The recent economic data suggests a cooling economy, which may reduce the significance of the minutes from the Federal Reserve’s last meeting. This was pointed out by CNBC’s Jim Cramer, who noted that inflation could be decreasing faster than expected. If the Fed fails to acknowledge this, more days of market decline could be expected.
Since the release of the Fed minutes, new data has been released that could potentially change the Fed’s outlook. The consumer price index was weaker than anticipated, and labor reports indicated a slowing economy. Cramer highlighted that oil prices are declining and copper prices dropped significantly.
Cramer stated that if the Fed had access to this data before their last meeting, there might have been less concern. He also mentioned that the recent information could have led to more positive minutes being released. Additionally, Cramer pointed out that the consumer-oriented market experienced a victorious day due to the new economic data that indicates a less concerning inflation rate.
