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We recently published a list of Jim Cramer Says Trump’s Fed Chair Tussle Is Like “The Godfather” & Discusses These 10 Stocks. In this article, we are going to take a look at where Johnson & Johnson (NYSE:JNJ) stands against other stocks that Jim Cramer discussed.
In a recent appearance on CNBC’s Squawk on the Street, Jim Cramer discussed whether President Trump could fire the chairman of the Federal Reserve, Jerome Powell. The President is an ardent supporter of low interest rates, and in his recent comments, he asserted that Powell has to reduce rates. However, this particular program wasn’t the first time Cramer discussed the possibility.
In fact, he first raised the possibility in a program aired in late March. We covered Cramer’s remarks as part of our coverage of Jim Cramer Discusses These 10 Stocks & Wonders If Trump Will Try Firing The Fed Chairman. Back then, the CNBC TV host linked the President’s potential action against the Fed chair with the recent dismissals of officials from the Federal Trade Commission.
Cramer commented:
“Look, uh, there is a. . .theme here. You fired two Democrats. In the FTC. No one knows what to do. If he can fire two, if he can fire two from the FTC, he can fire Powell. Now doesn’t matter whether it’s legal or not. I thought Peggy Newton had a great piece today, talking about President Jackson. Now we’re really going back, even before McKinley, which is somehow the North Star for this administration. And I think people are just worried that Powell will be fired cause he’s not cutting rates. And I think that all of that we just heard is irrelevant. What matters that as long as there’s a belief that despite Fed chief Powell saying twice that he’s not going anywhere, as long as there is a belief that President Trump may actually have this . . where he can fire anyone, no one’s safe.”
He added that potential action against Powell might have been priced into the markets as Cramer believed stated: “I’m not saying that he will do this. I am saying that since the FTC. . .look if he took it off the table you would see the futures positive right now.”
Cramer maintained the theme in his latest remarks. When his co-host asked him if it was legally possible for the President to take action against Powell, he commented: “I mean they fired, look, I mean he fired these two FTC people. You’re not supposed to be able to do that.”
Commenting further on the legal aspects, Cramer outlined:
“And there you could say that look Chevron allows me to do it. That Chevron decision. I mean what happens when he comes out and he goes to Truth Social and he says that I’ve decided to run a third term. I mean there’s enough people in the government who would say, yeah, okay.”