Fox News host Sean Hannity went after CNBC’s Jim Cramer after he suggested inflation has peaked.
On Tuesday, there were reports that inflation struck 8.5% year-over-year in March. It’s the loftiest such number since 1981. However, despite these numbers, Cramer stated he could argue that inflation would decline.
“Overall, I think people are going to start making – and the market’s making a case – that this is the last bad number,” Cramer said. “Freight is going in the right direction, used car going in the right direction.”
“You don’t have food going in the right direction yet. Hourly wages may be peaking. You have mortgages obviously making a slow down… I can make a strong case we may have peak inflation in a lot of different areas.”
Hannity played a montage of clips of Biden administration officials urging that the inflationary pressure is “transitory.” Furthermore, the Fox News host also blamed the media for repeating the transitory “lie.”
“The media mob is more than happy to give them cover,” he said. “One example: for months, CNBC analyst – you know this guy Jim Cramer over at CNBC? – dutifully telling his viewers inflation has officially peaked only to be proven wrong over–again and again and again.”
Hannity continued to hammer Cramer, pulling up an article snippet from February, displaying that the CNBC host suggested inflation may have peaked.
“He keeps getting it wrong,” Hannity continued. “And as per usual, Jim Cramer, he kind of looks like an idiot and inflation continues to rise, and I do have a question: I watched the show, Mad Money, I think he calls it. Why anybody would ever take the financial advice from that guy is beyond any understanding that I actually have.”
Nonetheless, Mediaite did share a quote from Cramer, who did not completely say inflation had peaked. Instead, he called it “not sustainable.”
Eduardo Razo is the Assistant Content Editor for BNM, which includes writing daily news stories on the news media industry. He can be found on Twitter @eddierazo_ or you can reach him by email at eddie1991razo@gmail.com.
