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ChanceFocus Asset Management (Shanghai) Company 13

fomc0

Examine the excerpt from a central bank's release below. Classify it as HAWKISH if it advocates for a tightening of monetary policy, DOVISH if it suggests an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: The U. S. international trade deficit narrowed in May, as a large increase in exports of goods and services more than offset a moderate increase in imports. Answer:

dovish

The U. S. international trade deficit narrowed in May, as a large increase in exports of goods and services more than offset a moderate increase in imports.

fomc1

Scrutinize the sentence provided from a central bank's press release. Determine it as HAWKISH if it proposes a tightening of monetary policy, DOVISH if it discloses an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Based on historical experience, it seems improbable that all of the large rise in multifactor productivity could be attributed to cyclical or transitory factors. Answer:

dovish

Based on historical experience, it seems improbable that all of the large rise in multifactor productivity could be attributed to cyclical or transitory factors.

fomc2

Evaluate the provided sentence from a central bank's statement. Mark it as HAWKISH if it signifies a tightening of monetary policy, DOVISH if it points towards an easing of monetary policy, or NEUTRAL if the stance is equanimous. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: This was also an era when the principal mortgage lenders, savings and loans, were sometimes constrained from satisfying mortgage demands by binding Regulation Q ceilings that eroded their deposit base when interest rates rose. Answer:

neutral

This was also an era when the principal mortgage lenders, savings and loans, were sometimes constrained from satisfying mortgage demands by binding Regulation Q ceilings that eroded their deposit base when interest rates rose.

fomc3

Study the sentence below from a central bank's briefing. Categorize it as HAWKISH if it promotes a tightening of monetary policy, DOVISH if it represents an easing of monetary policy, or NEUTRAL if the stance is nonpartisan. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: The available data for October suggested that the contribution of the change in net exports to real GDP growth in the fourth quarter would be much less negative than the drag of nearly 2 percentage points in the third quarter. Answer:

neutral

The available data for October suggested that the contribution of the change in net exports to real GDP growth in the fourth quarter would be much less negative than the drag of nearly 2 percentage points in the third quarter.

fomc4

Analyse the following sentence from a central bank's report. Tag it as HAWKISH if it alludes to a tightening of the monetary policy, DOVISH if it implies an easing of the monetary policy, or NEUTRAL if the stance is impartial. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: However, we have also found that excluding volatile food and energy prices generally gives a better sense of underlying inflation pressures that are likely to persist and dominate total inflation over time. Answer:

neutral

However, we have also found that excluding volatile food and energy prices generally gives a better sense of underlying inflation pressures that are likely to persist and dominate total inflation over time.

fomc5

Analyse the following sentence from a central bank's report. Tag it as HAWKISH if it alludes to a tightening of the monetary policy, DOVISH if it implies an easing of the monetary policy, or NEUTRAL if the stance is impartial. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: In this case, there may be no problem for monetary policy. Answer:

neutral

In this case, there may be no problem for monetary policy.

fomc6

Scrutinize the sentence provided from a central bank's press release. Determine it as HAWKISH if it proposes a tightening of monetary policy, DOVISH if it discloses an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: In addition, U.S. inflation remains muted. Answer:

dovish

In addition, U.S. inflation remains muted.

fomc7

Study the sentence below from a central bank's briefing. Categorize it as HAWKISH if it promotes a tightening of monetary policy, DOVISH if it represents an easing of monetary policy, or NEUTRAL if the stance is nonpartisan. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: These geopolitical events also pose downside risks to growth. Answer:

dovish

These geopolitical events also pose downside risks to growth.

fomc8

Consider the below statement from a central bank's bulletin. Identify it as HAWKISH if it supports a tightening of monetary policy, DOVISH if it hints at an easing of monetary policy, or NEUTRAL if the stance is balanced. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Rather, members agreed that inflation was likely to moderate in coming quarters, Answer:

hawkish

Rather, members agreed that inflation was likely to moderate in coming quarters,

fomc9

Evaluate the provided sentence from a central bank's statement. Mark it as HAWKISH if it signifies a tightening of monetary policy, DOVISH if it points towards an easing of monetary policy, or NEUTRAL if the stance is equanimous. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: But it could be that if interest rates rise quickly, for example, that we would be in a situation of not giving remittances to the Treasury for a couple of years, and that would create problems, no doubt, for the Fed in terms of congressional response. Answer:

neutral

But it could be that if interest rates rise quickly, for example, that we would be in a situation of not giving remittances to the Treasury for a couple of years, and that would create problems, no doubt, for the Fed in terms of congressional response.

fomc10

Analyse the following sentence from a central bank's report. Tag it as HAWKISH if it alludes to a tightening of the monetary policy, DOVISH if it implies an easing of the monetary policy, or NEUTRAL if the stance is impartial. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: I look forward, as always, to my conversation with Tim, but first, please allow me to offer a few remarks on the economic outlook, Federal Reserve monetary policy, and our new monetary policy framework. Answer:

neutral

I look forward, as always, to my conversation with Tim, but first, please allow me to offer a few remarks on the economic outlook, Federal Reserve monetary policy, and our new monetary policy framework.

fomc11

Consider the below statement from a central bank's bulletin. Identify it as HAWKISH if it supports a tightening of monetary policy, DOVISH if it hints at an easing of monetary policy, or NEUTRAL if the stance is balanced. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: In the productivity boom that followed World War I, a chief technological innovation was the spread of electrification to the factory floor. Answer:

neutral

In the productivity boom that followed World War I, a chief technological innovation was the spread of electrification to the factory floor.

fomc12

Review the sentence from a central bank's communiqué. Designate it as HAWKISH if it expresses a tightening of monetary policy, DOVISH if it reveals an easing of monetary policy, or NEUTRAL if the stance is detached. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Major stock price indexes were up a bit over the intermeeting period, as positive first-quarter earnings reports more than offset the negative effects of higher energy prices and rising interest rates. Answer:

hawkish

Major stock price indexes were up a bit over the intermeeting period, as positive first-quarter earnings reports more than offset the negative effects of higher energy prices and rising interest rates.

fomc13

Study the sentence below from a central bank's briefing. Categorize it as HAWKISH if it promotes a tightening of monetary policy, DOVISH if it represents an easing of monetary policy, or NEUTRAL if the stance is nonpartisan. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: The early days of stabilization policy in the 1950s taught monetary policymakers not to attempt to offset what are likely to be temporary fluctuations in inflation.15 Indeed, responding may do more harm than good, particularly in an era where policy rates are much closer to the effective lower bound even in good times. Answer:

dovish

The early days of stabilization policy in the 1950s taught monetary policymakers not to attempt to offset what are likely to be temporary fluctuations in inflation.15 Indeed, responding may do more harm than good, particularly in an era where policy rates are much closer to the effective lower bound even in good times.

