Editorial Board

Central Bankers Weren't Meant to Be Heroes

Good economic policy means never having to ask your central bank to be a hero.

Heroic architecture.

Photographer: Andrew Harrer/Bloomberg

The U.S. recovery is starting to look halfway respectable. Europe's economies, meanwhile, face the risk of a third recession in seven years. There's a lesson in that contrast: Good economic policy means never having to ask your central bank to be a hero.

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