But Bernanke’s impressive research on the Great Depression does not mean that he can prevent the next recession or depression, for stopping deflation hardly solves all problems. After all, the US went off the gold standard in 1933, and the Fed cut the discount rate to 1.5% in 1934, ending deflation (except for minor episodes); but the unemployment rate did not fall consistently below 15% until 1941 and the onset of World War II.
但贝南克对经济大萧条令人钦佩的研究成果并不意味着他能够阻止下一次经济衰退或经济萧条，因为防止通货紧缩并不能解决所有问题。归根结底，美国在1933年就废止了金本位制，而且1934年美联储曾把贴现率降至1.5%，从此为通货紧缩画上了句号（小范围内的通货紧缩除外）。虽然如此，直到1941年和第二次世界大战爆发，失业率也并没有稳定地降到15%以下。