It's Fed day. 

The Federal Reserve will be releasing its interest rate decision at 2 p.m. ET Wednesday.

And then the Federal Reserve chairman Jerome Powell will take the podium for a press conference. 

"These days are far different, as economic conditions are dire, and this Fed has gone out a long way into the waters of less than traditional policy in an effort to maintain lines of credit and liquidity until the overall picture of solvency on the broadest of levels might start to improve. Today, Jerome Powell will likely have to clarify an awful lot... and show a lot of patience. Oh, I would love to have a conversation with that former manager in this environment. No doubt," Real Money contributor Stephen Guilfoyle noted in his morning column. 

So, what will Jim Cramer be listening to when Powell takes the podium?

Watch the full video above for Cramer's full take.

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