LOOK at this nonsense.....this is what I find so damn amusing....here we have cramer saying the fed should not raise interest rates because the economy "IS NOT GOING THE WAY IT"S SUPPOSED TO"
SUPPOSED TO????
Wait so if the economy isnt going the way ITS SUPPOSED TO then why is the market 1% off its historical highs??? how come markets are up hundreds of percent??? GDP is in the 2-3% range, corporate profits are surging...unemployment nearing historical lows... When is the fed SUPPOSED TO raise rates??? Looking at the stock market alone with unemployment at 5.5% you would think rates would be sitting at 3-4%, nope....rates still stuck at 0%
This whole market and the fed is a fucking joke....non stop talk about when the fed is going to raise rates, talk about when they are going to take a word out of their statement, come on already, and these fucking surveys where economists vote when they think the fed is going to raise rates, are we in 4th grade....every single day these same mundane questions, over and over and over and over and over again.......
There's no way the Fed should raise interest rates because the economy "is not going the way it's supposed to," CNBC's
Jim Cramer said Tuesday ahead of a two-day Fed policy meeting.
"I would like to see some March data because, I've got to tell you, February data indicates you should be cutting rates, not raising them," Cramer said on "
Squawk on the Street." "I'm not being facetious. I'm just saying, look if you had that data and the rates were 2 percent , you'd probably want to take them down to 1.75."
Cramer made his remarks after the Commerce Department reported that February housing starts plummeted 17 percent to 897,000 units, missing economists' estimate of 1.05 million. On Wednesday afternoon,
Fed Chair Janet Yellen holds a news conference, with her every word scrutinized for hints about when the Fed will raise its rates.
U.S. equities opened Tuesday's session lower, with the
Dow Jones industrial average shedding more than 100 points.
"We were among the weakest countries in the world in February, which is why it's so funny when we talk about what the Fed is going to do if they're data-dependent. We're building fewer homes than we did when we had half this many people in this country," Cramer added. "It's worrisome."
Nevertheless, Cramer said falling gasoline prices help the central bank's case for a rise in interest rates. "That's really what makes retail and restaurants so great." Average gasoline prices in the U.S. have dropped to $2.416 per gallon from $3.523 a year ago, according to data from GasBuddy.com.
