{
  "$schema": "https://clearmarket.fyi/schema/signal/v1.json",
  "record_id": "CMSIG2026091202",
  "record_slug": "fed-cut-above-25bp-in-2026-kalshi-3-2026-09-12",
  "schema_version": "v0.2.0",
  "provenance_version": "0.2.0",
  "published_at": "2026-09-12T13:03:33.370Z",
  "semantic_title": "Market puts long odds against a large Fed cut this year",
  "telemetry": "Kalshi 3%",
  "headline": "Fed cut above 25bp in 2026: Kalshi 3%",
  "category_tag": "MOMENTUM_REPRICING",
  "secondary_tags": [],
  "detection_path": "news_cycle",
  "pre_news_classification": "concurrent",
  "status": {
    "state": "live",
    "as_of": "2026-09-16",
    "outcome": null,
    "outcome_basis": null,
    "final_price": null,
    "resolved_at": null
  },
  "target_event_id": "CM-EVT-RWRZ1R3SD6",
  "target_event_slug": "kxlargecut-26",
  "event_question": "Will the Federal Reserve do a rate cut greater than 25 basis points this year?",
  "linked_event_ids": [],
  "primary_market": {
    "platform": "kalshi",
    "platform_market_id": "KXLARGECUT-26",
    "question_raw": "Will the Fed cut rates more than 25 bps in 2026?",
    "current_price": 0.034,
    "volume_24h_usd": 0.14,
    "arbitration_model": "kalshi_staff",
    "resolution_source": "Federal Reserve",
    "resolves_at": "2027-01-01T15:00:00Z"
  },
  "related_markets": [],
  "bullets": [
    "The Kalshi contract puts only 3% odds on the Fed cutting by more than 25 basis points in 2026, per Federal Reserve resolution.",
    "With hike calls intensifying across Wall Street, the near-zero cut probability is fully consistent with the hawkish macro backdrop described by economists.",
    "The companion Kalshi ladder (CM-EVT-4ZQLQPNH91) prices the upper bound at 3.75-4.0%, making a large cut this year a near-statistical impossibility under current pricing.",
    "Resolution requires an official Federal Reserve rate decision exceeding 25bp to the downside in 2026; no meeting currently priced to deliver that."
  ],
  "atomic_claims": [
    {
      "type": "news_event",
      "field_provenance": {
        "story": {
          "tier": "mediated",
          "method": "exa_search",
          "source": "Tanner Stening",
          "source_url": "https://news.northeastern.edu/2026/09/11/fomc-september-interest-rates/",
          "retrieved_at": "2026-09-13T13:04:33+00:00"
        }
      },
      "significance": {
        "threshold": 5,
        "threshold_unit": "rank",
        "passed": true,
        "reason": "surfaced in the daily Exa news-cycle scan; mechanically matched to an active kalshi market"
      },
      "story": "Economists say a Fed rate hike is now nearly certain ahead of the September FOMC meeting, with stubborn inflation and rising Treasury yields driving the call.",
      "publisher": "Tanner Stening",
      "published_at": "2026-09-12T13:03:33.370Z",
      "source_url": "https://news.northeastern.edu/2026/09/11/fomc-september-interest-rates/"
    },
    {
      "type": "pm_response",
      "field_provenance": {
        "notes": {
          "tier": "editorial",
          "method": "llm_judge_cm_signal_v1"
        }
      },
      "notes": "Kalshi contract resolves via Federal Reserve; at 3%, the contract is consistent with the market pricing a hike, not a cut, at the imminent FOMC."
    }
  ],
  "sources": [
    {
      "label": "Tanner Stening: Economists think a rate hike is coming. Here’s what that could mean fo",
      "url": "https://news.northeastern.edu/2026/09/11/fomc-september-interest-rates/",
      "published_at": "2026-09-12T13:03:33.370Z",
      "retrieved_at": "2026-09-13T13:04:33+00:00"
    }
  ],
  "field_provenance": {
    "pm_data": "kalshi_api",
    "news_context": "exa_search",
    "editorial_judgment": "cm_signal_llm_judge"
  },
  "canonical_urls": {
    "html": "https://clearmarket.fyi/signals/fed-cut-above-25bp-in-2026-kalshi-3-2026-09-12/",
    "json": "https://clearmarket.fyi/signals/fed-cut-above-25bp-in-2026-kalshi-3-2026-09-12.json"
  },
  "license": "https://creativecommons.org/licenses/by/4.0/",
  "_provenance_registry": {
    "direct": "Unaltered extraction from primary venue/source API (e.g., polymarket_clob_api, kalshi_api, BLS, FRED). Highest trust tier.",
    "mediated": "Information fetched via grounded agentic retrieval (e.g., perplexity_grounded). MUST carry source_url to the underlying primary source.",
    "derived": "Algorithmic computation from listed inputs. Chain only as fresh as the oldest input timestamp (see as_of).",
    "editorial": "Interpretive classification produced by a versioned LLM prompt template (prompts auditable in github.com/JDSource/clearmarket/prompts)."
  },
  "_provenance_canonical": "https://clearmarket.fyi/schema/provenance/v1"
}