Alan Greenspan, Fed chair under 4 U.S. presidents, dies at age 100
Summary
Alan Greenspan, who was chairman of the U.S. Federal Reserve under four presidents, died at age 100 from complications of Parkinson's disease. He led the Federal Reserve during a period of economic stability but was also linked to financial crises, including the 2008 global financial crash.Key Facts
- Greenspan served as Federal Reserve chairman under four U.S. presidents.
- He died at home from complications related to Parkinson's disease.
- His time as Fed chair covered the Great Moderation, a period of low inflation and economic growth.
- He warned about "irrational exuberance" during the dot-com bubble in the 1990s.
- Some blame his policies for contributing to the 2008 financial crisis after his term ended in 2006.
- Greenspan defended his record, saying he warned about housing market problems before the crisis.
- He started as an economist focused more on numbers but later acknowledged the role of human behavior in economics.
- Greenspan promoted more transparency in Federal Reserve communications to reduce market surprises.
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