While economic conditions in the U.S. have improved since the Federal Reserve's policymaking committee last met, the central bank shouldn't be too quick to raise rates, CNBC's Jim Cramer said Wednesday.
"Wages are still doing nothing. If you're watching the tenor of the election, you know that people feel like jobs just go away every single day. At a certain point, the Fed cannot be as neutral as they'd like to be," Cramer said on "Squawk on the Street."
Investors around the globe have their eyes set on the U.S. central bank, which is expected to keep interest rates at current levels following its two-day meeting Wednesday afternoon. The chances of a rate increase were zero, according to the CME Group's FedWatch tool.