December 2023 — Fed Language Drift
December 13, 2023
On December 13, 2023, the FOMC statement scored 13.2 for commitment density and 51.6 for hedging. The press conference scored 12.7 and 49.8 on the same two measures.
What the statement committed to
Commitment density measures how much of the statement binds the committee to action rather than describing conditions. This meeting reads 13.2, the first reading in this archive.
How much the statement hedged
Hedging measures the uncertainty carried in the language — the conditionals and qualifiers that signal observation over commitment. This meeting reads 51.6, the first reading in this archive.
Commitment density and hedging across the trailing meetings. Commitment rises as the language binds the committee to action; hedging rises as it signals uncertainty. This meeting is highlighted.
Proof
This result was sealed in a signed, tamper-evident receipt at the moment it was scored. The receipt below attests to the numbers on this page.
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