GO
Loading...

Cramer: Too Many Federal Reserve 'Parlor Games'

Stop trying to pick who Ben Bernanke's successor will be and start picking stocks, CNBC's Jim Cramer said Wednesday.

"There are too many parlor games," Cramer said of speculation about the next Fed chairman. Instead, Cramer wants to see the market more concerned with individual stocks, adding that a tapering announcement by the Federal Reserve will be a "hiccup" for some key sectors, like financials.

Responding to comments from former Fed Governor Laurence Meyer and others that President Barack Obama "essentially fired" Bernanke in televised remarks this week, Cramer said that this analysis was "harsh" and disagreed with the idea.

(Read More: Obama 'Essentially Fired' Bernanke: Meyer)

Cramer said on "Squawk on the Street" that Obama's remarks amounted a presidential tweet about removing the Fed chairman, something that was done with little thought about the impact this comment would have on the markets.

"There was no need to do what he did," Cramer said. "We're always uncomfortable when the president talks about the Federal Reserve."

With impending news from Wednesday afternoon's Fed announcement, Cramer said that technology and bank stocks would most like to see Bernanke give signals of a strengthening economy and eventually a taper of the central bank's bond buying. "It's not like everything goes bad."

"There could be relief, even if he says the wrong thing," he said. "The market is not the market. It's the real estate investment trusts, the bond market equivalents. These are the people [Bernanke] is waking up."

(Related: Fed Chief Bernanke Is 'the Ultimate Lame Duck': Langone)

"What's happened is that these mortgage real estate investment trusts and guys trading this curve, they turned out to be a little less ready. I think that what happened here is that Bernanke said to all these guys, 'Hey look, I just gave you a fire drill, will you please position yourself? Get a little more used to the idea that this is not going to last forever.'"

"I think it's really important that people recognize that it doesn't matter whether it's today, but it's when," Cramer said.

"I do believe that when this [Fed meeting] is over, we'll come back and actually discuss—I'm not kidding—stocks," he said.

— By CNBC's Paul Toscano. Follow him on Twitter and get the latest stories from "Squawk on the Street" @ToscanoPaul

Disclaimer