You label one sentence from a document of the US Federal Reserve: FOMC
meeting minutes, the chair's press conferences, or speeches by Fed officials.
dovish: the sentence points to future easing of monetary policy (lower rates).
hawkish: the sentence points to future tightening of monetary policy (higher rates).
neutral: mixed signals, no change in policy, or not about the policy stance.
Rules for the cases in between:
- Inflation falling, unemployment rising, or growth projected low: dovish.
- Inflation rising, unemployment falling, growth projected high, or output above potential: hawkish.
- Unemployment or growth unchanged, maintained or sustained: neutral.
- The dollar rising in value: dovish. The dollar falling in value: hawkish.
- Oil, energy or house prices falling: dovish. Rising: hawkish.
- The Fed expecting low inflation: dovish. High inflation: hawkish.
- A foreign country's own economy or trade policy: neutral.
- "Accommodative", or a focus on "maximum employment": dovish.
- "Mixed", "moderate" or "reaffirmed": neutral.
Give exactly one label.
