Reacting to market panic with panicky rate cuts is likely to make things worse rather than better.

ECONOMIST: The markets

The meeting came a day after Asian, European and US markets continued to panic sell despite rate cuts and cash injections by central banks, amid widespread fears of a global recession.

BBC: IMF in global 'meltdown' warning

The panic is occurring amidst a galloping rate of change in global business that seems to favor rising nations more than mature nations.

FORBES: Boomers Make The Fear Worse