{
  "topic_id": "D07-F01-A03",
  "title": "Five-observation EFFR comparison",
  "evidence_boundary": {
    "provider": "Federal Reserve Bank of New York",
    "endpoint_path": "rates/all/search.json",
    "parameters": {
      "startDate": "2024-09-13",
      "endDate": "2024-09-26",
      "type": "rate"
    },
    "retrieved_utc": "2026-07-22T23:23:25Z",
    "provider_fields": ["effectiveDate", "type", "percentRate"],
    "interpretation": "Provider observations are inputs. SMA and WMA values are author-derived arithmetic, not provider fields, causal findings, forecasts, or trading signals."
  },
  "observations": [
    {"effectiveDate": "2024-09-16", "type": "EFFR", "percentRate": 5.33},
    {"effectiveDate": "2024-09-17", "type": "EFFR", "percentRate": 5.33},
    {"effectiveDate": "2024-09-18", "type": "EFFR", "percentRate": 5.33},
    {"effectiveDate": "2024-09-19", "type": "EFFR", "percentRate": 4.83},
    {"effectiveDate": "2024-09-20", "type": "EFFR", "percentRate": 4.83}
  ],
  "window": 5,
  "weights_oldest_to_newest": [1, 2, 3, 4, 5],
  "denominator": 15,
  "derived": {
    "sma": 5.13,
    "weighted_products": [5.33, 10.66, 15.99, 19.32, 24.15],
    "weighted_sum": 75.45,
    "wma": 5.03
  }
}