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Fed Preview: Jim Cramer Explains Part Oil Plays in Inflation Fears

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What should investors watch when Federal Reserve Chairman Jerome Powell speaks today?

Fears of rising inflation likely will be on the minds of investors when Powell speaks following a two-day meeting of the central bank. Powell has said that inflation likely will rise as the economy recovers but thinks it will be temporary, noted TheStreet's Joseph Woelfel.

Powell is expected by economists to indicate the Fed will tolerate higher inflation to get the U.S. back to full employment.

The Fed has previously promised it wouldn't raise rates until at least 2023. 

Any indication of changing sentiment from Powell or the central bank will likely put markets on edge Wednesday. 

In the video above from TheStreet Live Tuesday, Jim Cramer breaks down what he wants to hear from the Fed and explains the part he believes oil prices play in stoking inflation fears. 

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