Murray Gell-Mann Quotes
Sometimes the probabilities are very close to certainties, but they're never really certainties.
Gell-Mann, Murray. Interview. Web of Stories, 1997.
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.
Murray Gell-Mann was an American physicist who received the 1969 Nobel Prize in Physics for his work on the theory of elementary particles. He was the Robert Andrews Millikan Professor of Theoretical Physics Emeritus at the California Institute of Technology, a distinguished fellow and one of the co-founders of the Santa Fe Institute, a professor of physics at the University of New Mexico, and the Presidential Professor of Physics and Medicine at the University of Southern California.
