From the archives: Alan Greenspan on systematic fear in the economy
Summary
Alan Greenspan, who led the Federal Reserve for 18 years and advised four U.S. presidents, died at age 100 on June 22, 2026. In a 2013 interview, he discussed how trust is essential to the U.S. economy and how fear and irrational behavior affect financial markets.Key Facts
- Alan Greenspan was chair of the Federal Reserve for 18 years.
- He worked with four U.S. presidents during his tenure.
- Greenspan died on June 22, 2026, at the age of 100.
- In 2013, he spoke about managing the American economy before the 2008 financial crisis.
- He emphasized that the economy relies heavily on trust to function.
- Greenspan explained that when trust breaks down, the economic system can collapse.
- He discussed how human emotions, like fear, impact market predictions.
- Greenspan’s wife, Andrea Mitchell, mentioned his strong interest in writing.
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