Mad Money’s Jim Cramer Says Crypto Burnout Shows Fed’s Job To Tame Inflation Is Almost Done – Markets & Prices Bitcoin News

Mad Money’s Jim Cramer Says Crypto Burnout Shows Fed’s Job To Tame Inflation Is Almost Done – Markets & Prices Bitcoin News

Mad Money host Jim Cramer claims that “with the burning of cryptocurrencies, the Fed’s job is almost done.” He emphasized that “one front in the war on inflation that has been a remarkable total victory for the Fed” is the fight against financial speculation.

Jim Cramer on Fed policy, inflation, crypto

Jim Cramer discussed crypto and the Federal Reserve’s fight against inflation on CNBC’s Mad Money on Thursday. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website.

He began by stating, “crypto doesn’t protect you from anything – at all,” including stock prices, noting that it has recently been even worse than the stock market. The Mad Money host called the cryptocurrency “the last bastion of rampant speculation,” noting that it’s something “the Federal Reserve is trying to wipe out to tame inflation.”

Although he acknowledged the Fed’s efforts to fight inflation, he said, “we still have a lot of inflation.” He cited housing, retail, commodity, transport, wage and financial inflation – noting that the latter is also known as speculation. The Mad Money host believes the Fed has beaten all the types of inflation he mentioned, except wage inflation. “I think the Fed is starting to make real progress in the fight against inflation, and I applaud them,” Cramer said.

“There is one front in the war on inflation that has been a remarkably complete victory for the Fed, and that is the battle against financial speculation,” he asserted, elaborating:

With cryptocurrency burning, the Fed’s job is almost done, but they don’t seem to know it yet.

Cramer pointed out that the crypto sector has taken major hits in recent weeks, stating that some major crypto companies are facing a solvency crisis, while some are laying off employees. He warned investors about crypto lenders offering “outrageous” returns.

The Mad Money host said:

I know the miserable stockholders love company, but this crypto crash is the mother of all woes, and I think it’s a fitting code for a terrible quarter.

“Cryptocurrencies of all kinds continue to cascade with no real bottom in sight,” Cramer argued, noting that cryptocurrency is “the opposite of a stable store of value.” He recently said he was expecting bitcoin will fall to 12 thousand dollars.

Noting that wage inflation is the Fed’s remaining battleground, Cramer concluded: “The stock market is now reflecting a lot of bad news … but the Fed is still dismantling the good news and will continue to do so until the unemployment rate starts to rise, which I suspect will happen after one big, maybe 100 basis point rate hike.”

What do you think of Mad Money host Jim Cramer’s comments? Let us know in the comments section below.

Mad Money’s Jim Cramer Says Crypto Burnout Shows Fed’s Job To Tame Inflation Is Almost Done – Markets & Prices Bitcoin News

Kevin Helms

An Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in bitcoin security, open-source systems, network effects, and the intersection between economics and cryptography.




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