If the Federal Reserve cuts rates by more than 25 basis points before Dec 31, 2026, then the market resolves to Yes. For example, this market will resolve to Yes if the Federal Reserve cuts rates by 50 basis points during one day, non-scheduled meetings are included. The Federal Reserve cutting rates by 25 basis points in January and 25 basis points in March would not be sufficient to resolve this market. This market will close and expire early if the event occurs.