{"id":42666,"date":"2022-06-08T23:39:08","date_gmt":"2022-06-08T23:39:08","guid":{"rendered":"https:\/\/harchi90.com\/the-market-is-worried-that-oils-rise-may-cause-a-recession\/"},"modified":"2022-06-08T23:39:08","modified_gmt":"2022-06-08T23:39:08","slug":"the-market-is-worried-that-oils-rise-may-cause-a-recession","status":"publish","type":"post","link":"https:\/\/harchi90.com\/the-market-is-worried-that-oils-rise-may-cause-a-recession\/","title":{"rendered":"The market is worried that oil’s rise may cause a recession"},"content":{"rendered":"
CNBC’s Jim Cramer broke down why oil’s skyrocketing price has Wall Street worried about a recession, pointing to the fall in oil stocks on Wednesday even as crude hit record levels.<\/p>\n
“As long as oil prices keep climbing, it’s hard to make the case for a soft landing. Oil’s a nightmare for the Fed. It reverberates throughout the whole economy, and there seems to be no stopping it,” the “Mad Money” host said. <\/strong>“Every time crude goes up, so do the odds of a recession,” he added.<\/p>\n Oil prices reached a 13-week high on Wednesday. While energy names in the S&P 500 recorded a slight gain, only a handful of the stocks were positive.<\/p>\n “I don’t believe in the stagflation thesis,” Cramer said, referring to when the economy undergoes a slowdown while inflation and unemployment run high. “Ideally, we can wangle our way out of energy inflation with more supply” from American producers.<\/p>\n Cramer said that if prices continue to climb, that could lead to demand destruction, which in turn could lead to a recession as consumers pull back on spending overall – which means trouble for the economy and policymakers.<\/p>\n “Even if we don’t get a lot more supply, the price of oil will eventually come down simply from demand destruction. But if it’s done that way, we could be in for a miserable, long, hot summer,” he added.<\/p>\n<\/div>\n<\/div>\n .<\/p>\n","protected":false},"excerpt":{"rendered":" CNBC’s Jim Cramer broke down why oil’s skyrocketing price has Wall Street worried about a recession, pointing to the fall in oil stocks on Wednesday even as crude hit record levels. “As long as oil prices keep climbing, it’s hard to make the case for a soft landing. Oil’s a nightmare for the Fed. It …<\/p>\n