Hey, I'm Kramer. Welcome to a special West Coast edition of Mad Money. Are the people

want to make friends? I'm just trying to make you some money. My job is not trying to

just entertain, but I'll say to educate and teach them with things like this in context.

So call me at 1-107-3CBC or tweet me at Jim Kramer. Well, we're starting a little late

tonight, but we're watching President Trump and we're going to put what he said into context

for you. So everyone on Wall Street knows that higher richest rates are bad news for

the economy. A slower economy translates into weaker profits and weaker profits almost

always mean lower stock prices. That's money management 101 for you.

Yep, when the Federal Reserve tightened today for the eighth time in a row, raising short

term rates by a quarter point, initially the stock market actually rallied as the bulls

bleed that the Fed chair, Jay Powell, is doing the right thing for corporate profits, the

real and part of. It was a total infead we trust moment and it lasted for all of say about

a half or 23 minutes. Once the press conference got going with the Fed chief, the sellers

took control of the narrative and the market got slim and the Dow only lost 107 points,

S&P shedding 0.33%, and that's that decline 0.21%. It was like we had two entirely different

markets here today. There's the bullish one where almost nobody seems to care about the

Fed rate hike and some seem to rejoice at the prospects of a sign that the economy must

be really strong or else the Fed wouldn't be moving and there's one where the, it's just

called a bearish one where investors got worried that profits could be crimped and decided

to ring the red shirt. I get it. President Trump said he wasn't happy with the Fed's move.

But President, what's a weaker economy? He'd rather than focus on job creation, even

some were near full employment. So which move was telling the truth? I think the first

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