Mad Money’s Jim Cramer says Crypto Immolation shows that the Fed’s job of taming inflation is almost complete – Markets and prices Bitcoin news

Mad Money host Jim Cramer claims that “With the burning of crypto, the Fed’s job is almost complete.” He emphasized this “A front in the war on inflation that has been a unique total victory for the Fed” is the fight against financial speculation.

Jim Cramer on Fed policy, inflation, crypto

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

He began by saying, “crypto does not hedge 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 widespread speculation,” noting that it is something the “Federal Reserve is trying to wipe out to tame inflation.”

Recognizing the Fed’s efforts against inflation, he said, “we still have a lot of inflation out there.” He named housing, retail, commodities, transportation, wages and financial inflation – and noted that the latter is also known as speculation. The Mad Money host believes that the Fed has won against all types of inflation he mentioned, except for wage growth. “I think the Fed is starting to make real progress in fighting inflation, and I welcome that,” Cramer said.

“There is a front in the war on inflation that has been a unique total victory for the Fed, and that is the fight against financial speculation,” he claimed, elaborating:

With the launch of crypto, the Fed’s job is almost complete, but they do not seem to know yet.

Cramer pointed out that the crypto sector has received major blows in recent weeks, referring to the fact that some large crypto companies are facing solvency crises while some lay off employees. He warned investors about cryptocurrencies offering “outrageous” returns.

Mad Money hosts:

I know lousy shareholders love company, but this cryptocurrency is the mother of all misery, and I think it’s an appropriate code for a cruel quarter.

“Cryptocurrencies of all kinds continue to fall without any real bottom in sight,” Cramer argued, noting that crypto “is the opposite of a stable stockpile.” He recently said he expects bitcoin to fall to $ 12K.

Cramer noted that wage inflation is the remaining battleground for the Fed, concluding: “The stock market is now reflecting a lot of bad news… but the Fed is still dismantling the good, and they will continue to do so until unemployment begins to rise, which I suspect it will take place after a large interest rate increase of perhaps 100 basis points. “

What do you think of the comments of Mad Money host Jim Cramer? Let us know in the comments section below.

Kevin Helms

An Austrian economics student, 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 of economics and cryptography.