celebrities market commentator Jim Cramer Said just because the market is suffering, investors shouldn’t expect it federal reserve protect the economy and still do it Jerome Powell not specifically trying to send stock prices down, saying he “won’t shed any tears about it.”

“Investors need to learn that the Fed is not your friend, not your buddy – if anything, it is your enemy, at least until then [Chair] Jay Powell is finally beating inflation,” he said according to to a CNBC report.

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Major Wall Street indices closed over 2% lower on Thursday on recession fears after retail sales in the United States steepest drop in almost a year last month. On Wednesday the federal reserve had forecast rate hikes through next year with no cuts through 2024 in his policy announcement.

The Nasdaq closed 3.23% lower while the Dow fell 2.25%, marking its worst day in three months. That SPDR S&P 500 ETF Trust SPY 2.45% closed lower while the Vanguard Total Bond Market Index Fund ETF BND closed 0.054% higher.

“Powell couldn’t have made it clearer that … not only is he trying to stabilize prices at these levels, he wants to reverse the price increases of the past few years,” Cramer said.

The market commentator explained the main task of the central bank to curb inflation and recalled that she plans to raise interest rates until prices drop significantly. “While [Powell’s] He’s not explicitly trying to send stock prices down, he certainly won’t shed tears about it. If anything, lower stock prices are a win for the Fed,” Cramer said.

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