12 November 2008

A reputation for the oblique public announcements

One Congressman, receiving a typically convoluted answer from Greenspan during congressional testimony, thanked the Chairman for his answer and said he believed he now understood the Chairman's position. Greenspan quickly replied, "If that is the case, then I must have misspoken."

From 'A term at the Fed: An Insider's View' by Laurence H. Meyer

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