Cramer's week ahead: Focus is on the Fed, which should speed up timeline of rate hikes

It's clear the Fed's emergency policy stance is 'untenable' after Friday's consumer price index report, CNBC's Jim Cramer said.

The Federal Reserve's policy update Wednesday is the most important market event next week, CNBC's Jim Cramer said Friday.

It's clear the Fed's emergency policy stance is "untenable" after Friday's consumer price index report, Cramer contended, and now "the only question is the pace of the rate hikes and the tone of the Fed's language."

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