Alan Greenspan, former chairman of the Fed, dies at age 100
Alan Greenspan, former chairman of the Federal Reserve who served from 1987 to 2006, has died at the age of 100. He steered U.S. monetary policy through periods of economic expansion, the dot-com boom, and the aftermath of 9/11, and was known for his management of interest rates and influence on global markets.
Background
Alan Greenspan, who died at 100, was Chairman of the U.S. Federal Reserve (the central bank that controls interest rates) from 1987 to 2006, serving under four presidents. He was seen as a near-mythical figure in global finance — dubbed "the Maestro" for steering the economy through the 1987 stock market crash, the dot-com boom, and 9/11. His legacy is complicated: his ultra-low interest rates in the early 2000s are widely blamed for fueling the housing bubble that led to the 2008 financial crisis, though his supporters argue Congress and bankers share blame. He also championed financial deregulation, much of which was later reversed after 2008. To understand his significance: he was the most influential central banker of his era, and the debate over his record is really a debate about whether the Fed should actively pop bubbles or just clean up after them.