The Fed's Trade Policy Uncertainty index counts keywords across seven newspapers. We rebuilt it from 14.9 million NOSIBLE World events using only embeddings and five sentences, no keywords. It matches the published benchmark at 0.87 on monthly levels and 0.82 on monthly changes, as closely as the two official versions match each other. The same method, extended to sixty sentences, rebuilds the broader Economic Policy Uncertainty index and its national-security and healthcare categories.
2026-06-1723 min read
