CNBC personality Jim Cramer engaged in a bizarre row in the Financial Times on Wednesday over the latest US July inflation figures.
The feud came shortly after the Labor Department revealed that consumer prices rose8.5% last month, down slightly from June.
The FT's "Alphaville" blog had previously ridiculed Cramer for suggesting that the United States had reached a peak in inflation,in a post of July 13 that his prediction wrote, "I'm afraid that's not the case." ''
When the latest numbers crossed, Cramer immediately demanded his FT apologize for his past ridicule.
"Waiting for the Financial Times to apologize for blaming me when I said inflation was at its peak," Cramer tweeted. "I don't think their insulting language is actually funny." I'm waiting for you to apologize for screwing me up when I don't think their insulting language is actually funny
— Jim Cramer (@jimcramer) Aug 10, 2022Within hours of Cramer's tweet, the "Alphaville" blog responded with a post titled "Jim Cramer: An Apology", which was probably what the CNBC anchor thought It was something completely different.
" In my earlier Alphaville post , I may have implied that Jim Cramer's Peak Inflation Call was the opposite indicator for readers. It was never our intention to lend credence," the outlet quipped.
"Today we learned that US consumer prices were up 8.5% in July from last year. This is clearly below June's 9.1%." added the post.
"Based on this single data point , acknowledging that the central measure of CPI now will likely prove to be more temporary than CNBC's presenter's anger, never again tries to predict a 'Jim Cramer peak' I swear.
He reached out to CNBC for comment on the situation, The Washington Post said. Cramer has not yet responded to the latest bargain.
Consumer prices change m/m as lower gasoline prices offset No higher food and housing costs. But his 12-month headline fall in the consumer price index eased pressure on the Federal Reserve and encouraged investors wary of lingering inflation.
Cramer's earlier views on inflation drew the ire of HBO's John Oliver. From, within a few months, I became a full-fledged 'inflationist,'" Oliver said after airing a clip of Kramer's shifting perspective on the situation. 69}
