In saving the world, the Fed beats Treasury

With a new year of recession-fighting upon us, it’s a fitting time to do a performance evaluation of America’s policymakers. How well did they handle a true crisis? The credit-market crisis that erupted in early September has been aptly described as a once-in-a-lifetime event that quickly reverberated through the global financial system, bringing it uncomfortably close to a complete meltdown. Along the way, it wreaked havoc with economic growth, throwing most of the industrialized economies into a deep recession.img src=”” height=”1″ width=”1″/