Alan Greenspan, the former US Federal Reserve chairman whose words could move markets, has died at the age of 100. Reports said he died from complications linked to Parkinson’s disease. For decades, he was one of the most closely watched figures in global finance.
Greenspan was born in New York City in 1926. His early path was unusual for a central banker. Before turning to economics, he studied music and played jazz professionally. He later earned economics degrees from New York University and built a reputation as a serious thinker long before he reached the Fed.
He led the Federal Reserve from 1987 to 2006. That made him one of the longest-serving central bank chiefs in US history. He served under four presidents and guided the economy through major shocks. These included the 1987 stock market crash, the Asian financial crisis, the dot-com boom and bust, and the aftermath of the September 11 attacks.
During his tenure, Greenspan was often credited with helping keep inflation low and growth steady through much of the 1990s. His calm style and careful language gave him enormous influence. Investors, bankers and policymakers around the world watched his every remark. He became known as “The Maestro.”
Before becoming Fed chair, Greenspan had already held senior roles in Washington. He served as chairman of the Council of Economic Advisers under President Gerald Ford. Ronald Reagan later appointed him to the Fed in 1987. He was then reappointed by George H.W. Bush, Bill Clinton and George W. Bush. That rare cross-party support reflected his standing in public life.
But his legacy was not without controversy. After the 2008 global financial crisis, critics said his support for deregulation and low interest rates helped fuel the housing bubble. Greenspan later admitted he had placed too much faith in the ability of financial institutions to manage risk on their own.
Outside economics, he was known for his marriage to journalist Andrea Mitchell and for his guarded public style. That mystery only added to his reputation. Tributes have now begun to pour in from across the financial world, closing the chapter on a long and closely debated life.
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