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Jim Cramer explains what's at stake for consumers in the May jobs report

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'Wall Street may be rooting for a weaker job market so that the Fed can start cutting rates, but keep in mind what you're betting against,' Cramer said.

On the eve of the May jobs report, CNBC's Jim Cramer reminded investors what's at stake for consumers.

"Wall Street may be rooting for a weaker job market so that the Fed can start cutting rates, but keep in mind what you're betting against," he said.reminded investors about the tricky balancing act the Federal Reserve is attempting to pull off — bringing down inflation without seriously damaging the economy.

"I want higher stock prices, too, but if we get multiple rate cuts and inflation comes roaring back, it's the have-nots who'll get hurt," he said. "That's why the stakes are so high for the Fed. It can't afford to cut rates until there are more people out of work, but, at the same time, it doesn't want to cause mass layoffs — difficult position."

 

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