The Federal Reserve was widely expected to leave interest rates unchanged on Wednesday, at the conclusion of its March meeting.

The Federal Reserve on Wednesday kept interest rates unchanged as central bank officials weigh the impact of President Donald Trump’s aggressive economic agenda.

Lower rates can stimulate the economy, and Cramer said the data in the CPI report gives the Fed room to cut, which would benefit the market as a whole. The central bank may actually have to cut, he continued, because tariff increases could lead consumers to spend less, which in turn means many retailers will miss their estimates.