What Jim Cramer Is Watching at Virtual Jackson Hole
Jim Cramer weighs in on the Federal Reserve ahead of Jackson Hole.
But, before we get to what he expects, let's go over how the coronavirus pandemic is impacting the world, since the Fed is eyeing the pandemic and its impact on the economy closely.
There are over 23.4 million cases of the virus worldwide, with over 809,000 deaths.
According to Johns Hopkins, the U.S. has surpassed 5.7 million cases with over 176,000 deaths.
Per the COVID-19 Tracking Project, there were 38,234 new cases reported Sunday. 611,382 new tests were reported. And 572 deaths were reported yesterday.
In the minutes from their meeting in late July, officials at the central bank “agreed that the ongoing public health crisis would weigh heavily on economic activity, employment, and inflation in the near term and was posing considerable risks to the economic outlook over the medium term.”
The central bank said it expected to maintain rates between a 0% and 0.25% until it's “confident that the economy had weathered recent events and was on track to achieve the committee’s maximum employment and price stability goals.”
The Fed emphasized the need for further fiscal policy support from Congress.
So, what's Jim Cramer watching? Watch the video above for more.