CNBC’s Jim Cramer tossed out some hyperbolic predictions on Wednesday after New York Democrats nominated far-left socialist Zohran Mamdani to represent the party in November’s mayoral elections.
On Tuesday, Mamdani, a 33-year-old Muslim born in Uganda, defeated four other challengers including the establishment candidate, former New York Gov. Andrew Cuomo.
Mamdani has promised residents of the Big Apple many socialist initiatives, such as freezing rent for all tenants in stabilized apartments for four years. Speaking with David Faber on “Squawk on the Street,” Cramer was given a prediction of what New Yorkers can expect with a Mamdani administration. “The new mayor, potentially, of New York is going to freeze the rents, and everybody eats for free,” Faber said. “So they don’t have to worry.”
Read more at Newsmax© 2025 Newsmax. All rights reserved.
