Jim Cramer says the Fed needs to slow down before making a rash decision

CNBC’s Jim Cramer told investors on Wednesday that the Federal Reserve needs to calm down before it makes a rash decision about rate hikes that could make the market even worse.

With two weeks to go before its next meeting, Cramer stressed the need for prudence, not recklessness, in times of market confusion.

“There are plenty of Fed heads who believe they need to keep raising interest rates, rather than take their time to assess the situation,” Cramer said. “They don’t want to wait, they simply want to tip us into a definitive recession. I think their view is reckless simply because we’re in an incredibly strange situation and we don’t have all the facts. Maybe the Fed needs to tighten more, but would it kill them to wait another month or two?”