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Cramer says inflation data is driving market action, even during a major earnings week

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CNBC's Jim Cramer bemoaned Wall Street's fixation with the Federal Reserve's next decision about interest rates.

CNBC's Jim Cramer said investors need weaker figures from Friday's labor report if they want stocks to rally, adding that inflation data is what's truly driving market action.

"We often get 'bad news is good news' moments at this point in the business cycle, but it's rarely as excessive as it's been lately," he said. "I wish the market didn't work this way, but that's the reality, and it's why you need to bet against the U.S. economy tomorrow if you're hoping for higher stock prices."

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