For all those people who are quick to criticize Federal Reserve chair Jay Powell for not moving fast enough, let’s not forget that we’re in unprecedented times, Jim Cramer told his Mad Money viewers Monday. Two years ago, no one knew how long Covid would last, or what lasting effects it would have on our economy, least of all today’s armchair critics.

Powell is doing what is necessary, Cramer insisted, and told the markets today that he’s willing to get more aggressive on interest rates if needed. But with everything Powell is facing, it’s not surprising he’s been cautious until now.

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