Alan Greenspan, the former chairman of the Federal Reserve, has died at age 100. His wife, NBC News journalist Andrea Mitchell, confirmed that he died from complications of Parkinson’s disease.
Greenspan served as Federal Reserve chairman for approximately 18-19 years under four presidents, from 1987 to 2006, making him one of the longest-serving chairs in U.S. history. During his tenure, he became one of the most powerful figures in global finance and was initially celebrated as possibly the best central banker in history.
However, Greenspan’s legacy became more complicated following the 2008 financial crisis. Critics argue that his monetary policy decisions and approach to regulating the Federal Reserve contributed to the crisis, significantly tarnishing his reputation. He was also known for his use of obscure language in public statements, a practice referred to as “Fedspeak.”
Greenspan’s long tenure shaped modern Federal Reserve policy and the organization’s expanded power, influencing global financial markets for nearly two decades.
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