Three central bankers: Mandarins of money
Without the unprecedented actions by major central banks after the financial crisis struck five years ago, the world undoubtedly would have plunged into a depression rivaling that of the 1930s.

Nevertheless, the Federal Reserve, the European Central Bank and the Bank of England, acting individually or together, were not able to prevent massive losses by investors, homeowners and businesses of all sizes; nor were they able to head off a deep recession that left millions without jobs.


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