My Twitter Conversation with Jim Cramer & Yesterday's remarks by the Fed Chair
Last Week, Jim Cramer had some thoughts for Fed chairman- Jerome Powell and it looks like Powell heard Jim and many others. So I tweeted the following and tagged Jim Cramer to my tweet.
ACCORDING TO JIM, JEROME POWELL SHOULD SLOW THE RATE HIKES BECAUSE OF THE FOLLOWING:
1. Stocks have collapsed
2. Oil keeps sinking
3. The retail rout
4. Housing is awful
5. Hotel Revenue Decline
6. Trade Tariffs
7. Negative Data
8. Slowing Auto Demand
Jim replied to me on Twitter with the following....(retweeted me and dropped a comment to be specific)
Needless to say, Fed Chairman expressed he is content with the current fed fund interest rate and may only raise again just very little moving forward. Thus, the stock market reacted POSITIVELY!
I recommend you watch this short clip of the Fed Chairman discuss some current market vulnerabilities in the economy-
specifically corporate debt and the peak of the business cycle (Boom & Bust).