Federal Reserve makes an unprecedented move, stocks rally — Jim Cramer and others weigh in (via TradingNation)
"The Fed is not going to be the reason why we go into a depression. They want to stop that; they want to make it a recession. Sometimes, look, I was critical — just a couple years ago when Powell was talking about tightening, when the economy was actually getting weaker. [Now] he's so far ahead of the curve that it will be studied, we will be studying this period.
"We came in this morning, we had about a 50% retracement. Historically that's what traders expect to see. Now they thought they would see the market, become a bit more challenged, that's where it was going. Instead we got the surprise from the Fed, and with the Fed ready to be all in that got them a little bit excited, and that's why we're having this rally. Secondarily, you're getting a minor boost from a supposed agreement on cutting back oil production.
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