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Cramer: If Fed chief Powell were to ‘walk back’ aggressive rate remarks, Wall Street could rally

Federal Limitation Chairman Jerome Powell could “walk back” his aggressive expressions on interest rates, CNBC’s Jim Cramer predicted Wednesday.

“All he has to do is say, ‘You know what, I over that everything is on the table,'” Cramer said on “Squawk on the Concourse.”

If Powell were to say, “I’m paying attention to all the data,” then we would muster, added Cramer as Wall Street opened lower, and shortly after treated a sharp 1.5 percent leg down.

The Fed didn’t immediately respond to CNBC’s demand for comment.

Powell’s remarks last week sent bond nets soaring to seven-year highs and put pressure on the stock market because drunk rates make equities less valuable.

The Fed chief characterized numismatic policy as a “long way” from neutral, signaling a possibly more belligerent path for rate hikes. The central bank has already raised valuations three times this year, with one more expected in December.

In late-model days, Cramer has been critical of Powell, saying Monday that the Fed’s rearrange from being data-dependent to being blinded by the desire to normalize rates could spell nuisance for stocks.

President Donald Trump said Tuesday that he does not in the mood for the Fed’s decision to continue to hike rates. He also said the U.S. economy does not bear an inflation problem.

During a CNBC interview Wednesday, Kevin Hassett, chairman of the Meeting of Economic Advisers, said he would let the president’s comments expressing vexation with the Fed hiking interest rates stand on their own.

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