Cramer still figured that one rate hike in December wouldn’t throw the U.S. economy into a slowdown given the country’s positive employment trends.
“Bottom line? Next year, when we annualize the tax cuts, when the tariffs rise to 25 percent, when the retail and housing layoffs begin in earnest, … and if Powell keeps raising rates, well, we’re not going to want to own a lot of stocks,” he said, calling back to comments he made on “Squawk on the Street.”
“The worse things get, the more likely it is that the Fed will do the right thing, though. That’s the one silver lining today,” he continued. “Still, let’s hope Powell sees the light soon, or else these declines could get — I admit — even nastier.”
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