"The fact is, I do have a better handle on the situation than the Fed does, just like in 2007," Cramer said on "Mad Money" Wednesday evening. "Oh, I hate to show such hubris on this show, or anywhere or at home. But I am sick and tired of a Fed that reverts to a non-rigorous, non-homework-oriented approach every time things look good. It's like they unlearned all the lessons of the Great Recession."
In 2007, Cramer sounded off on then-Fed Chairman Ben Bernanke and then-central bankers for ignoring signs of the impending financial crisis. "They're nuts. They know nothing," Cramer blasted at the time.
Cramer, in recent days, has been stepping up his criticism of the current Fed, blaming Powell and other policymakers for not looking more closely at the economic data before announcing its lockstep interest rate hike plans.
Powell's remarks last week about monetary policy being a "long way" from neutral signaled a possibly more aggressive path for rate hikes, sparking a spike in bond yields to seven-year highs and applying pressure on stocks.
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