{"id":116481,"date":"2021-06-15T15:16:09","date_gmt":"2021-06-15T15:16:09","guid":{"rendered":"https:\/\/fin2me.com\/?p=116481"},"modified":"2021-06-15T15:16:09","modified_gmt":"2021-06-15T15:16:09","slug":"cramer-warns-stock-market-could-sink-if-fed-chief-powell-slips-up-during-endless-heckling","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/cramer-warns-stock-market-could-sink-if-fed-chief-powell-slips-up-during-endless-heckling\/","title":{"rendered":"Cramer warns stock market could sink if Fed chief Powell &#x27;slips up&#x27; during &#x27;endless heckling&#x27;"},"content":{"rendered":"<ul>\n<li>Fed Chairman Jerome Powell&#x27;s news conference Wednesday could have major market implications, CNBC&#x27;s Jim Cramer said Tuesday.<\/li>\n<li>Cramer worried Powell could make a mistake during the Q&amp;A portion that hits the stock market.<\/li>\n<li>The &quot;Mad Money&quot; host also reiterated that he shares Powell&#x27;s inflation outlook, believing the rise in prices is likely to be temporary during the Covid recovery.<\/li>\n<\/ul>\n<p>CNBC&#x27;s Jim Cramer on Tuesday warned about the stock market implications of Federal Reserve Chairman Jerome Powell&#x27;s upcoming post-meeting news conference.<\/p>\n<p>The Fed is set to release its policy statement at 2 p.m. ET on Wednesday, at the conclusion of its two-day June gathering. Powell&#x27;s Q&amp;A session with reporters is scheduled to follow. Powell&#x27;s comments are being highly anticipated across Wall Street, as traders and investors look for fresh insights into how the Fed will respond to a series of recent data points showing inflation across the U.S. economy.<\/p>\n<p>On &quot;Squawk Box,&quot; Cramer said he expects Powell to face &quot;endless heckling&quot; from journalists about whether the central bank&#x27;s highly accommodative monetary policy remains appropriate at this stage of the economy&#x27;s recovery from the Covid pandemic.<\/p>\n<p>Powell &quot;has been saying, &#x27;I&#x27;m going to stay the course, stay the course.&#x27; But there&#x27;s just this tortuous Q&amp;A thing that he does, where it&#x27;s just a nightmare,&quot; the &quot;Mad Money&quot; host said.<\/p>\n<p>&quot;There are going to be people who just ask about the [producer price index] eight straight times, and they&#x27;re going to try and wear him down and maybe at one point he&#x27;s just worn down and he goes, &#x27;Yeah I know we&#x27;re buying too many mortgages&#x27; &#8230; or he slips up,&quot; Cramer suggested.<\/p>\n<p>The Labor Department on Tuesday said the PPI in May rose a hot 6.6% year over year, the largest 12-month increase on record. That comes after last week&#x27;s big spike in consumer prices.<\/p>\n<p>&quot;I mean, Jay is really practiced, but on the eighth question or the ninth question, I think he&#x27;s going to say, &#x27;Listen, I&#x27;m going to look at this,&#x27; and that&#x27;s going to freak people out,&quot; Cramer continued.<\/p>\n<p>Asked by CNBC&#x27;s Andrew Ross Sorkin about how, exactly, stocks might react in that hypothetical scenario, Cramer responded: &quot;Market goes down big, and we go down for about four, five days.&quot;<\/p>\n<p>Cramer also reiterated that he shares Powell&#x27;s inflation outlook, believing the rise in prices is likely to be temporary during the Covid recovery, justifying the Fed&#x27;s near-zero interest rates and asset purchase program.<\/p>\n<p>Not everyone shares Cramer&#x27;s confidence in the Fed.<\/p>\n<p>A number of high-profile investors, including Stanley Druckenmiller and Paul Tudor Jones, have recently criticized the Fed for keeping its easy money policies in place. Jones told CNBC on Monday the central bank&#x27;s credibility is at stake if its inflation forecasts prove to be incorrect. Last week, Druckenmiller suggested that investors and traders will continue to ignore inflation and other risks &quot;until the Fed stops canceling market signals.&quot;<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/06\/15\/cramer-market-could-sink-if-feds-powell-slips-up-during-heckling.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fed Chairman Jerome Powell&#x27;s news conference Wednesday could have major market implications, CNBC&#x27;s Jim Cramer said Tuesday. Cramer worried Powell could make a mistake during [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":116480,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cramer warns stock market could sink if Fed chief Powell &#x27;slips up&#x27; during &#x27;endless heckling&#x27; - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/cramer-warns-stock-market-could-sink-if-fed-chief-powell-slips-up-during-endless-heckling\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cramer warns stock market could sink if Fed chief Powell &#x27;slips up&#x27; during &#x27;endless heckling&#x27; - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Fed Chairman Jerome Powell&#x27;s news conference Wednesday could have major market implications, CNBC&#x27;s Jim Cramer said Tuesday. 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