Robert Rubin: Decision-making and embracing uncertainty

By Robert E. Rubin, Sylvia Mathews Burwell, and Michael Froman

Former Treasury Secretary Robert Rubin shared insights from his remarkable career journey and discussed his new book, "The Yellow Pad." From his early days at Harvard and Yale Law School to his 26-year tenure at Goldman Sachs, where he rose to become co-chairman, Rubin's path was marked by thoughtful decision-making and a willingness to embrace uncertainty. He discussed his transition to public service as the first director of the National Economic Council under President Clinton before becoming Treasury Secretary, where he played a crucial role in achieving budget surpluses and managing international financial crises, including the Mexican peso crisis.

Throughout the discussion, Bob emphasized a central theme from his book: the importance of probabilistic thinking and accepting uncertainty in decision-making. He shared candid reflections on his time at Citigroup during the 2008 financial crisis and offered his current views on inflation, Fed policy, and the national debt. When asked about his proudest achievement, Rubin characteristically deflected, emphasizing instead his philosophy of focusing on doing the best possible job at whatever is in front of him. He praised President Clinton's leadership, particularly his willingness to make difficult, unpopular decisions when they were in the country's best interest.

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