As stocks traded cautiously in intraday trading Thursday ahead of Federal Reserve chair Jerome Powell’s virtual address at Jackson Hole Friday, Jim Cramer said the continued focus on the Fed is misguided.
“It’s a mistake to focus on Jackson Hole,” Cramer told Action Alerts PLUS senior analyst Jeff Marks.
Where should investors be placing their intention instead? “Europe is the driver here,” Cramer said.
Cramer added that as large portions of the world, namely European countries, get their populations vaccinated, “business explodes.”
“When people get vaccinated, you won’t care about [Fed] tapering,” Cramer said.
Recap TheStreet Live: Everything Jim Cramer Is Watching 8/26/21