We recently published a list of Jim Cramer Discusses These 10 Stocks & Wonders If Trump Will Try Firing The Fed Chairman. In this article, we are going to take a look at where NIKE, Inc. (NYSE:NKE) stands against other stocks that Jim Cramer discussed.
In a recent appearance on CNBC’s Squawk on the Street, Jim Cramer commented on investor worries about lower economic growth and rising inflation. The phenomenon is called stagflation, and Cramer believes that the fears are unwarranted. According to him:
“Well look, when you go over how many times you mention inflation. When you go over how many time you mentioned economic weakness, you could easily craft a story which just says this is the worst possible economy. I come back and say look, we have created a level of negativity in this country that is extraordinary. I don’t think anyone’s really hiding that.”
Another key player in the economy and the stock market has been the Federal Reserve. Interest rates are still high after a record hiking cycle in 2022. For Cramer though, one concern is that President Trump might take aim at Fed Chairman Jerome Powell as the central bank is not lowering rates despite the President’s insistence:
[When asked what he would like the Federal Reserve to do] “Look, uh, there is a. . .theme here. You fired two Democrats. In the FTC. No one knows what to do. If he can fire two, if he can fire two from the FTC, he can fire Powell. Now doesn’t matter whether it’s legal or not. I thought Peggy Newton had a great piece today, talking about President Jackson. Now we’re really going back, even before McKinley, which is somehow the North Star for this administration. And I think people are just worried that Powell will be fired cause he’s not cutting rates. And I think that all of that we just heard is irrelevant. What matters that as long as there’s a belief that despite Fed chief Powell saying twice that he’s not going anywhere, as long as there is a belief that President Trump may actually have this . . where he can fire anyone, no one’s safe. And I think again, that’s what at stake. I mean if you want to know what’s at stake with the Federal Reserve in terms of what they’re saying, sure you could say they’ve got some stagflation. I think the most important thing Steve said was, in the end that he thinks that’s 11% of the economy, it’s important, I’m just getting 12 to 15. But I think that Powell’s in play. And he shouldn’t be. But what is it, the Justice Department, some people say on the left, is owned by the President. So I mean, how many divisions does the Supreme Court have.”
