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NEW YORK (TheStreet) -- Over the long run, everyone benefits from a stronger economy, Jim Cramer told his "Mad Money" TV show viewers in a special, on location episode of his "Invest in America" series, this time from the Starbucks (SBUX - Get Report) annual meeting in Seattle.
Cramer said that yes, some investors told on today's news that the Federal Reserve may, sometime next year, begin raising interest rate. For these investors, higher rates equals sell no matter what.
But despite being jarring for the markets in the short term, Cramer explained that over the long term, a stronger economy equals more sales and more sales translates into more profits and bigger returns for investors. "Everyone benefits from more hiring," he continued.
Cramer told investors that they shouldn't want the status quo, a rally propped up by low rates -- they should welcome an improving economy. Higher interest rates are just a cost of doing business, after all.
That's why Cramer said he'd use today's selloff, and any that follows, to pick among the rubble for beaten-down banks and other companies that will thrive as the U.S. economy finally recovers.
Executive Decision: Howard Schultz
For his first "Executive Decision" segment, Cramer sat down with Howard Schultz, chairman, president and CEO of Starbucks, for an update on the company and its prospects.
Schultz commented on today's announcement of a partnership with Oprah Winfrey that will include Oprah-branded chai in time for Mother's Day. He said Oprah will be a big driver for Teavana and Starbucks.
Schultz also commented on his company's growth in China, noting that in the long term China will become Starbucks' second-largest market with 4,000 to 5,000 locations. In the short term, however, Starbucks is focused on home and will be accelerating growth in the U.S.