Donald Rumsfeld Quotes
The press always wants to know how many people will be killed or how much it will cost, but the answers to those questions are not knowable.
United States, Department of Defense. "DoD News Briefing - Secretary Rumsfeld." 2003.
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.
Donald Henry Rumsfeld is a retired American politician. Rumsfeld served as Secretary of Defense from 1975 to 1977 under Gerald Ford, and again from January 2001 to December 2006 under George W. Bush. He is both the youngest and the second-oldest person to have served as Secretary of Defense. Additionally, Rumsfeld was a three-term U.S. Congressman from Illinois (1963–69), director of the Office of Economic Opportunity (1969–70), counsellor to the president (1969–73), the United States Permanent Representative to NATO (1973–74), and White House Chief of Staff (1974–75). Between his terms as Secretary of Defense, he served as the CEO and chairman of several companies.