Jim Cramer's Take On This Week's Economic Data, Earnings Release: Fed 'Talk Is Better Than Action'

Prominent market commentator Jim Cramer has said the Federal Reserve needs to talk the big game without needing to do too much as endless rate hikes will destroy everything in its path. “Talk is better than action. We want [Fed Chair Jerome Powell] to scare the economy into slowing under its own weight,” Cramer said according to a CNBC report.

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He also analyzed the economic data and earnings scheduled for the week. Here’s a look at his take:

1) Economic Data:

Housing starts: Cramer observed that concern surrounding the U.S. economy makes it unlikely November housing starts will be robust.

November personal consumption expenditures (PCE) price index: Cramer said if the PCE data suggests inflation is “still burning hot,” the central bank may need to keep its foot on the gas.

2) Earnings:

General Mills, Inc. GIS: Cramer said General Mills has a tough setup in earnings. However, the company has been able to raise prices because its cereal brands are beloved, he observed, according to the report.

FedEx Corporation FDX: A post-earnings sell-off could create an opportunity to buy FedEx shares, Cramer said.

Nike Inc NKE: Nike has witnessed a spate of analyst upgrades lately. Cramer believes this could be attributed to analysts trying to get out ahead of the Chinese economy’s full-scale reopening.

Carnival Corp CCL: Cramer said he expects Carnival management to still sound bullish.

Cintas Corporation CTAS: Cramer said the company is an interesting barometer for the overall state of small and medium-sized enterprises.

Micron Technology Inc MU: Cramer said if the company indicates there is still a glut, semiconductor stocks could see another leg down.

Photo: Courtesy of Scott Beale on Flickr

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Posted In: EarningsNewsFederal ReserveMarketsJerome PowellJim Cramer
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