Does Wall Street need to rethink its hopes for a rate cut?
The Federal Reserve is back in the headlines after New York Federal Reserve President John Williams made dovish comments Thursday.
Jim Cramer weighed in on Williams comments and the lingering hope for a 50 basis point rate cut later this month.
Here's what he had to say:
I don't wanna have this 50 basis point story because they don't need that. They just need to take back the one hike that was too many. But Larry Fink was on our network this morning talking about how high our rates are versus Bulgaria and I think that they just picked that country, but 0.68 for them the on 10 year. There's room to cut and there's nothing wrong. I did a piece on this for real money. There's absolutely nothing wrong with trying to stimulate the economy when inflation is low. There's nothing wrong with doing that. His job is to try to keep a good economy. He wants a good economy and he's giving us a good economy--even better than we had.
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