Cramer says steer clear of speculative investments like crypto as Fed remains hawkish | Crypto

Cramer says steer clear of speculative investments like crypto as Fed remains hawkish

– Jim Cramer urges investors to stay away from speculative assets such as cryptocurrencies, warning that they will continue to struggle during the ongoing Federal Reserve tightening cycle.
– Cramer believes that Fed chief Jay Powell’s Jackson Hole address signals that the Fed is committed to squashing inflation, which could bring “some pain” to American businesses and households.
– Wall Street has finished lower in three straight sessions as investors digest Powell’s Friday morning remarks.
– Cramer believes that Powell is “going to bring the pain until it puts an end to the gambling.”
– According to Cramer, speculative parts of the market to avoid include cryptocurrencies, money-losing firms that went public via special purpose acquisition companies, and meme stocks.

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