fomc14

Scrutinize the sentence provided from a central bank's press release. Determine it as HAWKISH if it proposes a tightening of monetary policy, DOVISH if it discloses an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: While the current episode has not yet concluded, it appears that, responding vigorously in a relatively flexible economy to the aftermath of bubbles, as traumatic as that may be, is less inhibiting to long-term growth than chronic high-inflation monetary policy. Answer:

hawkish

While the current episode has not yet concluded, it appears that, responding vigorously in a relatively flexible economy to the aftermath of bubbles, as traumatic as that may be, is less inhibiting to long-term growth than chronic high-inflation monetary policy.

fomc15

Consider the below statement from a central bank's bulletin. Identify it as HAWKISH if it supports a tightening of monetary policy, DOVISH if it hints at an easing of monetary policy, or NEUTRAL if the stance is balanced. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: But I want to emphasize that we do have a commitment to raising inflation to 2 percent. Answer:

dovish

But I want to emphasize that we do have a commitment to raising inflation to 2 percent.

fomc16

Evaluate the provided sentence from a central bank's statement. Mark it as HAWKISH if it signifies a tightening of monetary policy, DOVISH if it points towards an easing of monetary policy, or NEUTRAL if the stance is equanimous. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with the Committee's assessments of maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time. Answer:

neutral

The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with the Committee's assessments of maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time.

fomc17

Evaluate the provided sentence from a central bank's statement. Mark it as HAWKISH if it signifies a tightening of monetary policy, DOVISH if it points towards an easing of monetary policy, or NEUTRAL if the stance is equanimous. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Spreads on risky private-sector debt reached very low levels, and damaging spillovers to the nonfinancial sector occurred in the form of unduly high real estate prices and excessive leverage by borrowers in the housing market. Answer:

hawkish

Spreads on risky private-sector debt reached very low levels, and damaging spillovers to the nonfinancial sector occurred in the form of unduly high real estate prices and excessive leverage by borrowers in the housing market.

fomc18

Study the sentence below from a central bank's briefing. Categorize it as HAWKISH if it promotes a tightening of monetary policy, DOVISH if it represents an easing of monetary policy, or NEUTRAL if the stance is nonpartisan. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: As a consequence, a sustainable, non-inflationary expansion is likely to involve some moderation in the growth of economic activity to a rate more consistent with the expansion of the nation’s underlying productive capacity. Answer:

hawkish

As a consequence, a sustainable, non-inflationary expansion is likely to involve some moderation in the growth of economic activity to a rate more consistent with the expansion of the nation’s underlying productive capacity.

fomc19

Review the sentence from a central bank's communiqué. Designate it as HAWKISH if it expresses a tightening of monetary policy, DOVISH if it reveals an easing of monetary policy, or NEUTRAL if the stance is detached. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Significant cost cutting by firms was thought to have led to a sizable increase in productivity growth in the first half of the year Answer:

dovish

Significant cost cutting by firms was thought to have led to a sizable increase in productivity growth in the first half of the year

fomc20

Evaluate the provided sentence from a central bank's statement. Mark it as HAWKISH if it signifies a tightening of monetary policy, DOVISH if it points towards an easing of monetary policy, or NEUTRAL if the stance is equanimous. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: They noted that the economy had entered the new year with considerable momentum and very few indications that growth was moderating from what appeared to be an unsustainable rate. Answer:

hawkish

They noted that the economy had entered the new year with considerable momentum and very few indications that growth was moderating from what appeared to be an unsustainable rate.

fomc21

Study the sentence below from a central bank's briefing. Categorize it as HAWKISH if it promotes a tightening of monetary policy, DOVISH if it represents an easing of monetary policy, or NEUTRAL if the stance is nonpartisan. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Some participants judged the risks to the outlook for inflation as tilted to the downside, particularly in the near term, in light of the large amount of resource slack already prevailing in the economy, the significant downside risks to the outlook for real activity, and the possibility that inflation expectations could begin to decline in response to low actual inflation. Answer:

dovish

Some participants judged the risks to the outlook for inflation as tilted to the downside, particularly in the near term, in light of the large amount of resource slack already prevailing in the economy, the significant downside risks to the outlook for real activity, and the possibility that inflation expectations could begin to decline in response to low actual inflation.

fomc22

Scrutinize the sentence provided from a central bank's press release. Determine it as HAWKISH if it proposes a tightening of monetary policy, DOVISH if it discloses an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: When governments resort to printing money to finance their spending, inflation rises and nominal assets lose their value. Answer:

neutral

When governments resort to printing money to finance their spending, inflation rises and nominal assets lose their value.

fomc23

Assess the following statement from a central bank's circular. Indicate it as HAWKISH if it conveys a tightening of monetary policy, DOVISH if it insinuates an easing of monetary policy, or NEUTRAL if the stance is dispassionate. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Of the 1,700 Washington employees, roughly 250 are Ph.D. economists, the majority of whom support the Board's monetary policy responsibilities. Answer:

neutral

Of the 1,700 Washington employees, roughly 250 are Ph.D. economists, the majority of whom support the Board's monetary policy responsibilities.

fomc24

Examine the excerpt from a central bank's release below. Classify it as HAWKISH if it advocates for a tightening of monetary policy, DOVISH if it suggests an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Regarding the ELB, the previous statement was silent on the global decline in neutral policy rates, the likelihood that the ELB will constrain monetary policy space in economic downturns, and the implications of this constraint for our ability to achieve our dual-mandate goals. Answer:

dovish

Regarding the ELB, the previous statement was silent on the global decline in neutral policy rates, the likelihood that the ELB will constrain monetary policy space in economic downturns, and the implications of this constraint for our ability to achieve our dual-mandate goals.

fomc25

Consider the below statement from a central bank's bulletin. Identify it as HAWKISH if it supports a tightening of monetary policy, DOVISH if it hints at an easing of monetary policy, or NEUTRAL if the stance is balanced. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: To date, the spillover from the surge in oil prices has been modest. Answer:

hawkish

To date, the spillover from the surge in oil prices has been modest.

