Jim Cramer: A Rate Hike Will Slow Economic Growth
Jim Cramer warned of major consequences that will follow an upcoming rate interest rate hike from the Federal Reserve.
TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer warned of major consequences that will follow an upcoming interest rate hike from the Federal Reserve. He said higher rates will cause struggling energy companies to fold, leading to higher oil prices. Plus, renters will be less inclined to purchase a home. A rate hike will also result in the same volatility in the stock market seen from December of 2015 to February 10, 2016, Cramer said.
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.
