Cramer: Earnings suggest business and consumer economies are 'out of sync'

"We need Fed chief Jay Powell to listen to last night's big bad conference call from CSX," CNBC's Jim Cramer says.

"Based on what's happening in the consumer economy, you could easily make the case for more rate hikes here," the "Mad Money" host says. "I can't think of another time … where the consumer was in such great shape while the industrials were in so much trouble," he says. There are two economies at play right now and "right now they're out of sync" based on the earnings results that Wall Street has seen thus far, CNBC'sThe American consumer is still strong, as evident in the results the banks are posting, but the railroad companyShares of CSX fell more than 10% in the session after the transport giantin the second quarter.

Cramer: Earnings suggest business and consumer economies are 'out of sync' via YouTube

Recession is coming.

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