In his latest column on Real Money, Jim Cramer noted that this market is playing two of its favorite parlor games: predicting the Fed and overacting to trade headlines.

And by "favorite," he means the games that will cost you money.

"Unlike football or baseball, you actually may make an investment decision off this nonsense. You literally have to tune it out so as not to be confused by the meanderings," Cramer wrote.

During TheStreet's daily live show, Cramer said that rather than focusing on what the Fed could do next or worrying about the latest negative trade deadline, watch the economy in general.

Cramer stressed to focus on the fact that the Fed had to cut rates now, not what is coming three months down the line.

 See what Cramer is watching in the economy in the video above.

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