Four days until the #FOMC meeting, where Powell could cut rates by 0.25% (50% chance of a 0.25 cut, 50% chance of a 0.50 cut).

The similarities between 2007 and 2024 are striking!

Charts from comments:

First Fed rate cut:
September 18, 2007
September 18, 2024 (high probability)

Unemployment rate
September 2007: 4.7
September 2024: 4.2

US inflation rate year-on-year
September 2007: 2.5
September 2024: 2.5

US housing starts:
September 2007: 1.238
September 2024: 1.235

US key economic activity
September 2007: 100.4
September 2024: 100.4

US existing home sales
September 2007: 4.5 million
September 2024: 3.95 million

(This post does not predict the crash in 2007. I am just pointing out the interesting similarities in timing and economic indicators.

Fascinating observation! The parallels between 2007 and 2024 are indeed striking. The Fed's potential rate cut and similar economic indicators are cause for concern. Let's see how the FOMC meeting plays out and if history repeats itself.