7.7 C
New York
Tuesday, October 4, 2022

Fed Needs to Raise Rates 100bps Now, Which Could Trigger a Rally – Cramer

Fed Needs to Raise Rates 100bps Now, Which Could Trigger a Rally - Cramer
© Reuters. Fed Needs to Raise Rates 100bps Now, Which Could Trigger a Rally – Cramer

By Investing.com Staff

Following today’s red-hot inflation number, showing an 8.6% year-over-year rise in consumer inflation, CNBC’s Jim Cramer is calling for some shock and awe from Federal Reserve Chairman Jerome Powell. Cramer thinks that the Fed needs to raise 100 bps points now, not the 50 bps forecasted by the market.

“I want the Fed to go 100 basis points,” Cramer said. “Just get it over with.”

Cramer said while Powell is trying to be measured with rate hikes, “measured is not going to cut it anymore.”

He added that everyone needs to come to terms with the fact that there will be a recession of sorts. However, the customer may not be the source of it. He said a recession with a strong consumer will take down some companies, but others will thrive.

Cramer thinks the market will rally if Powell does follow through with a 100 bps hike.

Source: Investing.com

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

11,297FansLike
12,893FollowersFollow
748FollowersFollow
- Advertisement -

Latest Articles

Popular Articles