Number of Fed rate changes before 2027

Exactly 0: If the number of rate changes before 2027 is exactly 0, then the market resolves to Yes. Exactly 1: If the number of rate changes before 2027 is exactly 1, then the market resolves to Yes. Exactly 2: If the number of rate changes before 2027 is exactly 2, then the market resolves to Yes. Exactly 3: If the number of rate changes before 2027 is exactly 3, then the market resolves to Yes. Exactly 4: If the number of rate changes before 2027 is exactly 4, then the market resolves to Yes. Exactly 5: If the number of rate changes before 2027 is exactly 5, then the market resolves to Yes. Exactly 6: If the number of rate changes before 2027 is exactly 6, then the market resolves to Yes. Exactly 7: If the number of rate changes before 2027 is exactly 7, then the market resolves to Yes. Exactly 8: If the number of rate changes before 2027 is exactly 8, then the market resolves to Yes. Exactly 9: If the number of rate changes before 2027 is exactly 9, then the market resolves to Yes. Exactly 10: If the number of rate changes before 2027 is exactly 10, then the market resolves to Yes. Exactly 11: If the number of rate changes before 2027 is exactly 11, then the market resolves to Yes. Exactly 12: If the number of rate changes before 2027 is exactly 12, then the market resolves to Yes. A ‘rate change’ means a single decision that changes the target range, regardless of size (e.g., a 50 bp hike counts as one). A later 50 bp cut counts as an additional rate change.