'I'm not hearing people blame the Fed as much as they're blaming tariffs,' says CNBC's Jim Cramer.
"Most of the companies I've talked to, Mr. President, are saying [the slowdown] is because of your tariffs," Cramer said on "Cramer's reaction was toTrump has been a vocal critic of the Fed and its chairman,, whom he nominated, since central bankers raised interest rates four times last year. The president has repeatedly called for the Fed to cut rates.
That's a move that Wall Street thought New York Fed President John Williams was indicating Thursday, after he said the central bank needed to "act quickly" in times of economic distress. However, a spokesperson later said Williams was drawing from research,Even though Wall Street is considering a Fed cut to be almost certain later this month, it's Trump's tariffs that companies are remembering, Cramer said.
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