fomc26

Reflect on the given sentence from a central bank's announcement. Assign it as HAWKISH if it endorses a tightening of the monetary policy, DOVISH if it indicates an easing of the monetary policy, or NEUTRAL if the stance is even-handed. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: The “extended period” language is conditioned on exactly those same points: “Extended period” is conditioned on resource slack, on subdued inflation, and on stable inflation expectations. Answer:

dovish

The “extended period” language is conditioned on exactly those same points: “Extended period” is conditioned on resource slack, on subdued inflation, and on stable inflation expectations.

fomc27

Review the sentence from a central bank's communiqué. Designate it as HAWKISH if it expresses a tightening of monetary policy, DOVISH if it reveals an easing of monetary policy, or NEUTRAL if the stance is detached. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Although inflation remained remarkably subdued and any increase in inflationary pressures likely would tend to emerge only slowly, the strength in demand had developed against the backdrop of financial conditions that, broadly considered, were not substantially different from those now prevailing. Answer:

dovish

Although inflation remained remarkably subdued and any increase in inflationary pressures likely would tend to emerge only slowly, the strength in demand had developed against the backdrop of financial conditions that, broadly considered, were not substantially different from those now prevailing.

fomc28

Dissect the given sentence from a central bank's transcript. Tag it as HAWKISH if it denotes a tightening of monetary policy, DOVISH if it implies an easing of monetary policy, or NEUTRAL if the stance is impartial. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: A few participants judged that the expectations regarding the path of the federal funds rate implied by prices in financial markets were currently suggesting greater provision of accommodation at coming meetings than they saw as appropriate and that it might become necessary for the Committee to seek a better alignment of market expectations regarding the policy rate path with policymakers' own expectations for that path. Answer:

dovish

A few participants judged that the expectations regarding the path of the federal funds rate implied by prices in financial markets were currently suggesting greater provision of accommodation at coming meetings than they saw as appropriate and that it might become necessary for the Committee to seek a better alignment of market expectations regarding the policy rate path with policymakers' own expectations for that path.

fomc29

Scrutinize the sentence provided from a central bank's press release. Determine it as HAWKISH if it proposes a tightening of monetary policy, DOVISH if it discloses an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: another indicated that the Committee could provide guidance stating that it would not raise its target for the federal funds rate if the inflation rate was expected to run below a given level at a specific horizon. Answer:

dovish

another indicated that the Committee could provide guidance stating that it would not raise its target for the federal funds rate if the inflation rate was expected to run below a given level at a specific horizon.

fomc30

Scrutinize the sentence provided from a central bank's press release. Determine it as HAWKISH if it proposes a tightening of monetary policy, DOVISH if it discloses an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: The prospect of additional fiscal stimulus likely contributed to a steeper U. S. Treasury yield curve, increased inflation compensation, and broad dollar depreciation. Answer:

hawkish

The prospect of additional fiscal stimulus likely contributed to a steeper U. S. Treasury yield curve, increased inflation compensation, and broad dollar depreciation.

fomc31

Dissect the given sentence from a central bank's transcript. Tag it as HAWKISH if it denotes a tightening of monetary policy, DOVISH if it implies an easing of monetary policy, or NEUTRAL if the stance is impartial. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: At the same time, the staff viewed the risks around its outlook for the unemployment rate as roughly balanced. Answer:

neutral

At the same time, the staff viewed the risks around its outlook for the unemployment rate as roughly balanced.

fomc32

Study the sentence below from a central bank's briefing. Categorize it as HAWKISH if it promotes a tightening of monetary policy, DOVISH if it represents an easing of monetary policy, or NEUTRAL if the stance is nonpartisan. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: We found that a surprise increase of 25 basis points in the funds rate target typically results in a decline in broad equity indexes of about 1 percent, whereas a change in the funds rate that is expected by the market has essentially no effect on stock prices.17 Our work is just one example of a number of event-study analyses that may well shed light on the effects of monetary policy and the channels of monetary policy transmission. Answer:

neutral

We found that a surprise increase of 25 basis points in the funds rate target typically results in a decline in broad equity indexes of about 1 percent, whereas a change in the funds rate that is expected by the market has essentially no effect on stock prices.17 Our work is just one example of a number of event-study analyses that may well shed light on the effects of monetary policy and the channels of monetary policy transmission.

fomc33

Consider the below statement from a central bank's bulletin. Identify it as HAWKISH if it supports a tightening of monetary policy, DOVISH if it hints at an easing of monetary policy, or NEUTRAL if the stance is balanced. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Operationally, maintaining price stability requires abiding by the Taylor principle of raising nominal interest rates more than one for one in response to movements in inflation, especially those movements perceived as persistent. Answer:

neutral

Operationally, maintaining price stability requires abiding by the Taylor principle of raising nominal interest rates more than one for one in response to movements in inflation, especially those movements perceived as persistent.

fomc34

Dissect the given sentence from a central bank's transcript. Tag it as HAWKISH if it denotes a tightening of monetary policy, DOVISH if it implies an easing of monetary policy, or NEUTRAL if the stance is impartial. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: The growth of subprime mortgage lending is one indication of the extent to which access to credit has increased for all households, including those with lower incomes. Answer:

neutral

The growth of subprime mortgage lending is one indication of the extent to which access to credit has increased for all households, including those with lower incomes.

fomc35

Review the sentence from a central bank's communiqué. Designate it as HAWKISH if it expresses a tightening of monetary policy, DOVISH if it reveals an easing of monetary policy, or NEUTRAL if the stance is detached. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: And what is the risk that, in taking such steps, a central bank would be seen by investors as taking on partial responsibility for asset prices? Answer:

neutral

And what is the risk that, in taking such steps, a central bank would be seen by investors as taking on partial responsibility for asset prices?

fomc36

Assess the following statement from a central bank's circular. Indicate it as HAWKISH if it conveys a tightening of monetary policy, DOVISH if it insinuates an easing of monetary policy, or NEUTRAL if the stance is dispassionate. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: As of this month, the maximum monthly reduction in the balance sheet will be nearly double the level of the previous cycle.10 Together, the increase in the policy rate and the reduction in the balance sheet should help bring demand into alignment with supply. Answer:

hawkish

As of this month, the maximum monthly reduction in the balance sheet will be nearly double the level of the previous cycle.10 Together, the increase in the policy rate and the reduction in the balance sheet should help bring demand into alignment with supply.

fomc37

Study the sentence below from a central bank's briefing. Categorize it as HAWKISH if it promotes a tightening of monetary policy, DOVISH if it represents an easing of monetary policy, or NEUTRAL if the stance is nonpartisan. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Moreover, in light of the anticipated modest pace of economic recovery, the Committee expects that over coming quarters the unemployment rate will decline only gradually toward its mandate-consistent levels. Answer:

dovish

Moreover, in light of the anticipated modest pace of economic recovery, the Committee expects that over coming quarters the unemployment rate will decline only gradually toward its mandate-consistent levels.

