As Fed takes baby steps, Cramer's trick to profit

Investors who weren't sure how to position through year-end just received a message that couldn't be more clear. So says Jim Cramer, after sifting through both the Fed statement and resulting comments from Fed Chief Janet Yellen.

"As I listened, I heard a woman who was simply saying, look, the Great Recession is still with us psychologically. We aren't back to normal, because the downturn so scarred people that they aren't behaving as we would hope." Cramer said.

In turn, Cramer says making money in the market, involves looking at the environment through the lens of the Fed.

"The trick is to remember that they speak for the common person," Cramer said. "The Fed wants the common person to make money." With that backdrop always in mind, Cramer says it becomes easier to pick stocks.

Read MoreFed comments say to Cramer, buy Apple & more


Adam Jeffery | CNBC

Also, Cramer turned attention to biotech companies that should thrive, even if the globe slows. "Biotechs aren't cyclical," Cramer explained, meaning their fortunes are not tethered to economic prosperity in the same ways as industrial stocks. Instead, they're secular growers, Cramer said. And of all the companies in the space, Cramer said Isis Pharmaceuticals (ISIS) is among his favorites. Find out why.

Read MoreCramer: 'Compelling' stock for slowing economy

In addition, Cramer talked about a company that has landed in the crosshairs of activist investor Nelson Peltz. "As part of my research for my new book "Get Rich Carefully" I studied every big name activist to see if investors could make money piggy-backing their moves," Cramer explained. And typically the research found it didn't pay; although there were some gains, they weren't any better than the broad S&P 500. "However, there was one exception—activist investor Nelson Peltz."

Cramer: Billionaire investor about to unlock value

Also, Cramer said "If you want to take the temperature of consumer oriented technology, then it's always worth checking in with Cypress Semiconductor (CY)." Talking about the state of the recovery, Cypress CEO T.J. Rodgers said, "Things are getting better but they're getting better slowly.Then, looking at the stock opportunity, Cramer said, "I think people should get on board. I think this is an inflection point."

In the Lightning Round Cramer said that his favorite utilities were Dominon (D), American Electric Power (AEP), Consolidated Edison (ED), and Southern (SO), in that order.