Fed Actions

Business Spectator - US Fed may step in to soothe markets

When financial markets stabilise and economies start to recover, central banks will need to decide how to phase out extraordinary provisions of liquidity and other credit-market interventions, he said.
In the meantime, some tools created to combat the crisis may become a permanent part of central bank instruments, Mr Kohn said.

I find it a good sign that high officials are mentioning the time when all this will be over and the time to clean up the mess. As stated above, some provisions will become permanent part of the financial world.
Yesterday, Paulson gave up on purchasing toxic mortgages so it will be interesting what happens with the markets until the end of the week. Then, another big event - the G20 meeting, starting tomorrow.
The next couple of days are interesting because the Australian index should either confirm the resistance or break through it.