Cramer Remix: Here’s what Cramer has to tell you about the banks
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Jim Cramer was confident in financial stocks' ability to recover from hits in the market, just like oil prices tend to come up after hitting session lows. "Here's what I have to tell you about banks. Initially they go down because people are looking for three rate hikes, and then they go back up. So just like I told you to buy the oils when they hit the $47 downside target, in a couple days we'll buy the banks. They'll be right again," Cramer said. The "Mad Money" host spoke after the Federal Reserve announced its first rate hike of 2017.

Federal Reserve Chair Janet Yellen speaks during a news conference in Washington, March 15, 2017. Yuri Gripas | Reuters

Cramer said the move was a gift to the markets, which the Fed could have held hostage if it wanted to make a statement about President Donald Trump's pro-growth policies being too inflationary. "Today, the Fed set us free to invest in reality and banished the perception that it wants to derail stocks, bonds, and the economy itself. That's good news," Cramer said. Looking back at countless talks with CEOs both on and off the show, Cramer painted a picture of a strengthening economy in which construction is booming, manufacturing orders are up, and corporations are hiring.

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One such CEO was Phillip Green, the chief executive and chairman of Texas-based bank Cullen/Frost. Cullen/Frost's stock has been on the up-and-up since 2016, and business is still growing thanks to improved sentiment around markets and the overall economy, Green told Cramer. "The attitude is markedly better," Green said. "We saw really good loan growth in the fourth quarter, we saw a real turnaround, and then in the period of time since the end of the year we've continued to see strong loan growth." In light of Tesla CEO Elon Musk's announcement that he would buy $25 million of Tesla's common stock in an effort to raise capital for the tech giant, Cramer decided to cross-reference that, along with Twitter CEO Jack Dorsey's similar move in February, with some past buybacks.

Where the CEOs of Allergan, JPMorgan, Restoration Hardware, and Wynn Resorts succeeded in similar initiatives, Tesla and Twitter could be different, the "Mad Money" host said. "Let's put it this way: neither man needed to buy," Cramer said. "But with both, I want to wait and see because neither company's making money and there's a lot more that could go wrong with these two companies than the others we have gone over."

Eduardo Munoz Alvarez | AFP | Getty Images