Why Jim Cramer Thinks That Jay Powell 'Doesn't Know What to Do'

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The Federal Reserve is set to announce its decision on interest rates on Wednesday, Dec. 11. 

The Federal Reserve will publish its final interest rate decision of the decade amid the strongest job market in fifty years and solid domestic growth, but trade uncertainty, as well as an impatient President Donald Trump, will keep Chairman Jerome Powell from resting too easily heading into what could be a 2020 standoff with financial markets.

In October, Powell and his colleagues on the Federal Open Markets Committee, which decides the benchmark interest rate for the U.S. economy, said they would "continue to monitor" economic data, Fed-speak for a "wait-and-see" approach while vowing that only a "material change" would spur the central bank into a near-term move on rates, which have been cut three times this year to the current range of 1.5% to 1.75%.

"I think that Jay Powell doesn't know what to do. I mean, I think that he has to do these press conferences. He has to say something and that's where he gets in difficulty. Should never have done this every month press conference. You know, he does this, it creates more problems. Simplify things. That's what you want to do. Just say, here's our statement. And once a quarter, I answer some questions. But beyond that to do once a month is...very onerous because you have to go through a thicket and you don't want to say something that is upsetting of the markets that you don't mean," said Jim Cramer.

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