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On Monday, CNBC’s Jim Cramer returned to his mantra from earlier in the year, when the Federal Reserve was still ramping up its aggressive rate hike campaign.

“He is one of the best central bankers in the world and he has a winning hand. Will you please let me play?” Cramer said.

Stocks slipped on Monday, extending last week’s losses driven by recession fears. Investor concerns about a possible economic downturn resurfaced last week after the Federal Reserve raised interest rates by 50 basis points and signaled that the expected “end rate,” or the point at which officials expect to stop raising interest rates, would be 5.1%. : That’s higher than the 4.6 percent forecast in September.

Cramer reiterated his advice that investors should not flee the market and urged them not to expect a repeat of the Great Recession, fueled by the bursting of the US housing bubble.

“That 2008 analogy is false. 2022 has very little in common with 2008,” he said, adding: “Consumer flooding and could be settled by higher interest rates, even much higher interest rates. Banks are incredibly well capitalized.”

He also reminded investors that recessions are inevitable for markets to stabilize the economy, repeating his earlier reminder that the Fed will not go easy on the market in its quest to lower rates.

“The sooner we get inflation under control, the less pain we’ll have in the long run,” he said.

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