Word: undershot
(lookup in dictionary)
(lookup stats)
Dates: during 1978-1978
Sort By: most recent first
(reverse)
During Burns' last year, the Federal Reserve constantly overshot or undershot its targets, for reasons that no one seems fully to understand. The Ml growth rate swung crazily from almost 14% in one month to nearly zero in another, and the gyrations confused and alarmed moneymen. Miller aims for more stability by not pushing down wildly on the pedal or slamming on the brakes in one month to correct the previous month's error...