The Fed’s goal is to put people out of work.

The cryptocurrency market has yet to find a new bullish direction. Bitcoin, for example, has already fallen more than 70% from all-time highs to today. For its part, the ether fell to 82%, approximately.

Analyzing this bearish behavior, Jim Cramerthe former hedge fund manager and current host of Mad Money, the CNBCconcluded that the United States Federal Reserve (Fed) is making progress in its war against inflation.

“There is one front in the war against inflation that has been an outstanding total victory for the Fed, and that is the battle against financial speculation.”mentioned the expert. “With the crypto immolation, the Fed’s job is almost complete, but they don’t seem to know it yet. They’re just preparing to put people out of work to make it clear that inflation is a thing of the past.”sentenced.

Product of the falls in the crypto sector, numerous related companies are facing a solvency crisis, layoffs and an exodus of investors they are selling their holdings. In this framework, Cramer said that “this cryptocurrency decline is the mother of all miseries” and claimed to believe “which is a suitable coda for a horrendous quarter”.

Later, the specialist emphasized that, although the Fed is defeating financial speculation, it still needs to control salary inflation and increase the unemployment rate to really win the war against rising prices in the economy.

“The stock market is now reflecting a lot of bad news, but the Fed is still undoing the good stuff and will continue to do so until the unemployment rate starts to rise, which I suspect will happen after a big rate hike, maybe 100 basic points”Cramer said.

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If the projection of the presenter materializes, the Fed would have raised interest rates 2.5% in the year. It should be remembered that, between March and May, there were two increases, one being 0.25% and the other 0.50%. Later, in June, the monetary entity increased them again by 0.75%.



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