The market's reaction could be an indication that investors can once again go back to focusing on companies and how they are doing, instead of worrying about the Fed fund futures or the S&P 500 Index futures, which have been key metrics for money managers for ages.
However, Cramer warned not to ignore the Fed. When it raised interest rates a year ago by a quarter of a percentage point, the market was clobbered. It was clear that neither the economy nor the stock market was ready for the rate hike. This was because economic growth was uncertain and the outlook was cloud at the time.
This time the market was ready.
"So what's the real takeaway here? I think it's pretty simple. We had a big bad event. Rates went up. But all the rate hike did was ratify what we already knew, which is that it was time to raise rates because the economy is better," Cramer said.
The real question in Cramer's mind right now is whether the Trump rally will continue or take a breather.
President-elect Donald Trump clearly thinks the economy is weaker than Fed chair Janet Yellen does, Cramer said. He still continues to talk about how slowly the economy is performing, and says businesses needs help —but not from the Fed, but from the White House.
"Needless to say, that is a very different attitude toward business than President Obama," Cramer said.
In the end, Wednesday was just another day in the office for the stock market. That is good news, considering it could have been a very tumultuous day. Cramer calls it getting back to normal, at least as normal as they can be.