Former US Federal Reserve Chair Alan Greenspan, widely known as “the Maestro” for his long stewardship of American monetary policy, has died at the age of 100 due to complications from Parkinson’s disease, according to reports confirmed by his family.
Greenspan served as Chair of the Federal Reserve from August 11, 1987, to January 31, 2006, becoming one of the longest-serving central bank chiefs in US history. During his tenure, he was reappointed by multiple US presidents and oversaw major global economic shifts, including the end of the Cold War, the dot-com boom, and the acceleration of globalisation.
His leadership period was marked by significant economic expansion in the United States, but also by controversy. Critics later argued that some of his policy positions, particularly his support for financial deregulation, contributed indirectly to conditions that culminated in the 2008 global financial crisis, which occurred shortly after his retirement.
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Greenspan’s legacy includes the widely discussed concept of the “Greenspan Put,” referring to the Federal Reserve’s perceived willingness during his tenure to intervene in markets during sharp downturns, notably after the 1987 stock market crash when the Dow Jones Industrial Average suffered its largest single-day percentage fall.
Throughout his career, Greenspan became known for his influence over global financial markets and his reputation as a stabilising force during periods of volatility. He was often credited with helping guide the US economy through cycles of boom and bust while maintaining relatively low inflation for extended periods.
He is survived by his wife, journalist Andrea Mitchell, who confirmed his death in a statement, describing him as a major economic figure who acknowledged his mistakes and a personal partner who deeply influenced her life. She said he would be remembered for his intelligence, humility, and lifelong passion for music, sports, and public service.
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