Market Insight and Analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good Thursday morning and welcome to Squawk on the Street. We're live from the New York Stock Exchange, of course, in Lower Manhattan.

And that's why you can look at those pictures as well, because in one hour, the New York

Nix will be honored with a ticker tape parade up the canyon of Heroes this after winning

the team's first NBA championship in 53 years.

I'm David Faber.

He's Jim Kramer, not a lifelong Knicks fan, unlike me. Carl has the morning off, but an exciting day here. Sorry.

It's exciting to try to get into work.

Yes, getting into work with something of a challenge in terms of crowd control, various subways, and everything else.

And of course, I do feel badly for people who are stuck sort of in places where they're

not going to be able to get that view. Our viewers are looking at right there. It makes me think

perhaps they could have enlarged the parade route to allow more people because we're inundated.

My subway trip down, obviously, was a lot more crowded than typical.

But you're dressed in the dark, honestly.

Well, I try to kind of have a neck color. Do you think that someone's going to job to you and put a soda on your something? I tried to get a shirt that had some orange in it. I didn't do very well. No, not at all. I didn't do very well. Anyway, I just point that out. Okay. But an exciting day here, we will sort of keep apprised of how things go.

They start down at the battery at 10 a.m. end up at City Hall. It's very exciting, yeah. And obviously, as a lifelong Knicks fan, it's a great thing. I'd hope to get out there and watch. That's going to be virtually impossible. And unfortunately, no windows even from here in the New York Stock Exchange to see Broadway, as far as I'm aware. In New York, I know that it's very simple.

It's very civil. In Philadelphia, civil. Yes. In Philadelphia, it would be little. You had to grease the polls and people climbing up and overturning cars. A lot of young kids, very nice to see. No, no, it was great. But I did get high walking down the street because there's so – there's a lot of pot.

Well, yeah, of course. You want to start off every morning getting high. I mean, I forgot who I was dealing with. You do. Okay. Speaking of being high, let's talk about the market, shall we? Or let's talk about where we are right now. I would love to, David. This after a day, the Fed, of course, held rate steady.

First Fed meeting under new chairman Kevin Warsh.

In his press conference, Warsh spoke about the group's goal to take on inflation.

We recognize that inflation has been running well ahead of the Fed's long-stated inflation goal of 2%. That's been going on for more than five years.

Persistently high prices are a burden for the American people.

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