Cramer: Bernanke Understands This History, Do You?

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On Wall Street, investors weren't sure what to make of the market after Ben Bernanke left rates unchanged but said he wasn't measuring the success of Fed policy based on the stock market.

That means the U.S. central bank will continue buying $85 billion in debt each month and hold interest rates near zero.

Some say it's a sign that headwinds are blowing. Others argue that it's opening the door for serious inflation.

Jim Cramer, however, said if you're an investor there's one big takeaway from Wednesday's Fed meeting. That is, if Ben Bernanke is staying the course, you should too.

As a student of the Great Depression, Cramer thinks Ben Bernanke is all too aware of the missteps that could still be made – even years after the worst of the decline.

It's happened before.

"Bernanke knows that in 1937, after three years of 12% economic growth that took unemployment from 25% to 14%, the Fed, the US President and Congress declared victory," Cramer explained. "Then FDR and Congress raised income taxes – they took the top income tax bracket from 59% to 75% - and instituted a 2% payroll tax for Social security."

Their goal was to address long-term deficits and keep inflation in check. Meanwhile, the Fed tightened money supply.

The result was the recession of 1938.

Sometimes referred to as the Roosevelt Recession, the economy stalled out, unemployment jumped and manufacturing output plunged.

FPG | Taxi | Getty Images

Although the downturn lasted 13 months, employment did not regain the 1937 level until the United States entered World War II in late1941

"Ben Bernanke knows that and he doesn't want history to repeat itself," Cramer said. "He won't go down the same path."

And Cramer isn't worried that Congress and President Obama may exert pressure to act.

"He's certainly not going to start to tighten because some people who don't understand the history are pressing him to do so."

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If anything, Cramer believes Bernanake will err on the conservative side, which in this equation is too much growth.

"Bernanke's a rigorous guy, and a true student of American financial history. He's going to play it safe the way his predecessors should have played it 76 years ago."

As Cramer said above, as long as Bernanke stays the course, he thinks you should too.

Call Cramer: 1-800-743-CNBC

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