Macroeconomic lexicon

Watching the Wall Street Journal’s page tick over…

“Contained”

“De-coupled”

“Calm”

The Federal Reserve Board, confronted with a global stock sell-off fanned by increased fears of a recession, on Tuesday cut its target for the federal funds rate by three-quarters of a percentage point to 3.5%.

The blog the Big Picture is running through the Futures markets, too (since it saves me messing about with more screenshots of my own. Short version: not good). He also point out that the overnight falls were all very near the limits allowed (before ‘time’ is called on the bets).