Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

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

Published 06/10/2022, 10:24 PM
Updated 06/10/2022, 10:24 PM
© Reuters.

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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.