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Jim Cramer says strong January jobs report shows the economy can handle more rate hikes - CNBC

Jim Cramer says strong January jobs report shows the economy can handle more rate hikes - CNBC

Jim Cramer says strong January jobs report shows the economy can handle more rate hikes - CNBC
Feb 04, 2023 42 secs

CNBC's Jim Cramer on Friday said that the January jobs report shows that the economy will remain resilient, despite the Federal Reserve's interest rate hikes.

"My take is that the comeback from the initial negative reaction in the stock market today, before a move lower in the afternoon, has to do with faith.

The strong economic data comes after the Fed on Wednesday raised interest rates by a quarter percentage point.

Chairman Jerome Powell signaled that the central bank isn't done raising rates despite economic indications that inflation is cooling down.

Cramer said that while the Fed still wants to tamp down inflation more, he believes a severe recession is "near impossible"with job growth being so strong.

CNBC's Jim Cramer said that the January jobs report shows that the economy will remain resilient, despite the Federal Reserve's interest rate hikes.

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