Powell also signaled at the conclusion of the central bank’s December meeting that more data is needed to support that inflation has subsided substantially.
CNBC’s Jim Cramer on Wednesday said that investors exiting the market after Federal Reserve Chair Jerome Powell’s hawkish speech are acting too rashly.
Stocks fell Wednesday after the Fed raised interest rates by 50 basis points and forecasted hiking rates through next yearCNBC's Jim Cramer on Wednesday said that investors exiting the market after Federal Reserve Chair Jerome Powell's hawkish speech on Wednesday are acting too rashly. "I have no doubt there will be more people bolting from stocks tomorrow morning, believing they've been given a tremendous opportunity to get out well ahead of when things accelerate to the downside. I think they're being too frantic," he said.
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