{
  "$schema": "https://clearmarket.fyi/schema/signal/v1.json",
  "record_id": "CMSIG2026070202",
  "record_slug": "fed-cut-over-25bp-in-single-meeting-kalshi-9-2026-07-02",
  "schema_version": "v0.2.0",
  "provenance_version": "0.2.0",
  "published_at": "2026-07-02T00:00:00.000Z",
  "semantic_title": "Fed jumbo cut consensus remains fractured near historic lows",
  "telemetry": "Kalshi 9%",
  "headline": "Fed cut over 25bp in single meeting: Kalshi 9%",
  "category_tag": "MOMENTUM_REPRICING",
  "secondary_tags": [],
  "detection_path": "news_cycle",
  "pre_news_classification": "concurrent",
  "target_event_id": "CM-EVT-RWRZ1R3SD6",
  "target_event_slug": "kxlargecut-26",
  "event_question": "Will the Federal Reserve cut interest rates by more than 25 basis points in a single action 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": 0.089,
    "volume_24h_usd": 48.86,
    "arbitration_model": "kalshi_staff",
    "resolution_source": "Federal Reserve",
    "resolves_at": "2027-01-01T15:00:00Z"
  },
  "related_markets": [],
  "bullets": [
    "Kalshi puts only 9% on the Federal Reserve cutting by more than 25 basis points in a single meeting, resolved via Federal Reserve data.",
    "Despite a sharply weak June payroll print, the market prices out an emergency-scale cut, consistent with the concurrent inflation concern flagged in the stagflation narrative.",
    "The 9% probability reflects the market pricing the Fed as constrained by inflation even as labor weakens, a paralysis signal, not a pivot signal.",
    "The companion Kalshi ladder (CM-EVT-PHWX2H6DM5) implies cuts will come gradually, with the upper bound seen settling in the 3.50-3.75% range rather than dropping abruptly."
  ],
  "atomic_claims": [
    {
      "type": "news_event",
      "field_provenance": {
        "story": {
          "tier": "mediated",
          "method": "exa_search",
          "source": "investing.com",
          "source_url": "https://www.investing.com/analysis/feds-nightmare-scenario-has-arrived-weak-jobs-high-inflation-200683221",
          "retrieved_at": "2026-07-05T10:07:52+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": "Stagflationary conditions, weak June jobs alongside sticky inflation, described as the Fed's nightmare scenario.",
      "publisher": "investing.com",
      "published_at": "2026-07-02T00:00:00.000Z",
      "source_url": "https://www.investing.com/analysis/feds-nightmare-scenario-has-arrived-weak-jobs-high-inflation-200683221"
    },
    {
      "type": "pm_response",
      "field_provenance": {
        "notes": {
          "tier": "editorial",
          "method": "llm_judge_cm_signal_v1"
        }
      },
      "notes": "Kalshi binary contract resolving via Federal Reserve; low probability is the market's verdict on Fed capacity to act aggressively in a stagflationary environment."
    }
  ],
  "sources": [
    {
      "label": "investing.com: Fed’s Nightmare Scenario Has Arrived: Weak Jobs, High Inflation | Inve",
      "url": "https://www.investing.com/analysis/feds-nightmare-scenario-has-arrived-weak-jobs-high-inflation-200683221",
      "published_at": "2026-07-02T00:00:00.000Z",
      "retrieved_at": "2026-07-05T10:07:52+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-over-25bp-in-single-meeting-kalshi-9-2026-07-02/",
    "json": "https://clearmarket.fyi/signals/fed-cut-over-25bp-in-single-meeting-kalshi-9-2026-07-02.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"
}