{
  "$schema": "https://clearmarket.fyi/schema/signal/v1.json",
  "record_id": "CMSIG2026062705",
  "record_slug": "fed-funds-upper-bound-by-year-end-kalshi-3-75-4-00-2026-06-27",
  "schema_version": "v0.2.0",
  "provenance_version": "0.2.0",
  "published_at": "2026-06-27T00:00:00.000Z",
  "semantic_title": "Fed funds upper bound seen in 3.75 to 4 percent range by year end",
  "telemetry": "Kalshi ladder",
  "headline": "Fed funds upper bound by year-end: Kalshi 3.75-4.00%",
  "category_tag": "MOMENTUM_REPRICING",
  "secondary_tags": [],
  "detection_path": "news_cycle",
  "pre_news_classification": "concurrent",
  "target_event_id": "CM-EVT-MR57HVWJT3",
  "target_event_slug": "kxfed-26dec",
  "event_question": "Fed funds upper bound, year-end 2026",
  "linked_event_ids": [],
  "primary_market": {
    "platform": "kalshi",
    "platform_market_id": "KXFED-26DEC-T4.00",
    "question_raw": "Will the upper bound of the federal funds rate be above 4.00% following the Fed's Dec 9, 2026 meeting?",
    "current_price": 0.36,
    "volume_24h_usd": 0,
    "arbitration_model": "kalshi_staff",
    "resolution_source": "Federal Reserve Board of Governors",
    "resolves_at": "2026-12-09T19:05:00Z"
  },
  "related_markets": [],
  "bullets": [
    "Kalshi ladder pins the year-end Fed funds upper bound in the 3.75-4.00% range: 55% above 3.75% but only 36% above 4.00%.",
    "Solid first-half economic data supports the Fed holding, consistent with market pricing clustering around one to two cuts by year-end.",
    "Near-term Kalshi ladder for the June meeting implies the current upper bound at 3.50-3.75% (90% above 3.50%, only 34% above 3.75%), showing modest easing priced for H2.",
    "Resolves via Federal Reserve official rate decision; year-end ladder settles on the December 2026 FOMC outcome."
  ],
  "atomic_claims": [
    {
      "type": "news_event",
      "field_provenance": {
        "story": {
          "tier": "mediated",
          "method": "exa_search",
          "source": "economictimes.indiatimes.com",
          "source_url": "https://economictimes.indiatimes.com/markets/us-stocks/news/wall-street-week-ahead-jobs-data-rate-bets-in-focus-as-us-stocks-close-solid-first-half/articleshow/132028322.cms",
          "retrieved_at": "2026-06-29T12:28:56+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": "Wall Street enters the second half focused on jobs data and rate bets after stocks closed a solid first half.",
      "publisher": "economictimes.indiatimes.com",
      "published_at": "2026-06-27T00:00:00.000Z",
      "source_url": "https://economictimes.indiatimes.com/markets/us-stocks/news/wall-street-week-ahead-jobs-data-rate-bets-in-focus-as-us-stocks-close-solid-first-half/articleshow/132028322.cms"
    },
    {
      "type": "pm_response",
      "field_provenance": {
        "notes": {
          "tier": "editorial",
          "method": "llm_judge_cm_signal_v1"
        }
      },
      "notes": "Kalshi's year-end ladder shows markets expect modest rate relief in H2 2026, with the 3.75-4.00% range as the modal outcome."
    }
  ],
  "sources": [
    {
      "label": "economictimes.indiatimes.com: Wall Street Week Ahead: Jobs data, rate bets in focus as US stocks clo",
      "url": "https://economictimes.indiatimes.com/markets/us-stocks/news/wall-street-week-ahead-jobs-data-rate-bets-in-focus-as-us-stocks-close-solid-first-half/articleshow/132028322.cms",
      "published_at": "2026-06-27T00:00:00.000Z",
      "retrieved_at": "2026-06-29T12:28:56+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-funds-upper-bound-by-year-end-kalshi-3-75-4-00-2026-06-27/",
    "json": "https://clearmarket.fyi/signals/fed-funds-upper-bound-by-year-end-kalshi-3-75-4-00-2026-06-27.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"
}