An article summarized by NBC News:
Alan Greenspan, the longtime chairman of the Federal Reserve and one of the most influential economic figures in modern American history, died Monday at the age of 100 from complications of Parkinson’s disease, according to his wife, journalist Andrea Mitchell. Greenspan led the Fed from 1987 to 2006 under four presidents and helped shape U.S. monetary policy during a period that included the end of the Cold War, the rise of globalization, and the internet boom. Mitchell remembered him as both a brilliant economist and a devoted husband, praising his intellect, humility, and kindness.
Greenspan's tenure at the Fed coincided with one of the longest economic expansions in U.S. history, from 1991 to 2001. He earned widespread praise for guiding the economy through major events such as the 1987 stock market crash, the dot-com boom, and the aftermath of the September 11 attacks. Nicknamed "The Maestro," he became a rare celebrity among economists, admired by presidents, investors, and business leaders alike. Before his time at the Fed, he served as an economic adviser to several Republican administrations and was influenced early in his career by author and philosopher Ayn Rand.
Despite his achievements, Greenspan's legacy remains controversial. Critics argue that his support for financial deregulation and his failure to recognize the housing bubble helped lay the groundwork for the 2007-08 global financial crisis. A bipartisan commission later concluded that decades of deregulation, championed in part by Greenspan, contributed to the collapse. Greenspan himself acknowledged after the crisis that the financial system had failed in ways he had not anticipated. Even so, he remains one of the most consequential economic policymakers in American history, leaving behind a legacy marked by both extraordinary success and significant debate.
