It's Jim Kramer here. You're listening to the opening bell of CBC Squawk on the Street. Don't miss a minute of the action. Good Thursday morning. Welcome to Squawk on the Street. I'm David Faber with Sarah Eisen and Mike Santoli. We're live for post nine at the New York Stock Exchange. Jim and Carl both have the morning off. Let's give you a look at futures as we get ready to start this Thursday trading day. We can see where we are.

No, I'm not going to show it to you.

Because we don't have them right now. Take my word for it. It looks like we're going to have an up open, at least slightly. Our roadmap, though, starts with those markets and the Fed announcing its ninth straight interest rate hike. It was 25 based points, Sarah. Plus, CEO of TikTok headed to the

hill testifying before Congress over his app's security concerns. And just out a new short call

from Hindenburg research saying those short payment company block that stock is sinking pre-market.

We will, of course, discuss. Yeah, it's a long report, a lot to get through on that.

But let's start with the Fed, of course, and the interest rate hike.

In yesterday's press conference, Chair Powell, saying the recent failure of a couple of regional banks

could cause ripple effects that slow down the economy.

What we were doing there was taking on board the uncertainty about what will happen.

I mean, it's possible that this will turn out to have very modest effects.

These events will turn out to be very modest effects on the economy, in which case

inflation will continue to be strong, in which case, you know, the path will look, might look different.

It's also possible that this potential tightening will contribute significant

tightening in credit conditions over time, and in principle if that means that monetary

policy may have less work to do. We simply don't know.

We simply don't know, wrapping up, obviously,

many of the things that we've discussed this desk for at least the last week and a half or so,

Sarah. I think that if you come out today and wonder where we are in the hiking cycle, you can

pretty much assume we're either done or he's got one more left. And that was where the market was,

and I don't think he said anything to change that,

basically acknowledged that we don't know what the path is from here

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