Charles Ellicott Commentary Jeremiah 23:4

"And I will set up shepherds over them, who shall feed them; and they shall fear no more, nor be dismayed, neither shall any be lacking, saith Jehovah." — Jeremiah 23:4 (ASV)

I will set up shepherds ... — These words imply, in one sense, a return to the theocracy, the breaking off the hereditary succession of the house of David, and the giving of power to those who, like Ezra and Nehemiah, and later in history, the Maccabees, were called to rule because they had the capacity for ruling well. The plural is noticeable, as in Jeremiah 3:15, as not limiting the prophecy to Christ, who is still the chief Shepherd (1 Peter 5:4). In the verb for “set up” there is an allusive reference to the names of Jehoiakim and Jehoiachin, into both of which it entered. Jehovah would “raise up” shepherds, but not such as they had proved themselves to be.

Neither shall they be lacking. — That is, the flock would be so cared for that not one sheep would be lost. Care extending even to every individual member was the true ideal of the Shepherd’s work (John 10:3; John 17:12), and therefore of the ruler’s.