The title of the NYT’s editorial on the nomination of Henry Paulson to be the next Treasury secretary is, “A Secretary for Troubling Times.” Because, you know, the economy’s in such terrible shape:

The important questions are why Mr. Paulson accepted the nomination and what his willingness to serve signals about the challenges facing the economy. In the past, the administration has had trouble attracting top talent to the Treasury because its officials were expected to shill for policies that were largely based on ideology and politics, not rigorous economics and sound fiscal practices. […] Because he commands international respect and is not responsible for the policies that got the country to this juncture, Mr. Paulson may be just the person to buy America some time to get back on track. If persuasion doesn’t work, the consequences of unchecked global imbalances could range from a slow economic decline to rapid and severe recession. Mr. Paulson would most likely be a steady hand in those situations, as well.

Last time I checked, the U.S. economy was experiencing the fastest growth in 2 1/2 years. I think Paulson was a decent pick, but we’re not in need of an economic savior just yet.