{
  "$schema": "https://clearmarket.fyi/schema/signal/v1.json",
  "record_id": "CMSIG2026071701",
  "record_slug": "june-fed-funds-upper-bound-seen-3-50-3-75-kalshi-2026-07-17",
  "schema_version": "v0.2.0",
  "provenance_version": "0.2.0",
  "published_at": "2026-07-17T00:00:00.000Z",
  "semantic_title": "Fed funds upper bound anchors in 3.50-3.75 percent range",
  "telemetry": "Kalshi ladder",
  "headline": "June Fed funds upper bound seen 3.50-3.75%: Kalshi",
  "category_tag": "MOMENTUM_REPRICING",
  "secondary_tags": [],
  "detection_path": "news_cycle",
  "pre_news_classification": "concurrent",
  "status": {
    "state": "live",
    "as_of": "2026-07-21",
    "outcome": null,
    "outcome_basis": null,
    "final_price": null,
    "resolved_at": null
  },
  "target_event_id": "CM-EVT-PHWX2H6DM5",
  "target_event_slug": "kxfed-26jul",
  "event_question": "June 2026 Fed funds upper bound",
  "linked_event_ids": [],
  "primary_market": {
    "platform": "kalshi",
    "platform_market_id": "KXFED-26JUL-T3.75",
    "question_raw": "Will the upper bound of the federal funds rate be above 3.75% following the Fed's Jul 29, 2026 meeting?",
    "current_price": 0.07,
    "volume_24h_usd": 530.94,
    "arbitration_model": "kalshi_staff",
    "resolution_source": "Federal Reserve Board of Governors",
    "resolves_at": "2026-08-05T18:05:00Z"
  },
  "related_markets": [],
  "bullets": [
    "Kalshi ladder pins the June 2026 Fed funds upper bound in the 3.50-3.75% range: 98% above 3.50% but only 7% above 3.75%.",
    "June headline CPI at 3.5% is consistent with the market pricing a hold; the distribution shows virtually no chance of a cut pulling the upper bound below 3.50%.",
    "Fed Chair Kevin Warsh's explicit inflation-watch posture aligns with the ladder's sharp drop above 3.75%, signaling the market sees no near-term hike either.",
    "Resolution via the named June 2026 FOMC meeting outcome; any emergency inter-meeting action would also settle the contract."
  ],
  "atomic_claims": [
    {
      "type": "news_event",
      "field_provenance": {
        "story": {
          "tier": "mediated",
          "method": "exa_search",
          "source": "James Veale  \n\nPublished: Jul 17 2026, 11:37 AM EDT",
          "source_url": "https://www.moneytimes.com/articles/60652/20260717/june-inflation-cooled-35-cheaper-gas-fed-says-relief-may-not-last.htm",
          "retrieved_at": "2026-07-20T10:47:34+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": "June CPI cooled to 3.5% year-over-year on cheaper gas, but core prices barely moved and Fed Chair Kevin Warsh warned against declaring victory.",
      "publisher": "James Veale  \n\nPublished: Jul 17 2026, 11:37 AM EDT",
      "published_at": "2026-07-17T00:00:00.000Z",
      "source_url": "https://www.moneytimes.com/articles/60652/20260717/june-inflation-cooled-35-cheaper-gas-fed-says-relief-may-not-last.htm"
    },
    {
      "type": "pm_response",
      "field_provenance": {
        "notes": {
          "tier": "editorial",
          "method": "llm_judge_cm_signal_v1"
        }
      },
      "notes": "Kalshi ladder covers the full upper-bound strike range; distribution consistent with a hold and no imminent hike."
    }
  ],
  "sources": [
    {
      "label": "James Veale  \n\nPublished: Jul 17 2026, 11:37 AM EDT: June Inflation Cooled to 3.5% on Cheaper Gas, but the Fed Says the Rel",
      "url": "https://www.moneytimes.com/articles/60652/20260717/june-inflation-cooled-35-cheaper-gas-fed-says-relief-may-not-last.htm",
      "published_at": "2026-07-17T00:00:00.000Z",
      "retrieved_at": "2026-07-20T10:47:34+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/june-fed-funds-upper-bound-seen-3-50-3-75-kalshi-2026-07-17/",
    "json": "https://clearmarket.fyi/signals/june-fed-funds-upper-bound-seen-3-50-3-75-kalshi-2026-07-17.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"
}