Cramer Cites Economic Concerns as Major Banks Report Quarterly Results

Jim Cramer said persistent inflation, higher interest rates and unsettled capital markets were weighing on investors’ outlook for major U.S. banks as the companies reported quarterly results. “Frankly, it’s strange to see such universally negative reactions to a set of quarters that contained plenty of positives,” Cramer said on “Mad Money” on Oct. 14. He also pointed to persistent inflation, higher rates and unsettled capital markets as reasons investors were focused on the outlook. Goldman Sachs posted third-quarter revenue of $18.68 billion and net earnings of $5.29 billion.

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