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

That is a live shot of the scene outside the New York Stock Exchange as restaurant chain

Kava makes its market debut today.

Happy Kava Day. Thank you. It's a potentially major test of the IPO market, and obviously

a very important day for that particular company. A nice little thing going on out there. You can't see it. A lot of plans, screenery. We're going to talk with the CEO later this hour. Oh, that's fantastic. Yeah. Good Thursday morning, everybody. Welcome to Squawk in the Street. I'm David Faber with Jim Kramer. We're live from Post 9 at the New York Stock Exchange. Carl has the morning off. Let's give you a look at futures as we get ready 30 minutes from now to begin the trading day. You can see we're going to have a lower open. And of course, a lot of that may be a result of what we heard yesterday from Fed Chair Powell. And that is where our roadmap starts with the Fed standing pat for now

on interest rates, though it did signal that tightening could soon resume from the Fed to

the consumer new data showing retail sales grows in May, and that was something of a surprise.

And as we mentioned, Kava going public today. It, you know, Jim and I have different

views of how big a test it is for the IPO market, but we'll certainly discuss that.

Brent Shulman is the CEO of what is a Mediterranean fast casual chain, and he's going to join us

later right here at Post 9 to talk about this big day for his company.

Let's start with the Fed, paused rate hikes for the first time in 15 months,

but Chair Powell not ruling out more rate increases before year end.

Nearly all committee participants expect that it will be appropriate to raise interest rates somewhat further

by the end of the year.

But at this meeting, considering how far and how fast we've moved, we judged it prudent to

hold the target range steady to allow the committee to assess additional information and its

implications for monetary policy.

All right, what do you think? Well, I think a lot of people were trying to figure out whether we're going to have a soft landing or a hard landing.

But yesterday we discovered there's a third choice, which is that the plane is still in the air and doesn't have any intention of landing.

So how do you have a soft or hard landing? And the reason is, it's because

of housing. And housing is controlled by wages. I think if you go, you want to know the key

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