Nancy Pelosi Told Jim Cramer PPP Doesn't Solve His Biggest Fear

Katherine Ross

Jim Cramer interviewed Speaker of the House Nancy Pelosi on CNBC on Wednesday morning.

But first, let's take a quick look at the markets on Wednesday. 

Stocks were rising in intraday trading as investors embraced positive news on a drug to combat the coronavirus.

However, growth in the U.S. registered its first contraction in six years and its sharpest drop since the last recession during the first quarter as the coronavirus pandemic shut down the economy.

The U.S. Commerce Department reported Wednesday that first-quarter gross domestic product, the broadest measure of goods and services produced across the economy, contracted at a seasonally adjusted annual rate of 4.8% in the first three months of the year, below economists' expectations that called for a drop of 4%.

So, how are politicians responding to this market? Here's what Cramer took away from his interview with Pelosi.

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Comments (1)
No. 1-1

Cramer, you need to fact check what Pelosi says and please never repeat what she says. Trump never did cut the CDC. CDC did not have to cut back its work from 49 to 10 countries. 600 million was appropriated in 2014 was a one time payment and would be spent by 2019. Funding increased from 58million in fiscal 2017 to around 108 million in 2018-19. Fiscal year 2020 CDC awarded 183 million for global public health protection.