CNBC's Jim Cramer on Thursday said Federal Reserve action made another week of mind-blowing unemployment filings moot on Wall Street.

Fed Chairman Jerome Powell earlier in the day authorized injecting another $2.3 trillion into struggling businesses and governments to help blunt the economic damage of the pandemic, which has led to unprecedented levels of unemployment claims.

"Without Powell's ... extraordinary announcement, those hideous jobless claims would've pancaked the stock market," the "Mad Money" host said. "Between the Fed's latest moves and the $2.2 trillion rescue package from Congress, and some more that's on the way, it's really clear to me that the policymakers are thinking big and they're willing to spend big to keep this economy afloat."

Another 6.6 million Americans filed for jobless benefits in the past week amid the coronavirus pandemic, totaling up to more than 16 million applications in the past three weeks. The high amount of turnovers is a result of the closures of scores of non-essential businesses across the country as officials try to get a hand on the deadly virus.

The stock market managed to climb about 1% higher during the session, with the Dow Jones advancing about 286 points, or 1.22%, powered by the central bank's decision to take those further steps.

"I know we're in lockdown now and it's hard to judge the future, but at least when it comes to the economy, both the Fed and our elected leaders are on the same side," Cramer said. "Now, we just need to nail down that public-health side of the equation."

Cramer broke down the corporate earnings reports he has circled on his calendar next week. All earnings and revenue estimates are based on FactSet projections.