Cramer during Wednesday’s Stop Trading! defended Ben Bernanke’s leadership of the Federal Reserve, saying the chairman “has done remarkable work.”
“He didn’t let a depression happen,” Cramer said of Bernanke, “and he is not going to let us slip back” into a recession.
Some critics claim the central bank, which today held interest rates steady at between 0% and 0.25%, should be more concerned about inflation. Cramer mentioned that others question today’s announcement, arguing that rates should have been increased if the economy shows signs of improvement. And still other critics worry about the end of the Fed’s aid programs, the Mad Money host said.
Cramer urged viewers to trust Bernanke, telling them the Fed chair will adjust his strategies according to the economy and markets. While the outlook certainly is brighter than before, there’s no guarantee yet that we’re in the clear. Bernanke is allowing for that.