CNBC’s Jim Cramer said a pair of major investment concerns have been resolved in the near term, suggesting that’s a reason for the stock market’s Wednesday rally.
“While I’ve still got plenty of worries, two of the biggest have now been taken off the table,” the “Mad Money” host said, after the Dow Jones Industrial Average and S&P 500 snapped four-session losing streaks.
One resolution came from the Federal Reserve, which maintained its highly accommodative monetary policy after the central bank’s policymaking arm held a two-day meeting. That meant the investors who were concerned the Fed may announce a policy tightening due to high inflation were proven wrong and needed to respond, Cramer said.
“If you were one of the inflation hawks who thought the Fed would have to take a tough line today, then you have to go buy stocks now because [Fed Chairman Jerome] Powell … has put the concerns to rest,” Cramer said, explaining that money managers cannot “refuse…