The US fed unexpectedly cut the Fed Fund rate and the Discount rate by 50bps to 4.75% and 5.25% respectively in the FOMC meeting held on the 18th of September. This caused markets globally to move up sharply. Both the BSE Sensex and the Nifty were up by 4% the next day in reaction to the cut in the fed rates. The BSE Sensex was up by 654 points while the Nifty was up by 186 points. The table below depicts the movement of various global indices immediately after the fed rate cut.
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If college students could have one wish it might be to receive a good college education without having to spend the next twenty years paying off massive student loans and college student credit card debt.
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