As a host country, China and its central bank were naturally center stage at last week's G-20 meeting in Shanghai.
But looking at some of the latest numbers, one may be tempted to conclude that the Fed was the real star of the conference on international economic policy coordination.
The growth of America's gross domestic product (GDP) in the fourth quarter of last year was just revised up to an annualized 1 percent from an earlier reported 0.7 percent. And these good growth dynamics carried over into this year: A high consumer confidence and rising employment, wages and salaries continued to boost the household spending, which accounts for 70 percent of the U.S. economy.
There was enough there to cheer up export aficionados in Shanghai. They are looking for another good year, after an $800 billion U.S. contribution to the global economy in 2015. That is how much America bought more than it sold to the rest of the world.
Briefly put, nobody in Shanghai could say better.
And nobody could deny that America's good economic performance was a result of Fed's efforts, because the U.S. fiscal policy has been in a tightening mode over the last five years.