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Cramer bashes Trump for mocking Fed Chair Powell — 'I wish the president would shut up'

Key Points
  • CNBC's Jim Cramer says he agrees with President Trump that the Federal Reserve should stop raising rates.
  • But the "Mad Money" host wishes the president would stop talking about it.
  • Cramer also chastises Trump for "poking fun" at Fed Chairman Jerome Powell in a Wall Street Journal interview.
The days when the president can talk the market up are no longer upon us, says Cramer

CNBC's Jim Cramer said Wednesday that he agrees with President Donald Trump that the Federal Reserve should stop raising rates. But the "Mad Money " host would like the president to stop talking about it.

"I wish the president would shut up," said Cramer, reacting to Trump mocking Fed Chairman Jerome Powell in a Wall Street Journal interview published Tuesday.

The president told the Journal that Powell "almost looks like he's happy raising interest rates."

Trump is now just "poking fun" at Powell, Cramer said on "Squawk on the Street," chastising the president's personal attacks.

The president has repeatedly slammed the Fed chairman this month, saying that the central bank is increasing rates too quickly and that stronger economic growth won't lead to problematic inflation.

Cramer has also been critical of the Fed in recent weeks, arguing against further rate hikes. But unlike Trump, Cramer thinks central bankers should stop because the economy may not be as strong as it appears.

The Fed has already hiked rates three times this year, with one more expected in December. Earlier this month, Powell said rates are a long way from so-called neutral, a level neither accomodative nor restrictive to the economy.

Those comments from Powell touched off rate worries on Wall Street, which led to several days of heavy selling in the stock market.

Cramer on Wednesday also suggested the president may have made a mistake when he "fired" Powell's predecessor, former Fed Chair Janet Yellen, who raised rates at a slower pace.

Trump may feel that way too, but would never admit to being wrong, Cramer said.

The White House did not immediately respond to CNBC's request for comment.