Jim Cramer believes that Federal Reserve chair Jay Powell is 'fighting the good fight' when it comes to inflation.
"So let's say Jay Powell raises rates. Isn't that the goal of so many commentators, newsmakers, hedge fund, and money managers?" Cramer wrote in his Real Money column.
"What happens? It's time to talk about cycles and what will occur if he decides that inflation isn't transitory and he gives up the good fight to keep rates low in order to put more people to work. After all he knows we can get to almost half in the percent of the current unemployed number and not be inflationary because it wasn't under President Trump. He knows that we could cut the percent of minority employment in half from about 10% to about 5% if he keeps the pedal to the metal because it can and has been done," he wrote. "The first thing that happens is the same people who have hectored him before hector him again, perhaps even louder."
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