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Fed Can't See That Growth Is the Solution

By Jim Cramer

 About this article:
 The Fed tries to fix what it can't fix, and it doesn't try to fix what it can. That's the only way to describe the market's reaction to the bad consumer price index this morning. The market's reading -- CORRECTLY -- that a high CPI will make the Fed more vigilant, even though it is oil and its tentacles, including higher food costs because of the ethanol obsession, that's causing the problem. The market recognizes that the Fed likes tilting at energy windmills with slow rate cuts rather than dealing with the growth side of the equation that would get us out of this interminable crisis. The Fed also refuses to recognize that growth is always the antidote to so many problems. Of course, the Fed is obsessed with inflation when deflation is the worry. The reverence that seems to be devoted to these distinctly non-rigorous characters...

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