Greenspan: I Don’t Apologize for Missed Forecasts, i am not superman
In an interview with Bloomberg Television’s Sara Eisen, Alan Greenspan defends his actions on monetary policy, offering no apologies for missing economic forecasts. Greenspan said:
“I am in the business where, Harry Truman once said, ‘If you can’t stand the heat, get out of the kitchen’… I apologize for something I did wrong, and I do apologize. I don’t apologize…I was doing the best I can.
The arguments, some of which are quite accurate is I missed certain forecasts, you don’t apologize for that. Do you? I don’t. We are not omniscient. I am a human being. I cannot see beyond the horizon any more than anyone else can. Now to apologize for not being Superman, I just refuse to do that because that never entered my mind.”