The Fed raised interest rates by 75 basis points on Wednesday and signaled that it will continue its aggressive campaign against inflation.
Cramer acknowledged that there will be pain ahead for the market, and advised investors to bet with the Fed if they want their portfolios to stay intact in the long term.
People who believe in Powell's vision — whom Cramer calls the silent majority — understand the central bank has to increase interest rates to avoid pain even further down the line, he said. "The silent majority wants to be able to buy a house at a reasonable price without having a bidding war over it," he said."The silent majority knows that their stocks are going to be worth less when they retire if Powell doesn't act now."at no cost to help you build long-term wealth and invest smarter.Disclaimer
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