In a recent episode of CNBC's "Mad Money," host Jim Cramer delivered a warning to investors regarding the current state of the economy. He emphasized the importance of maintaining a balanced portfolio during this challenging period and shared strategies to navigate potential losses.

Cramer urged investors to be prepared for the economic slowdown and advised diversifying their holdings to mitigate risks. He specifically recommended several stocks that are less reliant on the overall health of the economy, including tech giants NVIDIA Corp, Meta Platforms Inc, Alphabet Inc, and Apple Inc. He also mentioned pharmaceutical companies Merck & Co Inc and Pfizer Inc as potential investment options.

Additionally, Cramer suggested considering companies such as Builders FirstSource, Inc, which could benefit from future rate cuts by the Federal Reserve. However, he cautioned against investing solely in companies that rely on rate cuts, as this could lead to significant losses. Furthermore, he advised investors not to focus exclusively on tech and pharmaceutical stocks, as they may underperform when the Fed eventually reduces rates.

The future of the U.S. economy remains uncertain, with various factors contributing to its trajectory. Concerns about the Federal Reserve's independence from political influence have been heightened amid the approaching 2024 presidential election. The scrutiny on Fed Chairman Jerome Powell is increasing as a result.

Although the U.S. economy has been a global growth driver, doubts are arising due to domestic political divisions, global uncertainties, and the need for liquidity to refinance debts accumulated during periods of low-interest rates and central bank interventions. Economist Mohamed El Erian has emphasized the importance of addressing these concerns.

In addition, the traditional Wall Street adage "sell in May and go away" might not hold true this year, as evidence suggests positive stock market performance during the historically weak May-October period. This indicates that following historical trends and selling stocks in May may not be the best strategy for investors.

As investors navigate the challenges of the current economic slowdown, Cramer's advice to maintain a balanced portfolio, diversify holdings, and consider stocks less reliant on the overall health of the economy could prove valuable in ensuring financial stability.