Thomson Financial News - Lets face it, cutting by 0.75 pct today rather than in eight days at the regularly scheduled FOMC meeting is meaningless in terms of the fundamental economic outlook. While a deteriorating economy obviously argued for easing at the upcoming meeting (0.50 pct or 0.75 pct was viewed as a done-deal by markets), there can be no doubt that the timing of this mornings move is aimed at supporting global financial markets after yesterdays global equity meltdown.