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CNBC’s Jim Cramer on Friday said he feels the Federal Reserve needs to be transparent with its plans, especially in the wake of restaurant chain Cava‘s highly successful IPO, which he believes is a sign the market is heating up.
Cramer thinks a prosperous IPO market could lead to an influx of money on Wall Street and a hiring frenzy, the last thing the Fed wants when it’s trying to cool off the economy.
“The Fed needs to stop being so broad and opaque; what we need from them is narrow transparency,” he said. “Otherwise, the animal spirits will kick in again and companies will start going on a hiring binge, which is the last thing the Fed wants.”
He acknowledges that some may argue the…
Source cnbc.com
