Fed cuts interest rates for first time in 4 years – here's what that means for your wallet [FOX Business Network]
TransUnion (TRU)
Last transunion earnings: 4/28 06:50 am
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Source: FOX Business Network
Wednesday, a move that was largely anticipated by economists as inflation continues to inch sustainably toward a 2% target rate. The central bank announced it would lower the federal funds rate by 50 basis points to a range of 4.75% to 5%, as it turns its attention to rising unemployment. The August jobs report showed a net gain of 142,000 jobs and unemployment at 4.2%. The central bank predicted the unemployment rate will increase to 4.4% and stay there. Federal Reserve Chair Jerome Powell said at a press conference on Wednesday that the U.S. labor market is solid, and the rate cut is intended to maintain its strength. Inflation rose 2.5% in August , the smallest 12-month increase since February 2021. Core inflation, which excludes more volatile food and energy prices, rose 3.2% and increased 0.3% monthly in August. "The FOMC projections highlighted that inflation is returning to target more quickly than the Committee had expected in June and that the unemployment rate has move
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News
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TRU
Earnings
- 7/25/24 - Beat
TRU
Sec Filings
- 9/17/24 - Form 4
- 9/13/24 - Form 144
- 9/5/24 - Form 4
- TRU's page on the SEC website