Plain and simple, Cramer is not happy with the Fed. It was clear to Cramer that the Fed has not listened to anything corporate CEOs and companies have said when it foolishly refused to take a March rate hike off the table on Wednesday.
“All the Fed has done is sacrifice American jobs; they don’t know it, yet, because after yesterday’s announcement it is clear they haven’t been listening to many corporate conference calls,” the “Mad Money” host said.
When the Fed raised rates, it caused a spike in the dollar around the globe. That put U.S. international companies at a shocking disadvantage versus where they were before the rate hike.
When Cramer did his homework, he realized that the world is in crisis right now. The only country that can do something about it is the United States, and instead it has decided to crush its international companies and deliberately slow the economy’s growth.
“One question for the Federal Reserve, you’re doing this in the name of what exactly? Let me know if you can even articulate a reason. I know I sure can’t find any,” Cramer said.
Read MoreCramer’s memo to the Fed: You’re killing us!
For those investors that are worried about an economic slowdown in the U.S., Cramer suggested to take a look at utility stocks. This group is completely domestic and has very little economic sensitivity.
American Electric Power (AEP) owns the largest power transmission network in the U.S. and has a large power generation portfolio, serving some 5 million customers in 11 states.
With so many stocks down in 2016, Cramer noted that AEP has rallied 1.6 percent during the new year and has a juicy yield. However, when it reported on Thursday, both sales and earnings came in lighter than expected.
To take a closer look, Cramer spoke with AEP Chairman and CEO Nick Akins.
“All in all, we raised guidance twice during 2015 and rounded up the year firmly within that guidance range even with the 11-cent bogey that we had relative together,” Akins said.
In the Lightning Round, Cramer gave his take on a few caller favorite stocks:
T-Mobile: “I’m a buyer of T-Mobile. Why? Because I think John Legere [CEO] is super.”
Becton Dickinson & Co: “I have always liked Becton Dickinson, but I am going to see you Becton Dickinson and raise you with Baxter.”