This HTML tag is (not very actively) disputed in its abbreviated meaning. W3C, the HTML people, call it "teletype text" (instead of terminal text, although neither is particularly better than the other as) mentioned above. See:

http://www.w3.org/TR/html4/present/graphics.html#edef-TT

I have also seen it called "typewriter text" (as that is what i learned it as). It was defined in the HTML 3.2 specification by W3C.