A sense of humor is important at times like this

One of the world's top Fed watchers, Greg Ip at the Wall Street Journal, has apparently succeeded in digging himself out from underneath the avalanche of central bank news of recent days in order to have a little laugh at the WSJ Real Time Economics Blog:

Fed Creativity: an Exchange

After yet another textbook-rewriting proposal from the Federal Reserve Tuesday, what will it think of next to thaw the credit markets? An exchange between a journalist and a Fed watcher:

Journalist: I keep expecting to get hit by a kitchen sink flying out of the Fed.

Fed watcher: Hold onto that sink. You’ll be able to repo it at the discount window.