Jim Cramer says the 'bulls got what they needed': find out more

Mad Money host Jim Cramer now expects the U.S. Federal Reserve to lift rates by 25 basis points tops in its meeting next week.

That paints a rather rosy picture for the S&P 500 which added another 2.0% on Thursday.
Remember that the Fed Chair Jerome Powell had spurred fears of a 50-bps hike as he testified on Capitol Hill last week. But now that the Silicon Valley Bank has failed, Cramer noted, a bigger increase in interest rates is out of question.

We thought Powell was going to hit us with a 50 basis points hike because inflation refused to be beaten. Now we know he doesn’t need to do anything to beat inflation – those bank runs will do it for him.
The benchmark index is still down about 5.0% versus its year-to-date high.