Legendary Fed chairman Alan Greenspan dies at 100

Former Federal Reserve chairman Alan Greenspan, who shaped American monetary policy for nearly two decades, has died at the age of 100.

He passed away at his home due to complications from Parkinson’s disease.

Appointed by President Ronald Reagan in 1987, Greenspan led the Federal Reserve until 2006, making him the second-longest-serving Fed chair. His reputation rested on well-timed interest-rate decisions that balanced inflation control with economic expansion.

He led the Fed during one of the longest economic expansions in US history, a boom that lasted from 1991 to 2001.

Greenspan was known for taking a data-driven approach to policymaking, often favoring empirical evidence over textbook models.

He steered the economy through the 1987 stock market crash by slashing rates and boosting liquidity. In the mid-90s, he raised rates to cool inflation without triggering a recession, achieving a soft landing. Later, he resisted calls for further hikes, correctly betting that PC-driven productivity would keep inflation in check. He also navigated through the Asian financial crisis and the aftermath of the September 11 attacks.

Greenspan became widely known for warning about irrational exuberance in financial markets in 1996, a phrase that entered economic history. He earned the nickname “The Maestro” for guiding the economy through major events.

While many praised his role in supporting long periods of economic growth, critics later argued that his low-interest-rate policies contributed to the housing bubble that preceded the 2008 global financial crisis. He remained one of the most influential and debated economists of his generation.