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Investors dumping stocks on Fed policy are making a mistake, Jim Cramer says



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CNBC’s Jim Cramer said Thursday that it’s a mistake to dump stocks in reaction to the Federal Reserve’s decision to leave the interest rate unchanged.He defended Fed Chairman Jerome Powell, who the day prior maintained the central bank’s goal to keep short-term borrowing rates low to support the U.S. economic recovery, even if inflation picks up in the near term.”Higher rates are bad for the economy. Powell doesn’t want us to take that hit if we don’t have to,” the “Mad Money” host said. “He doesn’t want his legacy to be botching the recovery … [not after he] …

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