Did Cramer Call For an October Fed Rate Cut?

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By Douglas A. McIntyre Published

On tonight’s MAD MONEY on CNBC, Jim Cramer said the FOMC meeting today was good after he considers it and was actually reassuring for 3 reasons: It is good to hear the economy hasn’t fallen apart, good to hear no new news, and the statement today showed that the Fed has at least gotten out of the clueless phase.  Cramer said this let’s the FOMC look at a potential rate cut potentially in October rather than the Fed keeping the bias the way they had toward inflationary risks. 

At the next meeting he thinks inflation will be on the back-burner in September and then it could even consider a rate cut in October.  But Cramer said he thinks the financial lenders and the homebuilders may actually sell off again.  He’d use the strength today and yesterday to sell those before they go back down.  Cramer said to buy aerospace and defense, but he thinks that tech will be great from here after Cisco Systems (NASDAQ:CSCO) rocking good earnings conference call.

Jon C. Ogg
August 7, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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