{"id":13130,"date":"2022-07-04T02:41:18","date_gmt":"2022-07-04T02:41:18","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/mad-moneys-jim-cramer-says-crypto-immolation-shows-the-feds-job-to-tame-inflation-is-almost-complete-markets-and-prices-bitcoin-news\/"},"modified":"2022-07-04T02:41:18","modified_gmt":"2022-07-04T02:41:18","slug":"mad-moneys-jim-cramer-says-crypto-immolation-shows-the-feds-job-to-tame-inflation-is-almost-complete-markets-and-prices-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/mad-moneys-jim-cramer-says-crypto-immolation-shows-the-feds-job-to-tame-inflation-is-almost-complete-markets-and-prices-bitcoin-news\/","title":{"rendered":"Mad Money’s Jim Cramer Says Crypto Immolation Shows the Fed’s Job to Tame Inflation Is Almost Complete \u2013 Markets and Prices Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The host of Mad Money, Jim Cramer, claims that \u201cWith the immolation of crypto, the Fed\u2019s job is almost complete.\u201d He stressed that <\/strong>\u201cone front in the war on inflation that\u2019s been an outstanding total victory for the Fed\u201d is the battle against financial speculation.<\/strong><\/p>\n

Jim Cramer on Fed\u2019s Policy, Inflation, Crypto<\/h2>\n

Jim Cramer discussed crypto and the Federal Reserve\u2019s fight against inflation on CNBC\u2019s Mad Money show Thursday. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website.<\/p>\n

He began by stating, \u201ccrypto does not hedge you against anything \u2014 at all,\u201d including stock prices, noting that it has recently performed even worse than the stock market. The Mad Money host called cryptocurrency \u201cthe last bastion of rampant speculation,\u201d noting that it is something \u201cthe Federal Reserve is trying to wipe out in order to tame inflation.\u201d<\/p>\n

While acknowledging the Fed\u2019s efforts against inflation, he said, \u201cwe\u2019ve still got lots of inflation out there.\u201d He named housing, retail, commodities, transport, wage, and financial inflation \u2014 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. \u201cI think the Fed is starting to make real progress in fighting inflation, and I salute them,\u201d Cramer said.<\/p>\n

\u201cThere is one front in the war on inflation that\u2019s been an outstanding total victory for the Fed, and that\u2019s the battle against financial speculation,\u201d he asserted, elaborating:<\/p>\n

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With the immolation of crypto, the Fed\u2019s job is almost complete, but they don\u2019t seem to know it yet.<\/p>\n<\/blockquote>\n

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 \u201coutrageous\u201d returns.<\/p>\n

The Mad Money host opined:<\/p>\n

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I know miserable stock owners love company, but this crypto decline is the mother of all miseries, and I think it\u2019s a fitting coda to a horrendous quarter.<\/p>\n<\/blockquote>\n

\u201cCryptocurrencies of all kinds are still cascading with no real bottom in sight,\u201d Cramer claimed, noting that crypto \u201cis the opposite of a stable storehold of value.\u201d He recently said that he expects bitcoin to fall<\/a> to $12K.<\/p>\n

Noting that wage inflation is the remaining battleground for the Fed, Cramer concluded: \u201cThe stock market now reflects a lot of bad news \u2026 but the Fed\u2019s still dismantling the good and they\u2019ll keep doing it until the unemployment rate starts to surge, which I suspect will happen after one large, maybe 100-basis-point rate hike.\u201d<\/p>\n

What do you think about the comments by Mad Money host Jim Cramer? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA 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.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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