In a moment of rare candor, Ben Bernanke, chairman of the Federal Reserve, made the following comment in a speech on November 8, 2002, honoring the 90th birthday of Milton Friedman:
Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again.
Here is the complete speech: http://www.federalreserve.gov/boarddocs/Speeches/2002/20021108/default.htm