The U.S. Federal Reserve on Tuesday announced it will hold steady on monetary policy while acknowledging a mildly brighter economic outlook. Ending a one-day policy meeting, the Fed said recent financial market strains have eased while offering few clues on the chances for further monetary easing.
U.S. stocks ended sharply higher on Tuesday, but “Mad Money” host Jim Cramer said he’s “sick and tired” of hearing about the Fed’s monetary policy and its impact on stocks.
“I’m disgusted that people keep trying to pin the tail of this market’s strength on the Fed,” Cramer said. “I’m bored by the parlor game of Operation Twist. I have no desire to hang on the Fed’s every word.”
It’s not the Fed, but earnings that move the markets, Cramer said. He argued that investors should start looking at companies’ earnings and the trajectory of those earnings.
Instead of worrying about the possibility of further action by the Fed, Cramer recommends getting off the sidelines and investing in stocks again. If recent earnings are any indicator, he thinks this market has more upside to come.
—Reuters contributed to this report
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