Why does it say "Chesed ve'Emes Nifgashu"?
Rashi: Yisrael will speak Emes, and from Shamayim, Chesed will encounter them.
Radak: At the time of the redemption, the honor will dwell in the Beis ha'Mikdash, and there will be Chesed ve'Emes in the world. All Yisrael will be in one path to serve Hashem - "She'eris Yisrael Lo Ya'asu Avlah v'Lo Yedabru Chazav" (Tzefanyah 3:13); there will be Tzedek and Shalom in the world.
Malbim: Chesed and Emes will encounter each other in this salvation, like two friends meeting each other in the middle of the road. Emes rises from the ground - it is the merit of the generation. Opposite it, Chesed descends from Shamayim - it is the great, unlimited salvation, more than based on deeds.
Why does it say "Tzedek v'Shalom Nashku"?
Rashi: The Tzedakah that Yisrael do, and the Shalom from Hashem, they kiss each other - i.e. "v'Hayah Ma'ase ha'Tzedakah Shalem" (Yeshayah 32:17).
Radak: They will be brothers and friends. Since there is Emes and Tzedek among people, they will have from Hashem Chesed and Shalom.
Malbim: They result from the meeting of Chesed and Emes. Tzedek is in between Mishpat and Chesed. Payments that are limited according to the deed that is Emes, this is the way of Mishpat. Tzedek does not look at the general laws of Mishpat. Rather, it goes beyond the letter of the law. It is between absolute Din and absolute Chesed. The Chesed that Hashem does is based on Emes, i.e. deed. He must speak Shalom to His nation and Chasidim, i.e. supervise that the recipient will endure and not falter, i.e. sin - "v'Al Yashuvu l'Chislah" (verse 9). Tzedek is formed via the meeting of Chesed and Emes, and from it comes Shalom.
