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Stock impact report

Cramer's memo to the Fed: Consider the jobs being wiped out by technology before hiking rates [CNBC]

Comcast Corporation - Class A (CMCSA) 
Last comcast corporation - class a earnings: 4/30 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: cmcsa.com/investors
Company Research Source: CNBC
The Federal Reserve isn't paying enough attention to the jobs being wiped out by technological innovation, CNBC's Jim Cramer said Friday. Right at the moment when Silicon Valley is laying waste to white-collar jobs and many factory positions — that's why companies love the cloud, it lets them fire people — the Fed is obsessed with the disaster that is full employment, the Mad Money host said. Never mind that we're not at full employment, he added. The labor force participation rate is below 63 percent; it was above 66 percent before the financial crisis. Reflecting on his recent trip to San Francisco , Cramer once again lamented that the Fed was so eager to raise interest rates , which it does in an effort to combat inflation, without considering the less obvious forces slowly transforming the U.S. employment landscape. The cloud isn't shutting down factories. It's not driving companies out of business like we're seeing with Sears , he said. It's Show less Read more
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