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Cramer on the Fed raising rates: Expect a strong signal for a hike in December

Cramer on chances of a rate hike

Ahead of the Federal Reserve policy meeting on Wednesday, CNBC's Jim Cramer said he believes the Fed will signal it plans to raise interest rates at its next meeting in December.

"I expect a very strong statement that says, 'Listen, guys, this is what we're gonna do ... we did it last year at this time. We're gonna do it again,'" Cramer said on "Squawk on the Street.

He added, "We've got to raise rates by December, unless there is some calamity."

Cramer said, "[The Fed] can do it. If they really want to, they can do it."

The Fed will release its latest policy decision at 2 p.m. ET, with Fed Chair Janet Yellen briefing the media a half hour later. Market consensus is for the Fed to keep short-term rates steady and not lift until December.