# Point [44] — minimal FRED context

Point `[44]` contributes one descriptive context card to v1.0. It retrieves one
latest-revised monthly observation for `CPIAUCSL`, `UNRATE`, `FEDFUNDS`, and
`RSAFS` from official FRED endpoints. The common date `2016-05-01` was frozen
before values were requested because May 2016 intersects the official M5
evaluation window `d_1942–d_1969`.

This is not a point-in-time reconstruction. The observations available today
may differ from what was available during 2016. They were not used in
forecasting, model selection, validation, official evaluation, inventory
policy, or any decision. No regime classification, holdout stratification,
correlation, causal inference, or claim that macro conditions explain Walmart
or M5 outcomes is permitted.

The four series are tagged by FRED as `Public Domain: Citation Requested`.
Every published record retains the original source, official series URL,
units, frequency, seasonal adjustment, suggested citation, FRED terms URL,
and an explicit series-level redistribution decision. The local response cache
is ignored by Git; its exact size and SHA-256 are recorded in the tracked
manifest. The web-ready output contains only the four selected observations.

Run the offline configuration check with:

```text
python -m src.economics.fred_context --repository-root . --validate-config-only
```

The network preflight and the single acquisition require the governed point
`[44]` authorization lifecycle. They must not be run from documentation or as
part of ordinary reproduction.