And the kitchen sink too...

Fed surprises no-one with rate cut, and pledges to throw everything it has at the enemy...

(relevant language from today's Fed commentary)

The Committee is also evaluating the potential benefits of purchasing longer-term Treasury securities. Early next year, the Federal Reserve will also implement the Term Asset-Backed Securities Loan Facility to facilitate the extension of credit to households and small businesses. The Federal Reserve will continue to consider ways of using its balance sheet to further support credit markets and economic activity.