Recession similarity
Four days until the #FOMC meeting, where Powell will likely cut by .25 (odds are currently 50% for .25 and 50% for .50).
The similarities between 2007 and 2024 are wild!
Charts in comments:
Fed's First Rate Cut:
Sept 18, 2007
Sept 18, 2024 (high probability)
Unemployment Rate
Sept 2007: 4.7
Sept 2024: 4.2
US Inflation Rate YoY
Sept 2007: 2.5
Sept 2024: 2.5
US Housing Starts:
Sept 2007: 1.238
Sept 2024: 1.235
US Leading Economic Activity
Sept 2007: 100.4
Sept 2024: 100.4
US Existing Home Sales
Sept 2007: 4.5 Million
Sept 2024: 3.95 Million
(This post is not calling for a 2007 crash. I am simply pointing out the intriguing similarities in timing and economic indicators.$S&P 500(.SPX)$
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