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CNBC’s Jim Cramer said Wednesday that investors should be with Jerome Powell and not against him, as the Federal Reserve chair has proved he is ready to beat inflation no matter what.

“I think Powell Bear needs a reset and a recalculation. … turns out he’s set to cause a recession — he’ll take a downturn, even — that’s relatively on job loss.” Will be lighter. But that will no longer stand up to inflation,” he said.

,mad MoneyThe host’s remarks came after the Federal Reserve raised its benchmark interest rate by 75 basis points on Wednesday.

The other big news for the day was Powell’s remarks at a post-meeting news conference that he expected a 50 or 75 basis point increase in July.

All three major indices rose after their announcement, with every major sector except travel name and energy posting gains.

Cramer, who has been a supporter of Powell even as he urged the Fed chairman to implement a 100-basis-point-rate hike, strengthened his case against the bears, saying the Fed’s last move in 1994 There was a 75-basis-point rate increase. A “very darn good shopping opportunity.”

He showed a chart of the Dow Jones Industrial Average’s gains during that period:

“All I can say to critics is that Powell is as good as all the other Fed chiefs you hated at the time, only to be loved after he retired. And the stock bears? Well, this is that chart. Not what you want to see,” he said.



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