Jim Cramer had a loud and clear message for the Federal Reserve on Friday: Bring on the rate hike!

With the U.S. economy humming along, it no longer needs the help of the Fed. And right now there are many companies that need higher rates to make more money, and not many that will get hurt by it. In particular, the financials need higher rates.

"When you have the banks as leaders you can have a real rally, the kind that can take us much further than people believe," the "Mad Money" host said.

Watch the full segment here:

The key is to listen for the words used by the Fed in its commentary next Wednesday. If it drops the notion of "gradual" when it comes to rate hikes and substitutes it for the word "orderly", Cramer will presume that it means there will be three rate hikes this year.

Three rate hikes would mean that Bank of America and JPMorgan could see as much as $3 billion in additional earnings.

While there are many investors that agree with Cramer that a rate hike is needed, he warned to be ready for a sell-off. Some investors may think that a quarter point increase will slow the economy.

"You need to be ready for it if we sell off, because this narrative could create some terrific buying opportunities," Cramer said.

Yes, a quarter point rate hike could bring up the average mortgage by $40 a month, the dollar will strengthen and some international companies could cut their numbers. To Cramer, this is a small price to pay for the acknowledgement that the U.S. economy is back on track.

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