Cramer: Now’s your chance to raise, Fed!

Cramer: Banks are going to soar here

CNBC's Jim Cramer had a message for the Federal Reserve on Friday following the October jobs report: The window for a rate hike is open.

"We got a bull market in China, Europe's coming back, employment here [is strong]," Cramer said on "Squawk on the Street." "If they don't do it [in December], I don't know when they're going to do it."

BOOM! Nonfarm payrolls up 271,000; jobs rate at 5%

The Bureau of Labor Statistics reported Friday the U.S. economy added 271,000 jobs, handily beating the expected 180,000 mark. The number sent the chances of a Fed rate hike from 58 percent to about 70 percent.

Cramer said investors can expect bank stocks to start rising on this number. "The bank stocks … could carry the whole thing," he said.

Shares of Goldman Sachs and JPMorgan Chase were up 2.5 percent Friday morning. Wells Fargo was up 1.5 percent.

The jobs report came after Fed Chair Janet Yellen said December was a "live possibility" for a rate hike provided the data was supportive.

DISCLOSURE: Cramer's trust owned Wells Fargo's stock when this article was published.