FDX - Jim Cramer Warns Houthi Assault In Red Sea Could Impede Fed's Fight Against Inflation Advises Investors To Be Cautious | Benzinga
In a recent episode of CNBC’s “Mad Money,” host Jim Cramer cautioned investors about the potential impact of the ongoing Red Sea crisis on the Federal Reserve’s fight against inflation.
What Happened: Cramer highlighted the escalating shipping costs due to the Red Sea crisis, which he believes could hinder the Fed’s ability to control inflation. The crisis, caused by recent attacks on ships traveling through the Red Sea, has led to significant disruptions in global shipping routes, reported CNBC.
These disruptions have forced major shipping companies to take longer and more expensive routes, leading to a surge in freight prices. Given the Red Sea’s proximity to the Middle East’s energy production, Cramer also warned that these issues could potentially drive up crude prices.
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"Right now, I don't think you should be chasing the shipping stocks—it's a bit late for that," Cramer said. "I'd rather own some other transports, again, ...