Cramer’s comments came while the stock market took a nose dive on Monday, raising fears of a possible recession. The Dow Jones Industrial Average tumbled 1,033.99 points, or 2.6%, while the Nasdaq Composite and S&P 500 fell 3.43% and 3%, respectively. The Dow and S&P 500 closed on their worst day since September 2022.
The CNBC host also offered praise to Vice President Kamala Harris, applauding her for bringing in her brother-in-law, Tony West, as a close adviser. West is an attorney and served as the associate attorney general in the Obama administration. Cramer said West is a “business person” and contrasted that with the few business people surrounding President Biden.
“There was no business person really that close to Biden, except for Gina Raimondo, so this is a nice change of pace, a lot of business people surrounding Harris,” he said.
THE JULY JOBS REPORT JUST TRIGGERED A RELIABLE RECESSION INDICATOR
O’Leary Ventures chairman Kevin O’Leary joins ‘The Evening Edit’ to discuss how President Biden and Vice President Kamala Harris could handle a recession.
Last week, President Biden claimed to have “cured the economy” when asked about what his legacy would be.
“Mr. President, What do you want your legacy for Gen Z to be?” a reporter asked.
“That I cured the economy. And the environment. And a few other small things,” Biden responded.
Fox News’ Anders Hagstrom and Matthew Kazin contributed to this report.
