Notice: Array to string conversion in /home/u931628290/domains/ on line 433

Jim Cramer says the economy is headed for a soft landing

Must read


Cramer says he's betting with Fed Chairman Jerome Powell

CNBC’s Jim Cramer on Monday told investors that he thinks the Federal Reserve will steer the economy to a soft landing.

“The only outcome is a soft landing for the economy, which means it’s foolish to sell now since you’ll only end up buying back those same stocks at higher levels in order to get in ahead of the turn in 2024,” he said.

related investing news

Markets may be taking the wrong read from January's shocking jobs report


Stocks fell on Monday as investors grew cautious of rising bond yields. Treasury bond yields gained, with the 10-year yield up by nearly 11 basis points at 3.64% and the 2-year yield rising about 18 basis points to 4.48%. Yields and prices move inversely.

Cramer, who has said in recent weeks that the market is in bull mode, doubled down on his stance despite the worrying moves in bond yields.

“I’d even go as far as to say that the bond market’s wrong … long-term bond yields are lower than short[-term] ones, signaling a recession, and I think that’s simply incorrect,” he said.

Cramer added that a key reason he doesn’t expect a hard landing is the stronger-than-expected January jobs report. Nonfarm payrolls grew by 517,000 last month, far surpassing the Dow Jones estimate of 187,000 and December’s gain of 260,000.

“That number unequivocally supports the notion of a soft landing. You simply can’t get a hard landing when you’re seeing this much job creation,” he said.

Jim Cramer says the economy is headed for a soft landing

Jim Cramer’s Guide to Investing

Click here to download Jim Cramer’s Guide to Investing at no cost to help you build long-term wealth and invest smarter.


Source link

- Advertisement -spot_img

More articles

- Advertisement -spot_img

Latest article