More hilarity ensued. In Europe, the European Central Bank, Denmark, Switzerland, and Sweden have imposed negative deposit rates, with the latter becoming the first to make its main repo rate negative.
Asian economies are dropping rates too. Thailand, South Korea, China, India, the Philippines, Indonesia - all surprised markets with rate cuts. More central banks are expected to join the party.
Before even these dominoes fell, Japan's "Abenomics" announced a bigger yen bazooka via its QE programme, as well as a major rebalance of its pension fund holdings to favour more equities, both foreign and domestic. It was the latest attempt to beat out a decades-long rout of stagflation.
A Japanese asset manager told Peek Ahead that in Japan, earthquakes may be trouble but central banks are "even more so dangerous".
Which brings us to the Fed and pressure to hike interest rates. What combination of economic figures exactly do the chicken gut diviners need to see to hit the button?