According to Cramer, shares are "strongly overesold"

Today, Jim Cramer, CNBC, said shares are currently being sold at a huge discount. His speech followed the moment the markets reached a new low for 2018.

"Just do not put me in a FED box," Cramer said in CNBC's Squawk on the Street, in a statement on markets that they will probably continue to fall cheaper if the FED raises interest rates on Wednesday.

Today, indices posted a rise at the start of the US session, having been pushed back from the bottom of Monday after falling about 2 percent. DOW and S & P recorded the worst December performance since 1980, finishing at slightly higher levels than what might have been the worst December of the Great Depression.

Today's declines brought the S & P500 and Nasdaq back into the correction zone. Mad Money's chairman said on Monday that the ongoing sell-off of the markets was "gone beyond normal" and beyond concerns about the slowdown in the world economy and the current policy of the Fed. Cramer and market participants expect the FED to raise interest rates for the fourth time this year on Wednesday.

Since Powell said the politics were "far from" neutral in October, Cramer puts the FED chairman on a strong criticism. US President Donald Trump also does not stay behind Cramer. According to the presenter, the President is in full power to criticize Powell, but he also pointed out that Trump had crossed the border, and his criticism had become a jerk. Let's recall that it was Trump who nominated Powell in November 2017 as President of the Federal Reserve.

Source: CNBC

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