Mad Money host Jim Cramer says the market has already determined that the Federal Reserve is “tightening no matter what and bringing on a recession.” Cramer also says the market has recently been in a bull market and advises investors to buy the dips.
Jim Cramer said of recessions,
Jim Cramer, host of CNBC’s “Mad Money” program, believes the market has already decided that the U.S. economy is entering a recession. Cramer is a former hedge fund manager and co-founded Thestreet.com, a financial news and literacy website.
Kramer tweeted Monday.
It doesn’t take much for this market to turn negative. Already re-digesting Friday’s news, the Fed has decided that no matter what, it will tighten and cause a recession.
After a series of 75 basis point hikes, the Federal Reserve raised its benchmark interest rate by 25 basis points last week. Stocks rallied on the announcement. In addition, new data released Friday by the Bureau of Labor Statistics showed that 517,000 new jobs were added in January and the unemployment rate fell to 3.4% from 3.5%, the highest level since May 1969. However, Cramer noticed that the S&P 500 fell slightly on Monday morning; the P 500 fell slightly on Monday morning; the P 500 fell slightly on Monday morning; the P 500 fell slightly on Monday morning; the P 500 fell slightly on Monday morning; and the P 500 fell slightly on Monday morning.
Many people do not expect the U.S. to fall into a recession. Treasury Secretary Janet Yellen said Monday on ABC’s Good Morning America that “with half a million jobs and the lowest unemployment rate in 50 years, we are not going to have a recession.” In addition, Goldman Sachs, the global investment bank, lowered its probability that the U.S. will enter a recession in the next 12 months to 25% from 35% on Monday.” Goldman Sachs wrote: “Early signs of continued labor market strength and improving business surveys suggest that the risk of a near-term downturn has diminished markedly.
‘We’re in a Bull Market’
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Many noted on Twitter that Cramer recently said we are in a bull market. The Mad Money host explained on January 31st that a strong earnings report suggests that there is still room for the market to rally. In response, he said, “Bear markets are the opposite: stocks go up, then get hammered and feel humiliated. Good earnings mean nothing other than a lower price target,” Kramer added.
because there are buying opportunities in a bull market.
He concluded.” Even if it doesn’t reverse today, then there’s always tomorrow, so don’t even think about betting on it.”
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