by meeting approach

to its rate decisions. He added it may make sense to raise

rates higher but at a slower pace. Pack West has agreed to combine with Bank of

California in an all-stock merger transaction.

The regional lenders made the announcement on Tuesday.

Before the official announcement, the Wall Street Journal reported that Pac-West was in

advance talks to sell itself to Bank of California.

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