fomc38

Examine the excerpt from a central bank's release below. Classify it as HAWKISH if it advocates for a tightening of monetary policy, DOVISH if it suggests an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: It was a question of not getting inflation up to our target on a robust, symmetric kind of a way. Answer:

dovish

It was a question of not getting inflation up to our target on a robust, symmetric kind of a way.

fomc39

Study the sentence below from a central bank's briefing. Categorize it as HAWKISH if it promotes a tightening of monetary policy, DOVISH if it represents an easing of monetary policy, or NEUTRAL if the stance is nonpartisan. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Returning to monetary policy, we recognize that there has been a great deal of focus on today’s policy decision. Answer:

neutral

Returning to monetary policy, we recognize that there has been a great deal of focus on today’s policy decision.

fomc40

Analyse the following sentence from a central bank's report. Tag it as HAWKISH if it alludes to a tightening of the monetary policy, DOVISH if it implies an easing of the monetary policy, or NEUTRAL if the stance is impartial. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: It is an honor to be here with Ben Bernanke and Janet Yellen, who pioneered the original Statement on Longer-Run Goals and Monetary Policy Strategy in 2012. Answer:

neutral

It is an honor to be here with Ben Bernanke and Janet Yellen, who pioneered the original Statement on Longer-Run Goals and Monetary Policy Strategy in 2012.

fomc41

Study the sentence below from a central bank's briefing. Categorize it as HAWKISH if it promotes a tightening of monetary policy, DOVISH if it represents an easing of monetary policy, or NEUTRAL if the stance is nonpartisan. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Although we cannot ascertain the precise rates of resource utilization that the economy can sustain, we can have little doubt that, after three years of above-trend growth, slack has been substantially reduced. Answer:

hawkish

Although we cannot ascertain the precise rates of resource utilization that the economy can sustain, we can have little doubt that, after three years of above-trend growth, slack has been substantially reduced.

fomc42

Dissect the given sentence from a central bank's transcript. Tag it as HAWKISH if it denotes a tightening of monetary policy, DOVISH if it implies an easing of monetary policy, or NEUTRAL if the stance is impartial. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Participants agreed that the longer-run normal federal funds rate was likely lower than in the past, in part because of secular forces that had put downward pressure on real interest rates. Answer:

dovish

Participants agreed that the longer-run normal federal funds rate was likely lower than in the past, in part because of secular forces that had put downward pressure on real interest rates.

fomc43

Reflect on the given sentence from a central bank's announcement. Assign it as HAWKISH if it endorses a tightening of the monetary policy, DOVISH if it indicates an easing of the monetary policy, or NEUTRAL if the stance is even-handed. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: To reduce that uncertainty, we often use the unemployment gap rather than the output gap in these rules.19 We also need to pick values for the coefficients a and b, whether they are the values John Taylor posited in his seminal 1993 article or other values from the vast literature that has come since.20 There are still other choices to make. Answer:

neutral

To reduce that uncertainty, we often use the unemployment gap rather than the output gap in these rules.19 We also need to pick values for the coefficients a and b, whether they are the values John Taylor posited in his seminal 1993 article or other values from the vast literature that has come since.20 There are still other choices to make.

fomc44

Evaluate the provided sentence from a central bank's statement. Mark it as HAWKISH if it signifies a tightening of monetary policy, DOVISH if it points towards an easing of monetary policy, or NEUTRAL if the stance is equanimous. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: The Chairman testifies frequently before the Congress, with the one-year record being twenty-five appearances in 1995, although only seven were directly about monetary policy. Answer:

neutral

The Chairman testifies frequently before the Congress, with the one-year record being twenty-five appearances in 1995, although only seven were directly about monetary policy.

fomc45

Assess the following statement from a central bank's circular. Indicate it as HAWKISH if it conveys a tightening of monetary policy, DOVISH if it insinuates an easing of monetary policy, or NEUTRAL if the stance is dispassionate. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Given the substantial uncertainty still attached to projections of money growth consistent with the Committee's basic objectives for monetary policy, the members agreed that there was no firm basis for changing the tentative ranges set in July 1996. Answer:

neutral

Given the substantial uncertainty still attached to projections of money growth consistent with the Committee's basic objectives for monetary policy, the members agreed that there was no firm basis for changing the tentative ranges set in July 1996.

fomc46

Reflect on the given sentence from a central bank's announcement. Assign it as HAWKISH if it endorses a tightening of the monetary policy, DOVISH if it indicates an easing of the monetary policy, or NEUTRAL if the stance is even-handed. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: An understanding of a likely long-run level of the equilibrium real rate is useful, even though the level is not directly observable, because it provides a general sense of the level that would, over that longer period, allow aggregate supply and demand to move into balance, given the evaluation of secular forces such as productivity and population growth. Answer:

neutral

An understanding of a likely long-run level of the equilibrium real rate is useful, even though the level is not directly observable, because it provides a general sense of the level that would, over that longer period, allow aggregate supply and demand to move into balance, given the evaluation of secular forces such as productivity and population growth.

fomc47

Scrutinize the sentence provided from a central bank's press release. Determine it as HAWKISH if it proposes a tightening of monetary policy, DOVISH if it discloses an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Today a rise in oil prices has mixed effects on the economy, lowering real household incomes and thus demand, but raising investment in drilling over time and benefiting oil-producing areas more generally. Answer:

hawkish

Today a rise in oil prices has mixed effects on the economy, lowering real household incomes and thus demand, but raising investment in drilling over time and benefiting oil-producing areas more generally.

fomc48

Review the sentence from a central bank's communiqué. Designate it as HAWKISH if it expresses a tightening of monetary policy, DOVISH if it reveals an easing of monetary policy, or NEUTRAL if the stance is detached. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: So the term “trend inflation”—usually there are a variety of statistical techniques that can be used to extract a trend from a series. Answer:

neutral

So the term “trend inflation”—usually there are a variety of statistical techniques that can be used to extract a trend from a series.

fomc49

Review the sentence from a central bank's communiqué. Designate it as HAWKISH if it expresses a tightening of monetary policy, DOVISH if it reveals an easing of monetary policy, or NEUTRAL if the stance is detached. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: In the Committee’s discussion of monetary policy for the intermeeting period, nearly all members favored keeping the target federal funds rate at 5-1/4 percent at this meeting. Answer:

neutral

In the Committee’s discussion of monetary policy for the intermeeting period, nearly all members favored keeping the target federal funds rate at 5-1/4 percent at this meeting.

