CNBC’s Cramer Says Fed Chair Powell ‘Is Winning’ on Inflation ‘Yet We Never Hear That Narrative On Air’

CNBC anchor Jim Cramer told co-anchor David Faber that Federal Reserve Chairman Jerome Powell “is winning” his fight against inflation in many ways, but “we never hear that narrative on air.”

On Wednesday morning’s edition of CNBC’s Squawk on the Street, Cramer and Faber talked about Powell’s visit to Capitol Hill, and the effects of his inflation-fighting measures.

Faber teed Cramer up by citing weak futures and Powell’s visits to the Senate and House, and asked for his take.

JIM CRAMER: The weakest group’s oil. And I’m wondering, as we talk about the 80% possible tax holiday on oil, the otherworldly nature of President Biden not really paying attention to the markets. Oil’s giving back quite a bit. It was a bear market sudden.

DAVID FABER: Very strange. Is it is it just because people expect a recession and therefore a significant slowdown in demand?

JIM CRAMER: Yes. And I think that we should recognize in some venues Powell is winning. I mean, Powell goes to the Hill. Now, oil can spike, of course. But there are some things that are coming down. And I think it’s worth noting that the thing that was most visible that is, that Biden is just kind of like talking about that doesn’t make sense is, oil is in freefall. And it tells me, David, like, for instance… Exxon stock is down big and it’s been down for week.

Cramer went on to tell Faber that “the futures are indicating that gas is down, oil is down,” which he said makes him question “whether we should go all in on the inflation thesis when we do have some things that are working.”

“True,” Faber agreed, adding that “you do have to wonder if this continues, what that will mean for the overall inflation hype picture. Not to mention to your point that Powell is sort of getting a little bit of what they may want.

“I’m seeing, David, over and over again, things that indicate that Powell conceivably could be winning, and yet we never hear that narrative on air,” Cramer said.

Watch above via CNBC.