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Jim Cramer: We Can't Have People Out of Work Because of the Chip Shortage

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Stocks were lower in intraday trading to kick off the week on Monday, April 12. 

This comes after Federal Reserve Chairman Jerome Powell sat down with CBS's "60 Minutes" said that inflation is temporary.

"I would say this. What we're seeing now is really an economy that seems to be at an inflection point," Powell said.

And President Joe Biden is hosting a semiconductor summit at the White House to discuss the semiconductor shortage which is impacting industries, including the auto industry.

And then, of course, there's the major news out of Microsoft  (MSFT) - Get Microsoft Corporation Report this morning that the tech giant would be buying Nuance Communications in a deal valued at around $19.7 billion. 

Recap TheStreet Live: Everything Jim Cramer Is Watching Monday

Curious about what Jim Cramer and his team at Action Alerts PLUS are watching in the markets? Watch Cramer's exclusive members-only Daily Rundown show on Action Alerts PLUS following TheStreet Live. 

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

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