Jim Cramer was confident in financial stocks' ability to recover from hits in the market, just like oil prices tend to come up after hitting session lows.
"Here's what I have to tell you about banks. Initially they go down because people are looking for three rate hikes, and then they go back up. So just like I told you to buy the oils when they hit the $47 downside target, in a couple days we'll buy the banks. They'll be right again," Cramer said.
The "Mad Money" host spoke after the Federal Reserve announced its first rate hike of 2017.
Cramer said the move was a gift to the markets, which the Fed could have held hostage if it wanted to make a statement about President Donald Trump's pro-growth policies being too inflationary.
"Today, the Fed set us free to invest in reality and banished the perception that it wants to derail stocks, bonds, and the economy itself. That's good news," Cramer said.
Looking back at countless talks with CEOs both on and off the show, Cramer painted a picture of a strengthening economy in which construction is booming, manufacturing orders are up, and corporations are hiring.
One such CEO was Phillip Green, the chief executive and chairman of Texas-based bank Cullen/Frost.
Cullen/Frost's stock has been on the up-and-up since 2016, and business is still growing thanks to improved sentiment around markets and the overall economy, Green told Cramer.
"The attitude is markedly better," Green said. "We saw really good loan growth in the fourth quarter, we saw a real turnaround, and then in the period of time since the end of the year we've continued to see strong loan growth."
In light of Tesla CEO Elon Musk's announcement that he would buy $25 million of Tesla's common stock in an effort to raise capital for the tech giant, Cramer decided to cross-reference that, along with Twitter CEO Jack Dorsey's similar move in February, with some past buybacks.
Where the CEOs of Allergan, JPMorgan, Restoration Hardware, and Wynn Resorts succeeded in similar initiatives, Tesla and Twitter could be different, the "Mad Money" host said.
"Let's put it this way: neither man needed to buy," Cramer said. "But with both, I want to wait and see because neither company's making money and there's a lot more that could go wrong with these two companies than the others we have gone over."
As policymakers in Washington continue to debate the future of health care, Cramer looked into health-care stocks that could make good long-term plays if repealing and replacing Obamacare fails.
The "Mad Money" host pointed to diabetes as one of the biggest risks in an increasingly stay-at-home economy and picked Dexcom, Insulet, and Eli Lilly as his favorite diabetes-battling stocks. Dexcom and Insulet both make devices to help diabetes patients, and pharmaceutical giant Eli Lilly has a well-developed diabetes franchise with more treatments in the pipeline.
"Treating diabetes is going to be a huge story for many years to come, which is why I want to give you multiple ways to play it," Cramer said. "DexCom and Insulet both have exciting technology, although I prefer DexCom here, and Eli Lilly has the best diabetes franchise of all the big pharma names and is certainly the most stable way to invest in this terrible but long-lasting trend."
Finally, Cramer said that FANG stocks are even stronger than when he first came up with the acronym, which is surprising considering how hard it often is for tech stocks to consistently top the charts.
That may be because Facebook, Amazon, Netflix and Google parent Alphabet are all expanding and innovating beyond their original business models.
Facebook and Alphabet's Google are dominating advertising, and Alphabet is leading in the self-driving car space. Alphabet's power in the areas of data hosting and online video is only growing. Meanwhile, Amazon's delivery business is a force to be reckoned with, and Netflix's international growth potential is more promising than some expected.
In Cramer's Lightning Round, two software stocks worried the "Mad Money" host:
Criteo: "I think the stock's had an amazing run, but you know what that says to me? Don't buy. As a matter of fact, I would ka-ching, ka-ching, given the fact that … you don't want to be against Google and Facebook. Actually, more Google. They do good search management, I do like the company, but the stock's moved too much. Let's leave it that way."
Tableau Software: "No, no, no, no, no, no, no. It's a faux cloud company, frankly. I'm not there for that one."