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After releasing the 7,000-word transcript, Dr. Summers said in a letter to the faculty that he should "have spoken differently on matters so complex" and that he had "substantially understated the impact of socialization and discrimination." (The New York Times)

Economists have understated the impact of business investment on wages and demand for labor. (The Heritage Foundation)

Specifically, Tan alleges that the bank understated the impact of interest rate hikes on the company while overstating the stability of its ... (Law360)