fomc50

Analyse the following sentence from a central bank's report. Tag it as HAWKISH if it alludes to a tightening of the monetary policy, DOVISH if it implies an easing of the monetary policy, or NEUTRAL if the stance is impartial. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: But we are also searching for an absolute concept, the point of balance between supply and demand in the respective markets that divides excess demand from excess supply--in effect, the origin in a diagram relating inflation to excess demand and supply. Answer:

neutral

But we are also searching for an absolute concept, the point of balance between supply and demand in the respective markets that divides excess demand from excess supply--in effect, the origin in a diagram relating inflation to excess demand and supply.

fomc51

Assess the following statement from a central bank's circular. Indicate it as HAWKISH if it conveys a tightening of monetary policy, DOVISH if it insinuates an easing of monetary policy, or NEUTRAL if the stance is dispassionate. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Credit conditions in the commercial real estate (CRE) sector continued to ease, and growth in CRE loans at banks stayed solid. Answer:

hawkish

Credit conditions in the commercial real estate (CRE) sector continued to ease, and growth in CRE loans at banks stayed solid.

fomc52

Assess the following statement from a central bank's circular. Indicate it as HAWKISH if it conveys a tightening of monetary policy, DOVISH if it insinuates an easing of monetary policy, or NEUTRAL if the stance is dispassionate. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: While labor markets were anticipated to remain tight in the near term, participants expected labor demand and supply to come into better balance over time, helping to ease upward pressure on wages and prices. Answer:

hawkish

While labor markets were anticipated to remain tight in the near term, participants expected labor demand and supply to come into better balance over time, helping to ease upward pressure on wages and prices.

fomc53

Examine the excerpt from a central bank's release below. Classify it as HAWKISH if it advocates for a tightening of monetary policy, DOVISH if it suggests an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Money growth was damped by a rise in the opportunity cost of holding M2 assets (as typically occurs in periods of policy tightening). Answer:

hawkish

Money growth was damped by a rise in the opportunity cost of holding M2 assets (as typically occurs in periods of policy tightening).

fomc54

Examine the excerpt from a central bank's release below. Classify it as HAWKISH if it advocates for a tightening of monetary policy, DOVISH if it suggests an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: A few participants pointed to continued strong growth in multifamily construction, although the limited pipeline of new projects in one District suggested that activity could slow in 2015. Answer:

neutral

A few participants pointed to continued strong growth in multifamily construction, although the limited pipeline of new projects in one District suggested that activity could slow in 2015.

fomc55

Consider the below statement from a central bank's bulletin. Identify it as HAWKISH if it supports a tightening of monetary policy, DOVISH if it hints at an easing of monetary policy, or NEUTRAL if the stance is balanced. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: The staff's near-term forecast for inflation was revised up a little, as recent data showed somewhat faster-than-anticipated increases that were judged to be only partly transitory. Answer:

hawkish

The staff's near-term forecast for inflation was revised up a little, as recent data showed somewhat faster-than-anticipated increases that were judged to be only partly transitory.

fomc56

Scrutinize the sentence provided from a central bank's press release. Determine it as HAWKISH if it proposes a tightening of monetary policy, DOVISH if it discloses an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: But in the shorter run, we must also develop strategies to overcome the education deficiencies of all too many of our young people, and to renew the skills of workers who have not kept up with the changing demands of the workplace. Answer:

neutral

But in the shorter run, we must also develop strategies to overcome the education deficiencies of all too many of our young people, and to renew the skills of workers who have not kept up with the changing demands of the workplace.

fomc57

Review the sentence from a central bank's communiqué. Designate it as HAWKISH if it expresses a tightening of monetary policy, DOVISH if it reveals an easing of monetary policy, or NEUTRAL if the stance is detached. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Some saw a risk that inflationary pressures might develop more rapidly than currently anticipated as resource utilization tightened, Answer:

hawkish

Some saw a risk that inflationary pressures might develop more rapidly than currently anticipated as resource utilization tightened,

fomc58

Dissect the given sentence from a central bank's transcript. Tag it as HAWKISH if it denotes a tightening of monetary policy, DOVISH if it implies an easing of monetary policy, or NEUTRAL if the stance is impartial. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: I believe the current move can be justified in a forward-looking variant of the Taylor Rule, where today's policy depends on the forecast of future output gaps and inflation. Answer:

neutral

I believe the current move can be justified in a forward-looking variant of the Taylor Rule, where today's policy depends on the forecast of future output gaps and inflation.

fomc59

Consider the below statement from a central bank's bulletin. Identify it as HAWKISH if it supports a tightening of monetary policy, DOVISH if it hints at an easing of monetary policy, or NEUTRAL if the stance is balanced. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: The shift in the stance of monetary policy that we undertook in 2019 was, I believe, well timed and has been providing support to the economy and helping to keep the U.S. outlook on track. Answer:

neutral

The shift in the stance of monetary policy that we undertook in 2019 was, I believe, well timed and has been providing support to the economy and helping to keep the U.S. outlook on track.

fomc60

Consider the below statement from a central bank's bulletin. Identify it as HAWKISH if it supports a tightening of monetary policy, DOVISH if it hints at an easing of monetary policy, or NEUTRAL if the stance is balanced. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Some contacts indicated that while input costs were higher, it appeared that the pass-through of these higher costs to consumer prices was limited. Answer:

neutral

Some contacts indicated that while input costs were higher, it appeared that the pass-through of these higher costs to consumer prices was limited.

fomc61

Dissect the given sentence from a central bank's transcript. Tag it as HAWKISH if it denotes a tightening of monetary policy, DOVISH if it implies an easing of monetary policy, or NEUTRAL if the stance is impartial. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: However, household spending had been relatively robust during the cyclical downturn and likely had only limited room for a pickup over coming quarters, and intense competitive pressures could well constrain profits, investment, and equity prices. Answer:

neutral

However, household spending had been relatively robust during the cyclical downturn and likely had only limited room for a pickup over coming quarters, and intense competitive pressures could well constrain profits, investment, and equity prices.

fomc62

Assess the following statement from a central bank's circular. Indicate it as HAWKISH if it conveys a tightening of monetary policy, DOVISH if it insinuates an easing of monetary policy, or NEUTRAL if the stance is dispassionate. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Consumer food prices were little changed in August. Answer:

neutral

Consumer food prices were little changed in August.

