The stock market's decline might be furthered by the effects of President Donald Trump's tariffs on Chinese goods, CNBC's Jim Cramer said — but consumers could get a break.
"I do think that retailers will to have to eat some of the costs of the president's tariffs; they won't all be passed on to the consumer," the "Mad Money" host said. "But that's bullish for the consumer and a welcome antidote to inflation, even as it stinks for the retail stocks."
Most of all Cramer's just waiting for the Federal Reserve to get the message he's been shouting from the rooftops: "the economy can take care of itself."
"Look, I'm not some kind of laissez-faire zealot. Far from it," he told investors. "However, on some level, markets are self-regulating. This stuff is basic economics 101."
"Part of the strength of this economy is based on the strength of the stock market. It has a tremendous wealth effect, which allows people to spend more," Cramer explained. "You wipe out a big chunk of that wealth, you're going to see less spending and thus less inflation."
Click here for more of his take on the Fed.