{
  "_notice": {
    "type": "free_key_offer",
    "message": "Free and anonymous access is staying. If this endpoint is in your pipeline, a free key adds advance notice before any schema change or deprecation. POST /v1/keys {\"email\": \"you@firm.com\"} — nothing else required. Something broken or missing? hello@clearmarket.fyi reaches a human.",
    "docs": "https://clearmarket.fyi/for-data/",
    "policy": "This field is additive and its shape will not change."
  },
  "event_id": "CM-EVT-9J8QJ6ZDT4",
  "slug": "fed-emergency-rate-cut-before-2027",
  "question": "Will the Federal Reserve implement an emergency rate cut before 2027?",
  "category": "economics",
  "event_type": "BINARY",
  "ladder_distribution": null,
  "tags": [
    "economics",
    "fed-rates",
    "emergency-monetary-policy",
    "economic-crisis-indicator",
    "finance",
    "2026"
  ],
  "catalyst_types": [],
  "catalyst_dates": [],
  "editorial_notes": "This event tracks whether the Federal Reserve Board will convene an unscheduled FOMC meeting and cut the target federal funds rate before January 1, 2027. A single Polymarket binary resolves YES on any emergency inter-meeting cut announced via official Federal Reserve Board communications. Resolution follows Polymarket's UMA Optimistic Oracle against Federal Reserve Board official announcements. No Kalshi equivalent is present, so no cross-platform structural comparison applies here.",
  "venues_covered": [
    "polymarket"
  ],
  "primary_market_id": "CM-MKT-8WCYMYC5P0",
  "current_primary_mark": {
    "last_price": 0.06,
    "implied_probability": 0.06
  },
  "created_at": "2026-07-23T21:11:14.426158+00:00",
  "updated_at": "2026-07-23T21:11:14.426158+00:00",
  "markets": [
    {
      "market_id": "CM-MKT-8WCYMYC5P0",
      "event_id": "CM-EVT-9J8QJ6ZDT4",
      "platform": "polymarket",
      "platform_market_id": "0x93a3b80b1fb485057add882b55d12011ea011fedd9abededad86ac6cb53a2802",
      "question": "Fed emergency rate cut before 2027?",
      "description": "This market will resolve to \"Yes\" if the Federal Open Market Committee (FOMC) holds an emergency meeting after which the upper bound of the target federal funds rate is lowered between November 11, 2025 and December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to \"No\".\n\nAn emergency meeting is defined as any unscheduled meeting called by the Federal Reserve Board or the Federal Open Market Committee (FOMC) apart from the regular eight pre-scheduled meetings for 2025 and the regular eight pre-scheduled meetings for 2026.\n\nThe resolution source will be official announcements from t",
      "contract_type": "binary",
      "settlement_currency": "USDC",
      "underlying_reference": "Federal Reserve Board official announcements of an unscheduled FOMC emergency meeting with a target federal funds rate cut between November 11, 2025 and December 31, 2026.",
      "close_at": "2026-12-31T00:00:00Z",
      "resolve_at": "2026-12-31T00:00:00Z",
      "status": "open",
      "resolution": {
        "rules_raw": "This market will resolve to \"Yes\" if the Federal Open Market Committee (FOMC) holds an emergency meeting after which the upper bound of the target federal funds rate is lowered between November 11, 2025 and December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to \"No\".\n\nAn emergency meeting is defined as any unscheduled meeting called by the Federal Reserve Board or the Federal Open Market Committee (FOMC) apart from the regular eight pre-scheduled meetings for 2025 and the regular eight pre-scheduled meetings for 2026.\n\nThe resolution source will be official announcements from the Federal Reserve’s website (federalreserve.gov) or credible news sources reporting on the emergency meeting.",
        "arbitration_model": "uma_oracle",
        "proposer": "managed_whitelist",
        "source": null,
        "source_status": "platform_named",
        "source_citation": "federalreserve.gov",
        "sources": [
          {
            "name": "federalreserve.gov",
            "url": "federalreserve.gov",
            "provenance": "platform_api"
          },
          {
            "name": "credible news sources",
            "url": null,
            "provenance": "clearmarket_editorial"
          }
        ],
        "source_of_record": "federalreserve.gov",
        "source_mechanism": "single_authority",
        "source_type": null,
        "source_quality": null,
        "source_commitment": "named",
        "source_commitment_subtype": "named",
        "source_hedge_text": null
      },
      "rcg": {
        "grade": "C",
        "score": 77,
        "caps": [
          "multi_source_no_conflict_rule"
        ],
        "applied_factors": 7
      },
      "last_price": 0.06,
      "implied_probability": 0.06,
      "volume_24h_usd": 25,
      "volume_total_usd": 122427.69308100003,
      "settlement_style": "occurrence",
      "direction": "occurrence",
      "threshold": null,
      "question_id": "CMX-833A47D979",
      "also_on": [
        {
          "venue": "kalshi",
          "market_id": "CM-MKT-K3JB4CCMJ7",
          "price": 0.049
        },
        {
          "venue": "kalshi",
          "market_id": "CM-MKT-253XFB1NK9",
          "price": 0.014
        },
        {
          "venue": "kalshi",
          "market_id": "CM-MKT-6YVBZNCJ97",
          "price": 0.001
        }
      ],
      "tags": [
        "fed",
        "federal reserve emergency",
        "monetary-policy",
        "us-economy"
      ],
      "eligibility_screens": null
    }
  ],
  "resolution_log": [],
  "_provenance": {
    "source": "clearmarket.fyi",
    "ref": "CM-EVT-9J8QJ6ZDT4",
    "terms": "Attribution required. clearmarket.fyi"
  }
}