CNBC’s Jim Cramer on Wednesday said that Congress’s two behemoth spending bills have him worried about inflation’s trajectory.
“I’m still a bull — I’ve felt bullish since June when I saw commodities were going in the right direction. And I’d be very confident about wage inflation, too, if not for Congress,” the “Mad Money” host said.
“If the re-branded stimulus bill doesn’t pass, we’ve got nothing to worry about, but if it does, we can only hope that it takes years and years for the government to put that money to work,” he added, referring to the Inflation Reduction Act of 2022.
The bill represents a move from Democrats to reform the tax code, battle climate change and reduce health care costs. The bill, which is a revival of President Joe Biden’s Build Back Better bill, will invest over $400 billion and reduce the deficit by $300 billion over a decade-long period.
Cramer said that…