Fed Chair Powell could ‘walk back’ aggressive rate comments

Federal Reserve Chairman Jerome Powell could “walk back” his aggressive statements on interest rates, CNBC’s Jim Cramer predicted Wednesday.

“All he has to do is say, ‘You know what, I think that everything is on the table,'” Cramer said on “Squawk on the Street.”

If Powell were to say, “I’m paying attention to all the data,” then we would rally, added Cramer as Wall Street opened lower, and shortly after took a sharp 1.5 percent leg down.

The Fed didn’t immediately respond to CNBC’s request for comment.

Powell’s remarks last week sent bond yields soaring to seven-year highs and put pressure on the stock market because higher rates make equities less valuable.

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