fomc63

Review the sentence from a central bank's communiqué. Designate it as HAWKISH if it expresses a tightening of monetary policy, DOVISH if it reveals an easing of monetary policy, or NEUTRAL if the stance is detached. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: largely as a consequence of further increases in nominal labor compensation gains that would not be fully offset by growth in productivity. Answer:

dovish

largely as a consequence of further increases in nominal labor compensation gains that would not be fully offset by growth in productivity.

fomc64

Consider the below statement from a central bank's bulletin. Identify it as HAWKISH if it supports a tightening of monetary policy, DOVISH if it hints at an easing of monetary policy, or NEUTRAL if the stance is balanced. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: In connection with the risks associated with an early start to policy normalization, many participants observed that a premature increase in rates might damp the apparent solid recovery in real activity and labor market conditions, undermining progress toward the Committee's objectives of maximum employment and 2 percent inflation. Answer:

neutral

In connection with the risks associated with an early start to policy normalization, many participants observed that a premature increase in rates might damp the apparent solid recovery in real activity and labor market conditions, undermining progress toward the Committee's objectives of maximum employment and 2 percent inflation.

fomc65

Scrutinize the sentence provided from a central bank's press release. Determine it as HAWKISH if it proposes a tightening of monetary policy, DOVISH if it discloses an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: In contrast, in cases in which variations in the demand for reserves or in external factors affecting reserve supply appear likely to be temporary, the Desk typically prefers to conduct open-market operations through short-term or long-term repurchase agreements, known as repos. Answer:

neutral

In contrast, in cases in which variations in the demand for reserves or in external factors affecting reserve supply appear likely to be temporary, the Desk typically prefers to conduct open-market operations through short-term or long-term repurchase agreements, known as repos.

fomc66

Dissect the given sentence from a central bank's transcript. Tag it as HAWKISH if it denotes a tightening of monetary policy, DOVISH if it implies an easing of monetary policy, or NEUTRAL if the stance is impartial. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: How the forces of demand, potential supply, and expectations interact has probably not been changed in any fundamental way by the recent trend of globalization. Answer:

neutral

How the forces of demand, potential supply, and expectations interact has probably not been changed in any fundamental way by the recent trend of globalization.

fomc67

Evaluate the provided sentence from a central bank's statement. Mark it as HAWKISH if it signifies a tightening of monetary policy, DOVISH if it points towards an easing of monetary policy, or NEUTRAL if the stance is equanimous. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Several commented that an asymmetric directive did not imply a commitment to tighten monetary policy at some point, whether during the intermeeting period or at a future meeting, but it did imply the need for special vigilance. Answer:

hawkish

Several commented that an asymmetric directive did not imply a commitment to tighten monetary policy at some point, whether during the intermeeting period or at a future meeting, but it did imply the need for special vigilance.

fomc68

Scrutinize the sentence provided from a central bank's press release. Determine it as HAWKISH if it proposes a tightening of monetary policy, DOVISH if it discloses an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Conversely, fiscal policy expansion in the surplus countries could be used to augment domestic demand, but any such adjustments would need to take account of medium-term goals for fiscal consolidation. Answer:

dovish

Conversely, fiscal policy expansion in the surplus countries could be used to augment domestic demand, but any such adjustments would need to take account of medium-term goals for fiscal consolidation.

fomc69

Evaluate the provided sentence from a central bank's statement. Mark it as HAWKISH if it signifies a tightening of monetary policy, DOVISH if it points towards an easing of monetary policy, or NEUTRAL if the stance is equanimous. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Future policy adjustments would depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information. Answer:

neutral

Future policy adjustments would depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information.

fomc70

Examine the excerpt from a central bank's release below. Classify it as HAWKISH if it advocates for a tightening of monetary policy, DOVISH if it suggests an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: During expansions, equity prices tend to rise, although they often decline before a downturn in the economy. Answer:

neutral

During expansions, equity prices tend to rise, although they often decline before a downturn in the economy.

fomc71

Evaluate the provided sentence from a central bank's statement. Mark it as HAWKISH if it signifies a tightening of monetary policy, DOVISH if it points towards an easing of monetary policy, or NEUTRAL if the stance is equanimous. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Wage inflation has been running at 2 percent. Answer:

neutral

Wage inflation has been running at 2 percent.

fomc72

Evaluate the provided sentence from a central bank's statement. Mark it as HAWKISH if it signifies a tightening of monetary policy, DOVISH if it points towards an easing of monetary policy, or NEUTRAL if the stance is equanimous. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: The Federal Reserve Bank of New York was authorized and directed, until instructed otherwise by the Committee, to execute transactions in the System Account in accordance with the following domestic policy directive: The information reviewed at this meeting suggests that the expansion in economic activity has slowed considerably after a very rapid advance in the first quarter. Answer:

dovish

The Federal Reserve Bank of New York was authorized and directed, until instructed otherwise by the Committee, to execute transactions in the System Account in accordance with the following domestic policy directive: The information reviewed at this meeting suggests that the expansion in economic activity has slowed considerably after a very rapid advance in the first quarter.

fomc73

Consider the below statement from a central bank's bulletin. Identify it as HAWKISH if it supports a tightening of monetary policy, DOVISH if it hints at an easing of monetary policy, or NEUTRAL if the stance is balanced. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: The role of the Board vis-à-vis the regional Banks was elevated in the aftermath of the stock market crash of 1929 and in the early years of the Great Depression, but the combination of centralized and regional responsibilities remains an important strength of the Federal Reserve System, as I'll explain shortly when I discuss the formulation of monetary policy. Answer:

neutral

The role of the Board vis-à-vis the regional Banks was elevated in the aftermath of the stock market crash of 1929 and in the early years of the Great Depression, but the combination of centralized and regional responsibilities remains an important strength of the Federal Reserve System, as I'll explain shortly when I discuss the formulation of monetary policy.

fomc74

Review the sentence from a central bank's communiqué. Designate it as HAWKISH if it expresses a tightening of monetary policy, DOVISH if it reveals an easing of monetary policy, or NEUTRAL if the stance is detached. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Although the unemployment rate is around a 50-year low, wages are rising broadly in line with productivity growth and underlying inflation. Answer:

hawkish

Although the unemployment rate is around a 50-year low, wages are rising broadly in line with productivity growth and underlying inflation.

fomc75

Examine the excerpt from a central bank's release below. Classify it as HAWKISH if it advocates for a tightening of monetary policy, DOVISH if it suggests an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Given recent developments, the medium-term outlook for inflation will receive particular scrutiny. Answer:

neutral

Given recent developments, the medium-term outlook for inflation will receive particular scrutiny.

