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The default read on a Federal Reserve rate-hiking cycle is that equities suffer, full stop.
CNBC's Jim Cramer pushed back on that framing this week, arguing that history gives investors a workable playbook and that writing off stocks for the full duration of a hiking period is a misreading of the record.
The tension in that view is genuine: precedent and prescription are not the same thing. The case for Cramer's position rests on the historical record itself.
His premise is that rate-hiking cycles have included periods of equity strength and that treating the full duration as uniformly bearish misreads what that record actually shows.
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