Jim Cramer asserted that there will be no recession next year.
Jim Cramer is a well-known financial personality and the host of Mad Money.
Cramer remarked that all eyes are currently focused on this year's last FED interest rate hike meeting.
Jim Cramer appeared on CNBC's Investing Club and shared his perspectives on a possible US recession.
Jim Cramer is a well-known financial figure, which helps him analyze that there are probably no chances of a recession in the next years. In contradicting his recent statements, Jim Cramer earlier advised crypto investors to sell their holdings as soon as possible citing the global downturn.
Back to the topic, Jim Cramer reported that “everyone has decided that there will be a recession. I don't see a recession. I believe the Fed is acting deliberately.”
Cramer stated that he is completely exhausted by the analysis and reports released by experts predicting a global recession in the coming years. He asserted that media reporting is a part of reality but that doesn’t mean that they are completely truthful.
The Mad Money host further noted that we are in the middle of somewhere, in which we will witness interest rate hikes by the FED, massive layoffs, and so on. But that doesn’t imply that a global recession is on its way.
At last, he concluded his remarks by stating that the FED's upcoming interest rate raise meeting, which is scheduled for Dec 15, is a crucial perspective to portray a future forecast.
The Federal Reserve meeting significantly influenced the prices of broader cryptocurrencies in both positive and negative ways. Previously, crypto assets acted as an inflation hedge, but current market circumstances drive it to behave more like a risky asset, which is the primary reason why the FED meeting influenced the crypto market.
Recently, the Fed stated that interest rates could be raised by half a percentage point in December, which prompted crypto prices to rise. However, the broader crypto market became highly volatile in the past few days because investors are eyeing the last FED meeting of 2022.
What do you think, will the Fed change its hawkish stance on interest rate hikes, or will it again raise interest rates by 75 basis points? Share your thoughts in the comment section below.
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