portfolio manager at matthews asia. always great to have you with us.r such a lot of fed speak and inflation data -- and ahead of inflation data. this chart looks at how monumental the spike is compared to the previous decade. historically, we see these trends when it comes to inflation. in the u.s., nearly 9% above the last year -- above the last decade's trend. if we expect we are nearing some kind of peak, what would the fed need to see from that to be able to change the trajectory? given that you say they have already been reactive rather than preemptive in policymaking? >> that is the 10,000 dollar question. when i see this chart now, with inflation running so high, above the decade-long trend, i think the fed really needs to be on top of inflation, by raising rates much more aggressively. 50, 50, 50 over the next three meetings, i would not be surprised if they step up to 75 basis points at one of these meetings. if we don't see a material fall and inflation over the next few months. we do expect it to come down from 8.5. but is it going to come d

asia is a bright spot in emerging markets. haidi: the demographics are certainly compelling. mark, great to have you, mark matthewsch at julia baer. softbank, the vision fund posting a record loss, estate price for big wages on money-losing companies. pummeling the value of vision fund companies including the south korean coupon as well as didi in china, the loss $20.5 billion u.s. in the year ending march 31. we saw a profit of 4 trillion yen the previous year. soft bank is up 2.3% after adr dropped overnight after that record loss was being processed by investors. perhaps some of the more optimistic narrative that we got from the call on the arm ipo is making up or the loss. that's get to vonnie quinn with first word headlines. vonnie: argentina's central bank has raised interest rates for the fifth time this year, to keep up with an inflationary spike that has triggered protests. the bcra increased its rate 49 basis points, the highest level since 1992 per in the central bank says it now expects gradual inflation deceleration. beijing has denied the city will be locked down while urging people not to hoard food