If the employment numbers on Friday are anything like the number that Automatic Data Processing (ADP) reported on Wednesday, Jim Cramer expects the Federal Reserve to add yet another rate hike to its plan this year.
"We are staring right in the face of not one, not two, maybe not even three, but four rates hikes from the Federal Reserve," the "Mad Money" host said.
ADP is the largest payroll processor in the U.S. and can often foreshadow the non-farm payroll data reported by the Labor Department. ADP reported 298,000 jobs in the private sector for the month of February, surging past the expectation of 190,000.
Despite the strong results from ADP, Cramer noted that many investors seemed eager to sell stocks on Wednesday.
"People just got too bored or too antsy or too frightened to keep the ship afloat, so they surrendered when they should have kept fighting," Cramer said.
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