In this article, we will look at everything Jim Cramer said about the market amid rising inflation and a recalcitrant Federal Reserve. On Wednesday, the host of Mad Money discussed how a sudden geopolitical shock, paired with discouraging inflation data, rattled the market.

Oil had been stable for a few days. Things looked good for the market. But today, a huge natural gas field in Iran was bombed. Iran immediately retaliated with a missile attack on one of the world’s largest liquefied natural gas complexes, and this was in Qatar. It caused extensive damage. The price of natural gas worldwide could spike because of that, except for the U.S., because we have so much of the stuff. That, more than anything else, sent the market dramatically lower. We didn’t get any help from the U.S. economy’s numbers. This morning, we got a PPI number that showed a big uptick in inflation. It seemed to be a wake-up call that even when Kevin Warsh replaces Jay Powell as Fed chief, if he does, it’d be very difficult for him to cut rates.

READ ALSO Jim Cramer’s Latest 6 Stock Calls As Oil Drops and the U.S. Market Rises and Jim Cramer’s Bullish AI Investment Thesis Amid Iran Conflict: 6 Stocks in Focus

Cramer noted that the housing sector would benefit from lower rates, but said that consumers could face pressure if inflation continues to climb. He mentioned that he would not term the current situation “stagflation”, as he said that the term is used too loosely whenever economic growth slows while prices rise. He said he has lived through multiple periods of stagflation and does not believe the present conditions qualify, even if there are elements reminiscent of a 1970s-style oil shock.

Now Fed Chief Powell said the same thing in today’s presser, and I gotta tell you, I felt, I did feel somewhat comforted. I didn’t feel alone. Now, I still say this is a temporary and artificial increase. It’s because… look, it’s the cost of doing business under this president, whether because of tariffs or because of this war. If this conflict drags on and we can’t reopen the Strait of Hormuz for months and months and months, then eventually, you’re going to have to worry about it, but we’re not there yet.

Our Methodology

For this article, we compiled a list of 13 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on March 18. We listed the stocks in the order that Cramer mentioned them.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).

Jim Cramer Broke Down 13 Stocks Amid Rising Inflation and a Recalcitrant Federal Reserve

13. NVIDIA Corporation (NASDAQ:NVDA)

NVIDIA Corporation (NASDAQ:NVDA) is one of the stocks mentioned during the show, as we cover everything Jim Cramer said about the market. Cramer explained why the stock is not moving, as he stated:

Now, there was a lot of news about NVIDIA at the GTC festival, but none of it managed to move the stock. One reason was confusion. Jensen talked about how he has $1 trillion worth of business for his highest-end chips, up from $500 billion just a few short months ago. The numbers included 2025 figures, though, and the new figure is through 2027, while the previous target was only for 2025 to 2026. So candidly, it did sound bigger than it was, even though it was gigantic. The stock blew up a quick five points during the speech as retail investors used market orders, spiking the share price and then getting clobbered all the way down when people realized the $1 trillion number was less significant than they thought, even though it was significant. Second reason NVIDIA can’t seem to catch a break… Unlike a few years ago, institutional money managers own the stock in gigantic amounts. There’s not a lot of accounts that don’t own it already.

That means only new money coming into the S&P 500 can really move the stock higher, at least for now. Third reason: option activity. Home gamers remember the NVIDIA of old with its wild moves and the great swings higher. They buy calls every day in record numbers because they think they can capture the next move. They’re too eager. They overpay. Professionals see this, so they sell the call options, they short to them, putting selling pressure on the common stock, as the call selling always transfers into common stock selling. This happens so often that it puts a lid on the common stock. That’s what occurred today… What could move up NVIDIA again? Numbers? They didn’t move it last quarter. How about new customers? They get new customers all the time, hasn’t made any difference.

Everyone’s afraid that the hyperscalers will somehow decide, you know what, we have enough, or we’ll design our own chips. No. What’s going to get NVIDIA moving again is NemoClaw and the endless proliferation of agents through Anthropic and OpenAI, which will cause a wave of traffic again for the hyperscalers, for the cloud business, which in turn will need more NVIDIA hardware to keep all this stuff running. I know it sounds complicated, even fanciful, but so did ChatGPT when I first heard about it. Call it the hidden reason to buy NVIDIA stock here and possibly the best reason other than a gigantic move in the stock market itself, which will pull NVIDIA stock up. But that’s not the way we want it to go higher, is it?

NVIDIA Corporation (NASDAQ:NVDA) develops accelerated computing and AI platforms, GPUs for gaming and professional use, cloud services, robotics and embedded systems, and automotive technologies.

12. BigBear.ai Holdings, Inc. (NYSE:BBAI)

BigBear.ai Holdings, Inc. (NYSE:BBAI) is one of the stocks mentioned during the show, as we cover everything Jim Cramer said about the market. Responding to a caller’s query regarding the stock, Cramer commented:

No, I’m familiar, but I have to tell you, it’s losing a lot of money, and we are out of the year of magical investing. We don’t have it anymore. This is a tougher tape. We do not want to go there.

BigBear.ai Holdings, Inc. (NYSE:BBAI) provides AI-powered decision intelligence and cybersecurity solutions for national security, supply chain, and digital identity markets. A caller mentioned that they started a position in the stock and inquired about it during the July 1, 2025, episode. The Mad Money host replied:

Wow, you went right for the speculative. Okay, that’s good. That’s, but that’s only going to be your one speculation. We are not going to do other speculations because that will have to be, we gotta fill it out with some very good growth companies. But that one’s, you know, losing a… bit of money. By the way, Palantir would’ve been a better one to buy there because Palantir’s coming in. But let’s limit our speculation to one stock…

It is worth noting that since the above comment was aired, the company’s stock has declined by nearly 43%.