Andrew Hill is helpful in explaining Haggai 2:23 and how ultimately Zerubbabel pointed forward to Jesus, the Greater Zerubbabel.
Haggai 2:23:“23 On that day, declares the LORD of hosts, I will take you, O Zerubbabel my servant, the son of Shealtiel, declares the LORD, and make you like a signet ring, for I have chosen you, declares the LORD of hosts.”
“Haggai’s final sermon should not be construed as a subversive manifesto for political insurrection against the Persian Empire. Rather, it was a call to wait faithfully and expectantly for the ever-imminent Day of the Lord, that day of judgment and redemption inaugurating God’s kingdom of righteousness (Is 32:1-2, 15-20; 65:17-25). Zerubbabel was indeed instrumental in rebuilding of the Second Temple, but much of what Haggai envisioned was never realized under his leadership. This does not represent a failure of the prophetic word, but rather is another example of the pattern in OT prophetic literature of predictions having both near and distant fulfilments. It also suggests that Zerubbabel may be a representative figure (like Moses [Deut 18:18], David [Ezek 34:23-24] and Elijah [Mal 4:5-6]) who finds his ultimate expression in a greater Zerubbabel who is to come—namely Jesus the Messiah” (“Haggai” p 98)
