Stop pinning this rally on the Federal Reserve, Jim Cramer told his Mad Money viewers Tuesday. Sure, lower interest rates are helping the economy, but the Fed’s contribution pales in comparison to the effects the child tax credit is having on retail or what the new infrastructure bills means for American manufacturing.
That’s why Cramer went right to the source, speaking to Leon Topalian, president and CEO of steelmaker Nucor (NUE) – Get Report, to find out exactly what today’s infrastructure bill means for our economy.
Topalian said that America hasn’t had a meaningful infrastructure investment in decades, which makes Tuesday’s news a big deal. The U.S. must invest in order to stay competitive, he said, and the pandemic only proved how important it is to make vital products here at home.