Cramer's Stock To Buy After A Fed Rate Hike

• On Tuesday, Jim Cramer shared one “surprising stock to buy if [the] Fed moves.”
• He assured the Fed meeting is the most important event of the year.
• Hike or no hike, he assures, stocks will be impacted negatively.

Why is the Fed meeting so important, investors might wonder. Well, Cramer provides two reasons to believe this:

1)   This “momentous decision from the Fed” will come as a surprise for investors either way.

2)   While “the consequences of a rate hike are bad news for stocks (…) the upside from no hike is not positive enough to outweigh that downside (…)negative economic news could keep the Fed on hold but it could also cause earnings estimates to get slashed. Yet, better economic news could cause the Fed to raise rates, which is even worse news for the averages.”

"It's a lose-lose situation for most stocks, creating a treacherous market, something that's all too easily forgotten on bullish days like today," the expert explained in his show Mad Money.

Cramer recently went over a one stock that investors should be buying (or, not selling) if the Fed decides to tighten this week – also noting that people should be paying plenty of attention to Forex swings.

The stock is question is Home Depot Inc HD. “While housing will be hurt by any increase in mortgage rates, I just don't think Home Depot's numbers will come down. Therefore, the stock is a buy. I think it's exactly the kind of quarterback your portfolio needs," he assured.

Some other stocks Camer likes include:

• Bristol-Myers Squibb Co BMY
• Exelixis, Inc. EXEL, one of the expert’s favorites
• General Electric Company GE, which is leaving the financial business, and provides the best organic growth in the segment and an attractive yield. So, “hold on,” Cramer advises. “It’s a bear market for industrials, but what GE is doing is right.”
• Marathon Oil Corporation MRO, “the toughest one of the majors to own.” However, Cramer added, “I am not as bearish about oil as Goldman Sachs. 20 bucks? No! Not going there!”

Disclosure: Javier Hasse holds no stakes in any of the securities mentioned