The market got absolutely slaughtered Friday. You could say it was because of the weak jobs number, but Cramer doesn’t think that’s the half of it. He believes the market tanked because the Fed didn’t listen when he called for a rate cut.
But thanks to this abysmal jobs number – the Street expected 100,000 new jobs, instead we lost 4,000 – the Fed is now listening, Cramer said. “They now know we could be staring at a recession.”