Jim Cramer Says ‘Astounding’ Inflation ‘Much Worse’ Than Thought: ‘Just Unbelievable’
CNBC on Wednesday spoke with hedge fund manager and Robin Hood Foundation founder Paul Tudor Jones, who said that inflation is “much worse than we fear.” A short time later on Squawk Box, CNBC’s Jim Cramer agreed with Jones’ assessment, and added a few more dire words to the mix.
Host Rebecca Quick asked Cramer about inflation, a major topic of the day in finance.
“Let’s talk about inflation and where things stand right now,” she said. “Let’s talk about the questions that investors are kind of wondering right now. If you’re worried about inflation, it’s a huge, huge issue.”
Cramer agreed it’s a huge issue. He also brought up Jones talking about it earlier in the day and agreed with that, too.
“Yeah. I mean, look, I think Paul Tudor Jones, as always, is right about inflation. It’s much worse than we thought,” he said. “I keep hoping that the capacity will come on and make it so that it’s not as bad, but it just can’t seem to come on as fast enough.”
“For instance, I was going over it with my friend Frank Mitsch, who’s got his own firm, chemicals, and it’s just unbelievable,” he continued. “Fermium is using numbers that are just astounding and it makes you feel like that Procter is not going to be able to get out of a jam, Procter being the one that yesterday focused the most on inflationary inputs.”
Cramer was referring to inflation data from Fermium Research, an investment research and advisory company.
Throughout the full conversation, Cramer and Quick repeated several times the huge impact, and much worse situation with regard to inflation than anyone was expecting or has even fully realized.
Watch the clip above, via CNBC, or the full interview on YouTube.
Below, a portion of the interview with Paul Tudor Jones earlier today on CNBC.
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