CarMax's Earnings Miss Is a Win in the Fed's Battle Against Inflation, Jim Cramer Says

CNBC's Jim Cramer on Thursday told investors that used car retailer CarMax's recent earnings shortfall is good news for the Federal Reserve's quest to tamp down inflation.

"When you look at this quarter from CarMax, it tells you the Fed's been incredibly successful at eroding consumer confidence," he said's recent earnings shortfall is good news for the Federal Reserve's quest to tamp down inflation. "When you look at this quarter from CarMax, it tells you the Fed's been incredibly successful at eroding consumer confidence," he said."[Fed Chair] Jay Powell doesn't want people to spend their money on big-ticket items."in its fiscal second quarter results reported on Thursday, citing macroeconomic issues including inflation and soaring interest rates.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

PHOTOS: Go inside this surprising waterfront home on the market in Kingwood for $770KPHOTOS: Go inside this surprising waterfront home on the market in Kingwood for $770K - KPRC2 hounews HTX Houston Texas realestate
Source: KPRC2 - 🏆 80. / 68 Read more »

Jim Cramer Says These 5 High-Yielding Stocks Have His Stamp of ApprovalThe two-year Treasury has surged to around 4.3%, which is a sign that the Federal Reserve will continue to raise interest rates aggressively, said Cramer. Great…then I will do the opposite
Source: nbcsandiego - 🏆 524. / 51 Read more »