It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
(visit the link for the full news article)
....Will the Fed's move signal a determined effort by policymakers around the world to avoid economic catastrophe? Or is it a sign of panic which indicates that central bankers have lost control of events? There is no better place right now than Davos, with its extraordinary concentration of brain power, wealth and government muscle, to answer these questions. The danger of yesterday's interest rate cut, much larger than anticipated and enacted at an unscheduled meeting of the Federal Open Markets Committee, is that it will be seen as a panic decision which indicates that things are very much more serious than the still relatively benign consensus among economists on the outlook for the world economy.