English Evaluation Dataset
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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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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, | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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 | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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? | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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). | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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, | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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 | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 1 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 2 |
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. | [
"dovish",
"hawkish",
"neutral"
] | 0 |
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