Jim Cramer: The Fed Still Wants Things to Be Strong

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The Federal Reserve meets this week.

The economic calendar Monday is bare but this week a highlight will be the Federal Open Market Committee's meeting on Tuesday and Wednesday.

The Federal Reserve is expected to keep rates near zero and no major policy decisions are expected from the U.S. central bank. However, Fed-watchers will be curious to see whether May's employment data has changed the body's economic projections.

The calendar this week also includes data on consumer prices, producer prices, jobless claims and consumer sentiment.

And the market has been rallying for the past couple of days, with the indices in the green in intraday trading on Monday and on Friday, U.S. stocks closed sharply higher after the U.S. added 2.5 million jobs to payrolls in May, an increase that caught investors and Wall Street economists off guard.

So, what do we need to hear from the Federal Reserve?

"I think the Fed still wants things to be strong," said Jim Cramer. "But this is the first time that the Fed could say, I think this thing is going on its own."

Watch the video above for more.

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