Resolves YES if the US Federal Reserve decreases its target for the federal funds rate (defined as the midpoint of its target range), outside of its regularly scheduled Federal Open Market Committee (FOMC) meetings, and before the end of 2025, local time in DC.

Decisions made at a rescheduled FOMC meeting will not count if the reason for the rescheduling is unrelated to expediency, e.g. if there is a natural disaster or other incidental reason a meeting must be rescheduled.

Whether a rescheduling is for the purposes of expediency, or is incidental, will be based on public statements from the Fed.