Cramer Explodes : Bernanke Has No Idea How Bad It Is - Fed Leaves Rates Untouched
Usually CNBC's Jim Cramer, host of the popular "Mad Money" show, is passionate about what he says, whether it be his current stock picks or general market commentary. Today is the 9th consecutive meeting that the Fed has left rates untouched. Jim predicts a rate cut in October. The next Fed meeting is planned for September 18th, 2007.
The video below is of Mr. Cramer at seemingly at his witts ends with respect to Bernanke's "by the books" approach to handling federal monetary policy issues. What is tricky in my opinion is that either way you argue the rate debate there is strong points for both sides. Some would argue higher rates could destroy the housing market and start the economy into a downward spiral. Lower rates could help fuel the inflation concerns. Some, as seen below, feel more strongly than others.
I would love to hear your reactions to Jim's concerns and what you think the fed will do come mid-September.