Jim Cramer Tells Investors To 'Get To The Claw And Try To Grab Some Winners' Instead Of 'Worrying Endlessly' About Fed

The latest decision by the Federal Reserve to keep rates steady has been met with optimism by CNBC’s Jim Cramer, who advises investors to shift their focus to earnings instead of the rate cuts.

What Happened: Cramer expressed confidence in the market following the Federal Reserve’s decision to maintain its benchmark overnight borrowing rate between 5.25% and 5.5%, CNBC reported on Wednesday.

This range, which has been in place since July 2023, marks the highest level in over 23 years. Any potential rate cuts later this year would be the first since March 2020. The decision was well received on Wall Street, with the three major averages closing at record highs.

"We aren't fighting the Fed. Get to the claw and try to grab some winners,” Cramer said.

"The important thing is that we can afford to think about earnings again, rather than worrying endlessly about the Fed's next move. A lot of people want to play that parlor game, I prefer trying to make money in the market, and for that the earnings are what truly matter."

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Why It Matters: The Federal Reserve’s decision to maintain interest rates aligns with previous indications of three anticipated rate reductions in 2024, consistent with projections from December 2023. This decision, coupled with an upward revision of growth projections to a median rate of 2.1% for the current year, has bolstered investor confidence and driven Wall Street indices to record highs.

Ahead of the FOMC meeting, investors assigned a 60% chance of a first-rate cut in June, followed by additional cuts in September and December.

Read Next: Stocks Hold Steady Ahead Of Fed Meeting, Oil Eases, Bitcoin Rebounds: What’s Driving Markets Wednesday?

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