{"id":128958,"date":"2021-06-15T23:31:02","date_gmt":"2021-06-15T23:31:02","guid":{"rendered":"https:\/\/precoinnews.com\/?p=128958"},"modified":"2021-06-15T23:31:02","modified_gmt":"2021-06-15T23:31:02","slug":"rising-oil-prices-put-feds-jerome-powell-in-a-tough-spot-amid-inflation-worries-jim-cramer-says","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/rising-oil-prices-put-feds-jerome-powell-in-a-tough-spot-amid-inflation-worries-jim-cramer-says\/","title":{"rendered":"Rising oil prices put Fed&#x27;s Jerome Powell in a tough spot amid inflation worries, Jim Cramer says"},"content":{"rendered":"<ul>\n<li>&quot;The surging price of crude \u2026 makes life difficult for Fed Chief Jay Powell,&quot; CNBC&#x27;s Jim Cramer said one day before the Federal Reserve&#x27;s key policy meeting.<\/li>\n<li>&quot;Even as many other commodities have actually now fallen, and some falling precipitously in recent weeks, oil just keeps going higher,&quot; the &quot;Mad Moey&quot; host said.<\/li>\n<li>&quot;Oil&#x27;s too powerful a negative for the press to ignore and I bet at some point he&#x27;ll say he&#x27;s monitoring it,&quot; which means to sell, Cramer said.<\/li>\n<\/ul>\n<p>Oil prices rose on Tuesday, setting up a challenging situation for the head of the Federal Reserve before Wednesday&#x27;s meeting, CNBC&#x27;s Jim Cramer said.<\/p>\n<p>&quot;The surging price of crude \u2026 makes life difficult for Fed Chief Jay Powell,&quot; Cramer said on &quot;Mad Money.&quot; &quot;Even as many other commodities have actually now fallen, and some falling precipitously in recent weeks, oil just keeps going higher.&quot;<\/p>\n<p>The comments come after the major averages all declined in Tuesday&#x27;s session ahead of the Fed&#x27;s monetary policy meeting. A Wall Street that&#x27;s keeping an eye on rising consumer prices will be watching closely as Powell is &quot;tormented&quot; with questions about inflation at the press conference, Cramer said.<\/p>\n<p>Traders are watching for any sign that the Fed will change course on inflation and adjust tapering plans.<\/p>\n<p>&quot;Oil&#x27;s too powerful a negative for the press to ignore and I bet at some point he&#x27;ll say he&#x27;s monitoring it,&quot; which means to sell, Cramer said.<\/p>\n<p>Powell has said he&#x27;s willing to let inflation, which shot up 5% in May, run a little higher than past years before acting to hike interest rates. The Fed has said it wants to let the U.S. economy and job market fully recover from the Covid-19 downturn before tamping down on inflation, asserting that it will be transitory.<\/p>\n<p>&quot;Tomorrow when the Fed gives its statement at 2 p.m., I don&#x27;t expect much change in the language, but the stock market says that oil&#x27;s leadership is so obvious that crude will clearly keep heading higher, and that means the Fed has to change course,&quot; Cramer said.<\/p>\n<p>&quot;The dirty little secret here is that higher interest rates won&#x27;t do anything to create more oil supply, but you&#x27;ll never hear that from the &#x27;inflationistas,&#x27;&quot; he added.<\/p>\n<p>Questions for Cramer?<br \/> Call Cramer: 1-800-743-CNBC<\/p>\n<p>Want to take a deep dive into Cramer&#x27;s world? Hit him up!<br \/> Mad Money Twitter &#8211; Jim Cramer Twitter &#8211; Facebook &#8211; Instagram<\/p>\n<p>Questions, comments, suggestions for the &quot;Mad Money&quot; website? madcap@cnbc.com<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/06\/15\/jim-cramer-rising-oil-prices-put-fed-in-tough-spot-amid-inflation.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&quot;The surging price of crude \u2026 makes<\/p>\n","protected":false},"author":3,"featured_media":128957,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Rising oil prices put Fed&#x27;s Jerome Powell in a tough spot amid inflation worries, Jim Cramer says - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/rising-oil-prices-put-feds-jerome-powell-in-a-tough-spot-amid-inflation-worries-jim-cramer-says\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rising oil prices put Fed&#x27;s Jerome Powell in a tough spot amid inflation worries, Jim Cramer says - 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