Fun

Mad Money’s Jim Cramer Says Crypto Immolation Shows the Fed’s Job to Tame Inflation Is Almost Complete

News Feed - 2022-07-04 09:07:15

Mad Money"s Jim Cramer Says Crypto Immolation Shows the Fed"s Job to Tame Inflation Is Almost Complete


The host of Mad Money, Jim Cramer, claims that “With the immolation of crypto, the Fed’s job is almost complete.” He stressed that“one front in the war on inflation that’s been an outstanding total victory for the Fed” is the battle against financial speculation. Jim Cramer on Fed’s Policy, Inflation, Crypto


Jim Cramer discussed crypto and the Federal Reserve’s fight against inflation on CNBC’s Mad Money show Thursday. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website.


He began by stating, “crypto does not hedge you against anything — at all,” including stock prices, noting that it has recently performed even worse than the stock market. The Mad Money host called cryptocurrency “the last bastion of rampant speculation,” noting that it is something “the Federal Reserve is trying to wipe out in order to tame inflation.”


While acknowledging the Fed’s efforts against inflation, he said, “we’ve still got lots of inflation out there.” He named housing, retail, commodities, transport, wage, and financial inflation — noting that the latter is also known as speculation. The Mad Money host believes the Fed has won against all the inflation types he mentioned, except wage inflation. “I think the Fed is starting to make real progress in fighting inflation, and I salute them,” Cramer said.


“There is one front in the war on inflation that’s been an outstanding total victory for the Fed, and that’s the battle against financial speculation,” he asserted, elaborating: With the immolation of crypto, the Fed’s job is almost complete, but they don’t seem to know it yet.


Cramer pointed out that the crypto sector has suffered major blows in recent weeks, citing that some major crypto companies are facing solvency crises while some are laying off employees. He cautioned investors about crypto lenders that offer “outrageous” returns.


The Mad Money host opined: I know miserable stock owners love company, but this crypto decline is the mother of all miseries, and I think it’s a fitting coda to a horrendous quarter.


“Cryptocurrencies of all kinds are still cascading with no real bottom in sight,” Cramer claimed, noting that crypto “is the opposite of a stable storehold of value.” He recently said that he expects bitcoin to fall to $12K.


Noting that wage inflation is the remaining battleground for the Fed, Cramer concluded: “The stock market now reflects a lot of bad news … but the Fed’s still dismantling the good and they’ll keep doing it until the unemployment rate starts to surge, which I suspect will happen after one large, maybe 100-basis-point rate hike.” Tags in this story Bitcoin, jim cramer cryptocurrency, mad money, mad money bitcoin, mad money crypto, mad money cryptocurrency


What do you think about the comments by Mad Money host Jim Cramer? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. NFT Sales Stave off Crypto Market Downturn This Week With a Slight Uptick in Volume MARKETS AND PRICES | 2 days ago Deutsche Bank Predicts Bitcoin Rising to $28K by Year-End — Warns "Crypto Free Fall Could Continue" MARKETS AND PRICES | 3 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleRussian Media Censor Roskomnadzor Blocks Major Crypto News Website Next articleIndian Central Bank RBI: Cryptocurrencies Are a Clear Danger — Financial Stability Risks Likely to Grow Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFollowing a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days


Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms

News Feed

Lebanon’s Financial Meltdown: Currency Plunges 80%, Huge Losses at Central Bank, IMF Bailout Stalled
Lebanon"s Financial Meltdown: Currency Plunges 80%, Huge Losses at Central Bank, IMF Bailout StalledThe financial crisis in Lebanon has seen its currency, the Lebanese pound, fall 8
Analysts warn of further Bitcoin downside — Could BTC revisit $42K?
Zoltan Vardai13 hours agoAnalysts warn of further Bitcoin downside — Could BTC revisit $42K?Despite the gloomy outlook, Bitcoin could prevent more downside pressure if it manages to remain above the $51,000 mark.10575
Dogecoin Eyes $1 Milestone: Is A $100 Billion Market Cap Next?
Este artículo también está disponible en español. The cryptocurrency known for its climb fueled by memes, Dogecoin (DOGE), is slowly approaching crucial price points that
Luxury brand blockchain platform Arianee aims to scale, launches L2 on Polygon
Gareth Jenkinson13 hours agoLuxury brand blockchain platform Arianee aims to scale, launches L2 on PolygonArianee has launched a Polygon CDK-powered layer 2 to issue and manage digital product passports for various luxur
Tom Mitchelhill4 hours agoLawyer who laundered $400M from OneCoin scam denied new trial: ReportA lawyer who laundered $400 million from the OneCoin scam has been denied a new trial despite arguing there were legal mistak
Belgian MP to Receive Entire Salary in Bitcoin — Says Crypto Adoption Will Be ‘Exponential’
Belgian MP to Receive Entire Salary in Bitcoin — Says Crypto Adoption Will Be "Exponential" A member of the Brussels Parliament, Christophe De Beukelaer, says he will receive his
Bitcoin, Ethereum Technical Analysis: BTC Below $30,000 Again as Crypto Consolidation Extends   
Bitcoin, Ethereum Technical Analysis: BTC Below $30,000 Again as Crypto Consolidation Extends    Bitcoin prices dropped during the hump-day session, as bulls were unable to main
Floki Inu Cryptocurrency Ads Under Investigation in UK
Floki Inu Cryptocurrency Ads Under Investigation in UK The U.K.’s advertising authority has launched an investigation into advertisements for the cryptocurrency floki inu (F
Bitcoin targets $70K as stablecoin inflows and China stimulus boost rally
Josh O"Sullivan11 hours agoBitcoin targets $70K as stablecoin inflows and China stimulus boost rallyBitcoin has surged past $65,000, boosted by China’s stimulus measures and stablecoin inflows.4128 Total views8 Total s
Ethereum’s Pectra upgrade: Key risks identified in Report
Josh O"Sullivan9 hours agoEthereum’s Pectra upgrade: Key risks identified in ReportAccording to a new report by Liquid Collective and Obol, Ethereum’s Pectra upgrade in 2025 poses significant risks, including concern
SLP Trading Platform Cryptophyl Plans to Change Into a Noncustodial Defi Exchange
SLP Trading Platform Cryptophyl Plans to Change Into a Noncustodial Defi ExchangeThe U.K.-based Simple Ledger Protocol (SLP) exchange Cryptophyl is closing its doors in order to res
Printing $1.7 Trillion for Climate Change: How Joe Biden’s Administration Aims to Push the ‘Green New Deal’
Printing $1.7 Trillion for Climate Change: How Joe Biden"s Administration Aims to Push the "Green New Deal" In 2020, the U.S. Federal Reserve has injected an eno