Jim Cramer: Why More People Should Be Sympathetic to Jerome Powell

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The markets don't seem so set on Jerome Powell. 

The Federal Reserve released its decision about interest rates yesterday.

Despite the Federal Reserve cutting rates by 25 basis points, which is what many market experts had wanted, the Dow tumbled over 400 points after Federal Reserve Chairman Jerome Powell took the podium to talk to the press.

Jim Cramer broke down his thoughts on Powell's presser. 

"I don't like the characterization that he didn't communicate well or didn't get it right. I mean could he have done it better? Anyone can do anything better in retrospect. But remember what he's caught between...He knows that the president's going to attack him no matter what he does and call him names and it's very distracting. It distracts you from doing your job. And he also has got a lot of positive data and employment. Typically, the Fed would react to employment. That's historically what they do. So he had to cut because manufacturing is down and the manufacturing is down because of the president's tariffs. So what's he supposed to say? "I made a mistake in December, and by the way, the president is killing us with tariffs." Then what would happen...he would take the bait of the president and then the president would be merciless cause he's a merciless guy," said Cramer.

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