Stronger job growth, housing prices and retail activity make the case that the Federal Reserve can raise rates by a quarter point, said TheStreet's Jim Cramer. Cramer said that rates need to normalize and the economy's current characteristics make the timing right here. He said that the consumer is feeling robust and that is evidenced by higher home prices and more shopping at the malls. Furthermore, it has been fairly placid on the overseas front so there should be nothing stopping Chairperson Janet Yellen from hiking rates.
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.