Federal Reserve

Cramer’s new position on Fed rate hike: Go now

Cramer's new Fed position

CNBC's Jim Cramer has had a change of heart. (Tweet this)

Instead of wanting the Federal Reserve to hold off until later this year to hike interest rates, the "Mad Money" host said on Thursday that he welcomes a rate hike right now after a slew of positive data about the U.S. economy.

"If the Fed wants to move, it can move because this is the demographic shift we've been waiting for some time," he said on CNBC's "Squawk on the Street."

Consumer spending data that was released earlier on Thursday was at its highest in nearly six years. Cramer was also pleased with positive housing data and positive guidance from companies such as KB Home.

Read More Consumer spending rises most in nearly six years

"It's a spending shift; these people are spending more, they have it, they're feeling more confident, it's a better time," he added.

"If we have a return to where we were before, but we're doing it in a measured way, without a lot of bad loans and virtually no nonperformers, then I got to say, go ahead. After Greece is done, take them [interest rates] up," he said.

Cramer had said this month that he did not think the Federal Reserve should raise rates just yet since the global economy is still struggling.

Read MoreCramer: Wait till September for rate hike