After the Federal Reserve raised interest rates a quarter point on Wednesday, Jim Cramer had to applaud it and its chief, Janet Yellen, for keeping an even keel in an increasingly partisan and politicized environment.
"Into that dark void comes the Fed, which I think has become a paragon of predictability and legitimacy," the "Mad Money" host said. "There was a time when even the whisper of a rate hike would destroy the stock market. But the Fed has prepped us in so many ways for its actions that they truly amount to non-events, non-news events, and that's precisely what's needed to keep the stock market orderly."
Cramer recalled the barrage of media backlash when the Fed announced its forecast at the start of 2017.
Yellen made a point of not factoring in President Donald Trump's pro-growth agenda, causing the press to criticize her for ignoring the inevitable economic boom that his policies would spur.
"I didn't hear a soul come out today and mention how right Yellen's been and how wrong everyone else has been about factoring [in] the Trump effect," Cramer said. "She's been right as rain about what was going to happen and she gets zero credit whatsoever for engineering this soft path out of the economic emergency room."