Hey, I'm Kramer.

Welcome to MADMENTMENT.

Welcome to Kramark. Welcome to Kramer. I'll be only friends I'm just trying to make you little money. My job, not just to entertain, but to educate, teach it. Call me at 1007 for 3. CBC. We meet me at Jim Kramer. Maybe you hate Shapal. Maybe you love him. Maybe you have no idea who he is.

Regardless, what you need to know is that he's in charge of the Federal Reserve.

So he controls what's known as short rates.

That means the short-term interest rates there are, like the ones you borrow today and pay me back to bar.

The president points the head of the Federal Reserve, but in this case, it was President Trump who hired Powell during his first term.

Trump now thinks Powell's doing a terrible job because he won't cut interest rates.

So the president takes jabs at him every chance he gets.

Unfortunately, this presidential obsession has a lot of impact on the markets.

Today, for example, we got hit on rumors that Trump will fire

Powell, and then the market came back when the president said it's not true. Dow ultimately gaining

21 points has to be advancing 0.32%. Now, that's that climbing 0.25%. Now, I thought the sell-off on the

rumor and the sharp rally on the news of the president letting Powell loan was dispositive. And I'm going to tell you why. Buy, boy, bye, bye. The president wants Powell out. But when we got a whiff of the rumor that he'd take action, longer-term interest rates went up with the sacred 30-year treasury going from 4.97% to 5.07. Now, it's done in an hour.

I know it's small, but you know the direction.

Directions for your straights to go higher.

Bad.

At the same time, the S&P 500 went from 6,254 to 6,201 on the rumor.

But then rally back to 6263 after the denial.

Good. So clearly the stock and bond markets don't want Powell getting ousted.

Isn't that?

That's night and day, right there.

...