fomc76

Scrutinize the sentence provided from a central bank's press release. Determine it as HAWKISH if it proposes a tightening of monetary policy, DOVISH if it discloses an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Members agreed that the statement should continue to convey that inflation risks remained of greatest concern and that additional policy firming was possible. Answer:

hawkish

Members agreed that the statement should continue to convey that inflation risks remained of greatest concern and that additional policy firming was possible.

fomc77

Assess the following statement from a central bank's circular. Indicate it as HAWKISH if it conveys a tightening of monetary policy, DOVISH if it insinuates an easing of monetary policy, or NEUTRAL if the stance is dispassionate. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Several participants commented that the factors that had contributed to low inflation during the previous expansion could again exert more downward pressure on inflation than expected. Answer:

dovish

Several participants commented that the factors that had contributed to low inflation during the previous expansion could again exert more downward pressure on inflation than expected.

fomc78

Examine the excerpt from a central bank's release below. Classify it as HAWKISH if it advocates for a tightening of monetary policy, DOVISH if it suggests an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: The nominal deficit on U. S. trade in goods and services widened substantially in the second quarter. Answer:

hawkish

The nominal deficit on U. S. trade in goods and services widened substantially in the second quarter.

fomc79

Review the sentence from a central bank's communiqué. Designate it as HAWKISH if it expresses a tightening of monetary policy, DOVISH if it reveals an easing of monetary policy, or NEUTRAL if the stance is detached. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: With the risks to the forecast for economic activity tilted to the downside, the risks to the inflation projection were also viewed as having a downward skew. Answer:

dovish

With the risks to the forecast for economic activity tilted to the downside, the risks to the inflation projection were also viewed as having a downward skew.

fomc80

Analyse the following sentence from a central bank's report. Tag it as HAWKISH if it alludes to a tightening of the monetary policy, DOVISH if it implies an easing of the monetary policy, or NEUTRAL if the stance is impartial. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Moreover, investing in EMEs has become more attractive as many EMEs have improved their macroeconomic policies and institutional frameworks over recent decades; growth differentials may partly be reflecting these improvements. Answer:

neutral

Moreover, investing in EMEs has become more attractive as many EMEs have improved their macroeconomic policies and institutional frameworks over recent decades; growth differentials may partly be reflecting these improvements.

fomc81

Assess the following statement from a central bank's circular. Indicate it as HAWKISH if it conveys a tightening of monetary policy, DOVISH if it insinuates an easing of monetary policy, or NEUTRAL if the stance is dispassionate. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Participants noted that the timing of the resumption of growth in the U. S. economy depended on the containment measures put in place, as well as the success of those measures, and on the responses of other policies, including fiscal policy. Answer:

neutral

Participants noted that the timing of the resumption of growth in the U. S. economy depended on the containment measures put in place, as well as the success of those measures, and on the responses of other policies, including fiscal policy.

fomc82

Dissect the given sentence from a central bank's transcript. Tag it as HAWKISH if it denotes a tightening of monetary policy, DOVISH if it implies an easing of monetary policy, or NEUTRAL if the stance is impartial. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: One prominent example is the work in behavioral finance on how alternative assumptions regarding rationality can affect predictions for asset prices and saving behavior Answer:

neutral

One prominent example is the work in behavioral finance on how alternative assumptions regarding rationality can affect predictions for asset prices and saving behavior

fomc83

Dissect the given sentence from a central bank's transcript. Tag it as HAWKISH if it denotes a tightening of monetary policy, DOVISH if it implies an easing of monetary policy, or NEUTRAL if the stance is impartial. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Accordingly, considerable caution needed to be exercised in assessing the outlook for productivity and in relying on projections of the economy and prices, which necessarily embodied judgments about this outlook, in making monetary policy. Answer:

neutral

Accordingly, considerable caution needed to be exercised in assessing the outlook for productivity and in relying on projections of the economy and prices, which necessarily embodied judgments about this outlook, in making monetary policy.

fomc84

Assess the following statement from a central bank's circular. Indicate it as HAWKISH if it conveys a tightening of monetary policy, DOVISH if it insinuates an easing of monetary policy, or NEUTRAL if the stance is dispassionate. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: several others thought that progress in achieving the Committee's inflation objective might lag if further appreciation of the dollar continued to depress non-energy commodity prices or if inflation was slow to respond to tighter resource utilization. Answer:

neutral

several others thought that progress in achieving the Committee's inflation objective might lag if further appreciation of the dollar continued to depress non-energy commodity prices or if inflation was slow to respond to tighter resource utilization.

fomc85

Assess the following statement from a central bank's circular. Indicate it as HAWKISH if it conveys a tightening of monetary policy, DOVISH if it insinuates an easing of monetary policy, or NEUTRAL if the stance is dispassionate. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Fourth and finally, the statement codifies the key lesson from the Global Financial Crisis—that financial stability is necessary for the achievement of our statutory goals of maximum employment and price stability. Answer:

neutral

Fourth and finally, the statement codifies the key lesson from the Global Financial Crisis—that financial stability is necessary for the achievement of our statutory goals of maximum employment and price stability.

fomc86

Review the sentence from a central bank's communiqué. Designate it as HAWKISH if it expresses a tightening of monetary policy, DOVISH if it reveals an easing of monetary policy, or NEUTRAL if the stance is detached. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Millions of new jobs have been created in the last few years; and unemployment, now at 4.3 percent, has been at or below 5 percent for over two years. Answer:

hawkish

Millions of new jobs have been created in the last few years; and unemployment, now at 4.3 percent, has been at or below 5 percent for over two years.

fomc87

Consider the below statement from a central bank's bulletin. Identify it as HAWKISH if it supports a tightening of monetary policy, DOVISH if it hints at an easing of monetary policy, or NEUTRAL if the stance is balanced. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: At the same time, the incentive to take advantage of increasingly efficient high-tech equipment and software typically available at declining prices would continue to provide an important underpinning for further large gains in investment spending, with favorable implications for continued rapid growth in productivity. Answer:

neutral

At the same time, the incentive to take advantage of increasingly efficient high-tech equipment and software typically available at declining prices would continue to provide an important underpinning for further large gains in investment spending, with favorable implications for continued rapid growth in productivity.

