The FED interest rates are defined in this market by the upper bound of the target federal funds range. The decisions on the target federal fund range are made by the Federal Open Market Committee (FOMC) meetings.

This market will resolve to “Yes” if following the Federal Reserve's April/May 2024 meeting the upper bound of the target federal funds rate is decreased by 50 or more basis points below the level it was prior to the meeting. Otherwise, it will resolve to “No.”

The resolution source for this market is the FOMC’s statement after its meeting scheduled for April 30 - May 1, 2024 according to the official calendar: https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm.

The level and change of the target federal funds rate is also published at the official website of the Federal Reserve at https://www.federalreserve.gov/monetarypolicy/openmarket.htm.

This market may resolve as soon as the FOMC’s statement for their April/May meeting with relevant data is issued. If no statement is released by May 31, 2024, 11:59 PM ET, this market will resolve to the "No change" bracket.