SQUAWK BOX, THURSDAY 9TH MARCH, 2023

U.S. Federal Reserve Chairman Jerome Powell reiterates his message that the central bank will speed up the pace of rate hikes should it deem it necessary. The jobs market data remains stubborn but Powell insists that March’s rate decision is not yet a foregone conclusion. In China, inflation has slowed to its slowest pace since last February on weaker consumer activity while factory deflation continues to a fifth consecutive month. Kazuo Ueda is approved as the new BoJ governor by the country’s parliament as the central bank attempts to end decades of ultra-loose monetary policy. In crypto news, lender Silvergate has announced it is closing down and returning deposits. And JP Morgan is to sue its former executive and ex-Barclays CEO Jes Staley for failing to disclose his ties with deceased convicted sex offender Jeffrey Epstein.