What impact will the next recession have on the global economy? Jim Cramer of mad money gives us his opinion

The host of Mad Money and “financial influencer“, Jim Cramer, says the market has already decided that the Federal Reserve “is going to tighten and create a recession no matter what“. Jim Cramer also recently stated that we are in a bull market, advising investors to buy the bottom.

Jim Cramer on the recession

CNBC’s Mad Money host Jim Cramer thinks the market has already decided that the U.S. economy will be in a recession. Jim Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and economics site.

Jim Cramer tweeted Monday:

It doesn’t take long for this market to go negative. He has already redigested Friday’s news and decided that the Fed is going to tighten and create a recession no matter what.

After a series of 75 basis point hikes, the Federal Reserve raised its benchmark interest rate by 25 basis points last week. Stocks rallied after the Fed’s announcement. In addition, new data released Friday by the Bureau of Labor Statistics showed that 517,000 new jobs were created in January and the unemployment rate fell from 3.5 percent to 3.4 percent, reaching a level not seen since May 1969. However, Cramer noted that the S&P 500 fell slightly Monday morning.

Read:  At least ten killed in 5.3 magnitude earthquake in northeastern Afghanistan

Many people don’t expect the U.S. to slip into a recession. Treasury Secretary Janet Yellen said Monday on ABC’s Good Morning America, “You can’t call it a recession when you have the lowest unemployment rate in 50 years.“In other news, global investment bank Goldman Sachs on Monday cut the likelihood of the U.S. entering a recession in the next 12 months from 35 percent to 25 percent. “Continued strength in the labor market and early signs of improvement in business surveys suggest that the risk of a near-term slump has diminished notably“, writes Goldman Sachs.

Read:  What is allergic rhinitis? Symptoms and treatment

We are in a bull market

A number of people have pointed out on Twitter that Jim Cramer recently stated that we are in a bull market. The Mad Money host explained on Jan. 31 that the market’s ability to advance on strong earnings reports suggests it still has room to run. Conversely, “a bear market works the other way around: stocks open up, then get smashed, and you feel humiliated. Good earnings mean nothing except for price target reductions” said Cramer, who added:

If we are in a bull market, and I think we are, you have to be prepared…We have to be prepared for the down days now, because in a bull market, there are buying opportunities.

He concluded, “Even if it doesn’t reverse today, well, there’s always tomorrow, so don’t think about betting against“.

The Best Online Bookmakers December 02 2023

BetMGM Casino