Phew! Jim Cramer breathed a sigh of relief when he saw that the Fed actually gets it. The Federal Reserve made it clear that it recognized that if there is no inflation, a world of uncertainty and no real risk in keeping rates low—then rates should stay low.
That was exactly why markets initially greeted the decision with a rally and applause before the averages pulled back later in the day when investors rang the register. Cramer expected to see a selloff regardless of what the decision was, partially because the market had run up so much in anticipation of the event.
If the Fed had decided to raise rates, Cramer wouldn't have been surprised if the Dow took a nosedive down 500 points in a heartbeat. The dollar would have soared, emerging markets would have plunged and China would have cratered all because it was "time" for a rate hike.
"I say let's get on with it and find companies we like with share prices that have been kept down by all of this negative chatter," Cramer said.(Tweet This)
Ultimately, Cramer thinks that the U.S. is better off that the Fed stood pat on Thursday. Thus, the wise actions of the Fed will now allow for the higher prices that Cramer expects to occur in reaction.