Cramer: Yellen Fed a ‘cacophony of voices’

Cramer: Yellen's Fed vs. Bernanke's

There is one key difference between Janet Yellen's Federal Reserve and Ben Bernanke's, CNBC's Jim Cramer said Thursday.

"I think [with] the Bernanke Fed we would have known for a long time what's going to happen and we wouldn't have this uncertainty," Cramer said on "Squawk on the Street." "The Yellen Fed is really just a … cacophony of voices and maybe they reach a conclusion."

The central bank is to announce its decision at 2 p.m. EDT on whether it will raise interest rates for the first time since June 2006.

Rising interest rates: What you need to know

A CNBC survey found that 49 percent of Wall Street believes the Fed will hike, with 43 percent saying the central banks will hold.

"When you see that kind of split, you know that some big bets are going to turn out to be not so hot," Cramer said.

U.S. equities were relatively flat in early trading Thursday.