CNBC host Jim Cramer derided President Donald Trump amid a new inflation report showing numbers that are “just bad” and “reverberations” from the Iran War.

While CNBC’s Rick Santelli was over the moon about jobless claims on Thursday morning, Cramer was less than enthused by the latest Personal Consumption Expenditures Price Index (PCE) report from the Bureau of Economic Analysis (BEA) — a key measure of inflation.

On Tuesday morning’s edition of CNBC’s Squawk on the Street, Cramer said the report illustrates the knock-on effects of Trump’s war and mocked him for remarks he made at a photo op with the Artemis II crew:

CNBC ANCHOR CARL QUINTANILLA: All right. Meantime, there is some macro. The street’s digesting a lot of data this morning. We got claims, the Fed’s preferred inflation gauge of a PCE, Jim, headline March PCE 3.5 and core 3.2. For a higher number. You got to go back to 23 on that.

CNBC HOST JIM CRAMER: Yeah, these numbers are just bad! And somehow we think that bonds and rates are going up. They’re barely going up because people still believe that all this has to come down.

CNBC ANCHOR CARL QUINTANILLA: You saw the 30-year get to five last night.

CNBC HOST JIM CRAMER: Yeah, look, I think it should be! We’re– We have a–, this war is now, it’s reverberating through everything.

I mean, you know, GE Healthcare talked about it. GE Healthcare, that’s like an MRI, MRI! I mean you know talk about impact! Like, you ever use an MRI? Do you ever imagine that that’s going to be the Gulf, you know? The Strait of Hormuz, if you know what I mean? That’s where their numbers, one of the reasons, one of the myriad reasons why their numbers were so horrible.

CNBC ANCHOR DAVID FABER: You’re saying, why would that have an impact on MRI use?

CNBC HOST JIM CRAMER: I use and I’m said well on the actual MRI. I’m just saying that it’s the reverberation whether it be plastic–.

Look All right, I don’t know Wing Stop didn’t do the number. We have chicken which is feed of it

CNBC ANCHOR DAVID FABER: Have we really seen any reverberations in our equity markets from what’s going on in the Strait of Hormuz?

CNBC HOST JIM CRAMER: Well, what does this have to do with the price of Amazon?

CNBC ANCHOR DAVID FABER: Very little, although—.

CNBC ANCHOR CARL QUINTANILLA: Well, I mean, Amazon pays to move things around.

CNBC ANCHOR DAVID FABER: We didn’t even get to their retail business.

CNBC HOST JIM CRAMER: Oh my god, retail business is so, do you know that there was a line, there was a line–. (CROSSTALK) Well, you know why? Because there was a line in the piece, if like the president could like stop focusing on the guy’s ears, you know, from the ship for–.

What you would have. David, did you see the line which says that everything costs less? Everything costs less. Did you read that?

CNBC ANCHOR DAVID FABER: No.

CNBC HOST JIM CRAMER: He actually said it! He said everything costs less.

Watch above via CNBC’s Squawk on the Street.

New: The Mediaite One-Sheet "Newsletter of Newsletters"
Your daily summary and analysis of what the many, many media newsletters are saying and reporting. Subscribe now!