From an article in GQ about the Fed head:
[Charles Brunie, Oppenheimer Capital founder and longtime friend of Greenspan] recalls an exchange between famed economist Milton Friedman and Greenspan during a friendly dinner, telling Hylton, "I asked the two geniuses, of all the politicians you have known, how would you rank their intellectual ability?' And Milton said, 'Well, on a Bo Derek scale, Bob Taft was a nine and a half, Nixon was a nine, and Reagan's a seven-' and Alan interrupted, 'No, no, Milton. Reagan's not a seven. He's a four!' Milton said, 'Alan, what do you mean by four?' Alan said, 'Well, Gerry Ford's a four.' And Milton said, 'I don't know what that means.' And Alan said, 'Well, if you gave Gerry Ford a series of data, no matter what the series was, he could not develop a concept. And Reagan is the same.'"
Whole thing here.