Wednesday's coordinated action by global central banks was sparked by several weeks of worrying market turmoil and facilitated by several years of joint firefighting by the world's leading central bankers, according to Wall St Journal reports.
Fed Chairman Ben Bernanke and the world's other leading central bankers have developed close ties after fighting crises since 2007, which has made it easier for them to take swift action together when needed. And worries at the Fed and other central banks have been building since the summer that Europe's problems were boiling over into global markets.
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