Richard Armitage Quotes
[Explaining a failed policy:] Our crystal ball was very muddy.
Richard Armitage, State Department, ABC Nightline, June 20, 1992
Sourced by: Eigen's Political and Historical Quotations
He is absolutely right, but unfortunately made this statement several years after he served as the Fed Chairman. He never made a statement like this when he and his colleagues made their policies based on their economic forecasting. Central bankers have generally felt that one of their jobs was to give the people confidence in the nation’s banking system and economy and the admission that much policy making was based on “coin toss” forecasting.
Politicians and public administrators have been aware of unintended consequences for a long time.
Richard Lee Armitage is an American former diplomat and government official. A graduate of the United States Naval Academy, Armitage served as a U.S. Navy officer in three combat tours of duty in the Vietnam War as a riverine warfare advisor. After leaving active duty, he served in a number of civil-service roles under Republican administrations. He worked as an aide to Senator Bob Dole before serving in various posts in the Defense Department and State Department.