fomc88

Analyse the following sentence from a central bank's report. Tag it as HAWKISH if it alludes to a tightening of the monetary policy, DOVISH if it implies an easing of the monetary policy, or NEUTRAL if the stance is impartial. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Members referred, however, to a number of favorable factors that should continue to support at least moderate further growth in business investment, including the attractive pricing of and ongoing rapid technological improvements in computer and communications equipment and the wide availability of equity and debt financing on favorable terms to business firms. Answer:

neutral

Members referred, however, to a number of favorable factors that should continue to support at least moderate further growth in business investment, including the attractive pricing of and ongoing rapid technological improvements in computer and communications equipment and the wide availability of equity and debt financing on favorable terms to business firms.

fomc89

Reflect on the given sentence from a central bank's announcement. Assign it as HAWKISH if it endorses a tightening of the monetary policy, DOVISH if it indicates an easing of the monetary policy, or NEUTRAL if the stance is even-handed. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Clearly, businesses regarded such investments as highly profitable, and they appeared to be leading to gains in productivity that in turn were helping to offset rising compensation and to maintain profit margins in highly competitive markets. Answer:

neutral

Clearly, businesses regarded such investments as highly profitable, and they appeared to be leading to gains in productivity that in turn were helping to offset rising compensation and to maintain profit margins in highly competitive markets.

fomc90

Review the sentence from a central bank's communiqué. Designate it as HAWKISH if it expresses a tightening of monetary policy, DOVISH if it reveals an easing of monetary policy, or NEUTRAL if the stance is detached. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: increases in expected inflation will thus tend to promote greater actual inflation. Answer:

neutral

increases in expected inflation will thus tend to promote greater actual inflation.

fomc91

Analyse the following sentence from a central bank's report. Tag it as HAWKISH if it alludes to a tightening of the monetary policy, DOVISH if it implies an easing of the monetary policy, or NEUTRAL if the stance is impartial. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: For example, the evidence suggests that changes in the demographic composition of the labor force affect NAIRU and it is also likely that government programs, including unemployment compensation and welfare, also affect NAIRU. Answer:

neutral

For example, the evidence suggests that changes in the demographic composition of the labor force affect NAIRU and it is also likely that government programs, including unemployment compensation and welfare, also affect NAIRU.

fomc92

Evaluate the provided sentence from a central bank's statement. Mark it as HAWKISH if it signifies a tightening of monetary policy, DOVISH if it points towards an easing of monetary policy, or NEUTRAL if the stance is equanimous. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: The Committee also reiterated that it would continue its asset purchases, and employ its other policy tools as appropriate, until the outlook for the labor market has improved substantially in a context of price stability. Answer:

dovish

The Committee also reiterated that it would continue its asset purchases, and employ its other policy tools as appropriate, until the outlook for the labor market has improved substantially in a context of price stability.

fomc93

Consider the below statement from a central bank's bulletin. Identify it as HAWKISH if it supports a tightening of monetary policy, DOVISH if it hints at an easing of monetary policy, or NEUTRAL if the stance is balanced. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: And no, we’re not—we, we have not at all changed our view, and I haven’t changed my view that inflation running above 2 percent, moderately above 2 percent, is a desirable thing. Answer:

dovish

And no, we’re not—we, we have not at all changed our view, and I haven’t changed my view that inflation running above 2 percent, moderately above 2 percent, is a desirable thing.

fomc94

Examine the excerpt from a central bank's release below. Classify it as HAWKISH if it advocates for a tightening of monetary policy, DOVISH if it suggests an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: The staff continued to view the uncertainty around its projections for real GDP growth, the unemployment rate, and inflation as generally similar to the average of the past 20 years. Answer:

neutral

The staff continued to view the uncertainty around its projections for real GDP growth, the unemployment rate, and inflation as generally similar to the average of the past 20 years.

fomc95

Review the sentence from a central bank's communiqué. Designate it as HAWKISH if it expresses a tightening of monetary policy, DOVISH if it reveals an easing of monetary policy, or NEUTRAL if the stance is detached. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: As a result, the likely pace and extent of policy easing expected by investors increased, and yields on nominal and inflation-indexed Treasury coupon securities fell. Answer:

dovish

As a result, the likely pace and extent of policy easing expected by investors increased, and yields on nominal and inflation-indexed Treasury coupon securities fell.

fomc96

Examine the excerpt from a central bank's release below. Classify it as HAWKISH if it advocates for a tightening of monetary policy, DOVISH if it suggests an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: For instance, monetary policymakers must accurately assess how disasters such as hurricanes, wildfires, and flooding affect labor markets, household and business spending, output, and prices.7 In deciding whether to alter monetary policy or, instead, to "look through" such shocks, policymakers need to assess the likely persistence of the effects and how widespread they are. Answer:

neutral

For instance, monetary policymakers must accurately assess how disasters such as hurricanes, wildfires, and flooding affect labor markets, household and business spending, output, and prices.7 In deciding whether to alter monetary policy or, instead, to "look through" such shocks, policymakers need to assess the likely persistence of the effects and how widespread they are.

fomc97

Consider the below statement from a central bank's bulletin. Identify it as HAWKISH if it supports a tightening of monetary policy, DOVISH if it hints at an easing of monetary policy, or NEUTRAL if the stance is balanced. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: Another participant mentioned, however, that recent sluggish growth of the monetary aggregates suggested that the stance of policy was not overly accommodative. Answer:

dovish

Another participant mentioned, however, that recent sluggish growth of the monetary aggregates suggested that the stance of policy was not overly accommodative.

fomc98

Review the sentence from a central bank's communiqué. Designate it as HAWKISH if it expresses a tightening of monetary policy, DOVISH if it reveals an easing of monetary policy, or NEUTRAL if the stance is detached. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: In the United States, evaluating the effects on the economy of shifts in balance sheets and variations in asset prices have been an integral part of the development of monetary policy. Answer:

neutral

In the United States, evaluating the effects on the economy of shifts in balance sheets and variations in asset prices have been an integral part of the development of monetary policy.

fomc99

Examine the excerpt from a central bank's release below. Classify it as HAWKISH if it advocates for a tightening of monetary policy, DOVISH if it suggests an easing of monetary policy, or NEUTRAL if the stance is unbiased. Your response should return only HAWKISH, DOVISH, or NEUTRAL. Text: As was highlighted by the Bureau of Labor Statistics, this figure likely understates the extent of unemployment; accounting for the unusually large number of workers who reported themselves as employed but absent from their jobs would raise the unemployment rate by about 3 percentage points. Answer:

dovish

As was highlighted by the Bureau of Labor Statistics, this figure likely understates the extent of unemployment; accounting for the unusually large number of workers who reported themselves as employed but absent from their jobs would raise the unemployment rate by about 3 percentage points.