Word: teeing
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Dates: during 1960-1969
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Breakthrough. In announcing the new index, the Fed pointedly made no reference to the mounting attacks on its pol icy of credit restraint, which many Congressmen contend has sacrificed growth for stable prices. Last week Democrat Paul Douglas' Joint Economic Commit tee of Congress came out with a massive report on "employment, growth and price levels" that criticized the policies of Fed Chairman William McChesney Martin Jr. and Secretary of the Treasury Robert Anderson as "stepping too hard on the fiscal and monetary brakes,"thereby limiting economic expansion. But the Fed's bulletin makes clear that output...