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Jim Cramer: Today's One-Two Punch to the Kodiak

Jim Cramer

Which is better for the market, a thaw with China or data that shows the economy is slowing to the point that the Fed needs to be more prudent and less dogmatic with its rate hike philosophy? First, as you know, I have been saying bad news is good news now, bad news being any sign that the eight rate hikes the Fed has put through may be slowing down the economy enough that it doesn't need to panic and overshoot whatever targets are now being embraced. At 10 o'clock we got a truly critical precursor to economic growth that verifies everything I have been hearing from the myriad companies I talk to.