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CNBC’s Jim Cramer on Tuesday implored investors to stay away from speculative assets such as cryptocurrencies, warning that they will continue to struggle during the ongoing Federal Reserve tightening cycle.
“Look, Fed chief Jay Powell told us that we need to stop doing stupid things with our money. That was the thrust of his speech on Friday,” the “Mad Money” host said, referring to the top U.S. central banker’s Jackson Hole address, in which Powell warned the Fed’s commitment to squashing inflation could bring “some pain” to American businesses and households.
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