CNBC's Jim Cramer urged Jerome Powell to soften his rhetoric on interest rate hikes ahead of the Federal Reserve chairman's expected comments at an event in Texas on Wednesday night.

"All he has to do is say 'I'm winning in some places,'" Cramer said on "Squawk on the Street." "'And it shows that maybe after the December hike, if I keep getting [wins], maybe I should pause.'"

"He can't say, 'I take it back, I want a do-over,'" Cramer added.

Cramer has been critical of Powell, agreeing with President Donald Trump, but for different reasons, that rate increases should be halted. Cramer has argued the central bank should increase rates one more time this year and then "wait and see."

The Fed has already raised rates three times this year, and one more is expected in December.

Last month, Powell said the cost of borrowing money was a long way from so-called neutral, sparking concerns about a more aggressive Fed tightening that led to October being the worst month for the since September 2011.

Powell and Dallas Federal Reserve Bank President Robert Kaplan are expected to speak Wednesday on global economic issues in Dallas.

Cramer said Wednesday that Powell softening his rhetoric would give the Fed chief a "little wiggle room" but "would also explain that he doesn't have to burn down the village to save it."

The Fed declined to comment on Cramer's remarks.