Jim Cramer says there’s enough pain in the market for the Fed to slow rate hikes

CNBC's Jim Cramer connected Monday said that there's capable symptom successful the marketplace for the Federal Reserve to see easing its gait of involvement complaint hikes.

"There's capable turmoil that the Fed needs to dilatory down its complaint hikes, if lone to forestall the headwinds from turning into immoderate benignant of weird [Category] 5 hurricane," helium said.

Stocks fell connected Monday, snapping past week's streak of gains, arsenic investors mulled implicit firm and economical quality that sent mixed signals astir the authorities of the economy.

Amazon reportedly plans to laic off astir 10,000 workers starting this week, which would beryllium its largest headcount chopped successful history. The cuts would marque the e-commerce elephantine the latest tech firm to curtail its workforce this twelvemonth to slash costs successful a worsening economical environment.

A agleam spot during the trading league was Federal Reserve Vice Chair Lael Brainard's denotation that the cardinal slope could soon trim its gait of raising involvement rates.

Cramer pointed to the reported layoffs astatine Amazon and turmoil successful different sectors similar crypto and software stocks arsenic examples of the Fed's damage. "The Fed's already done a large woody of harm to the economy, it's conscionable that it's each packed into the astir bloated sectors," helium said.

He added that consumers are besides starting to consciousness the value of the Fed's involvement complaint hikes, particularly arsenic the fig of companies laying disconnected their workers increases.

"Other than travel, radical aren't truly doing much. They're hunkered down now, trying to fig retired if they should spell backmost to enactment portion going to their tenth wedding since we came retired of pandemic mode," he said.