🇺🇸 Last 2 times the Fed’s first cut was 50+ bps:

▫️Jan 3, 2001

- S&P 500 fell ~39% next 448 days

- Unemployment rose another 2.1%

- Recession

▫️Sep 18, 2007

- S&P 500 fell ~54% next 372 days

- Unemployment rose another 5.3%

- Recession