shery: more on the banking sector troubles with harvard committee school professor carmen reinhart. here why she believes lenders may be in worse shape now than during the 2008 global financial crisis. we will talk trading opportunities with wealth manager as investors debate the fed's policy decision. this is bloomberg. ♪ it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. the first time you connected your godaddy website and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth m

what carmen reinhart says they should do?ng to show that they will reduce their gdp forecast, because they are uncertain of credit tightening, and less credit being extended could do. are they going to change their inflation forecast, since inflation is high? that is the first question. they've had an important phrase in the policy statements at the last several meetings, the fed talks about ongoing increases in interest rates. will they go ahead and hike and say that more will come, but will they take it out of the statement. finally, doves, the economic advisor of obama, he is the new chicago fed bank president. partly because he was skeptical of inflation getting high, and it did. and because he worked for democrat people figured he would be more dovish. what i know of austen's he is the kind of guy that will do what is right. people are wondering if he will say where we hiking rates, let's pause and see what happens. there people in the camp of needing to pause. that will be another interesting part of the policy statemen

we spoke to carmen reinhart. she says her baseline is they will do the 25. and they will signal they are not being more aggressive or pausing because they want the markets to be clear about what they are doing. they need to fight inflation and that is where they are heading. the communication, the policy statement and jay powell's pressure are going to be some of the biggest forces, some of the biggest potential market movers we get in the next 24 hours. haidi: i care of nevertheless time a fed decision was this uncertain and also this exciting. let's get you to vonnie quinn with the first word headlines. vonnie: the ecb is asking lenders about indirect exposure to credit suisse after finding their balance sheets show few or no holdings of the swiss firm's jr. debt pair the watchdog is said to be widening as approach to ask banks if they face risks from their clients a losing money. the takeover of credit suisse rendered $17 billion worth of at1 that worthless. the biden administration is set to unveil restrictions on the chinese operations of chipmakers tha