Jim Cramer would rather presume the market's foolishness than rationality about the effects of a potential Federal Reserve rate hike.
"I, personally, don't think it is a good idea to raise rates into an economy that seems a heck of a lot more tapped out than it was just a few months ago," the "Mad Money" host said.
Though Cramer does not want a rate hike, the market may still get one. While some Fed officials agree with Cramer, he fears that others may lean toward a hike because the U.S. is at "emergency low rates without an emergency."
Cramer drilled down his Fed worries to two issues: whether the Fed tightening matters at all to the economy and whether a quarter point rate hike is already baked into the market.