Alan Greenspan, RIP
Alan Greenspan, the former Federal Reserve chairman who served from 1987 to 2006, has died. He was known for his influential yet controversial tenure overseeing U.S. monetary policy, including the dot-com boom and the 2008 financial crisis.
Background
Alan Greenspan was Chairman of the US Federal Reserve from 1987 to 2006, serving under four presidents. He became one of the most powerful and influential figures in global finance, known for managing the economy through crises like the 1987 stock market crash and the dot-com boom. His reputation collapsed after the 2008 financial crisis, which many blamed on his long era of low interest rates and light-touch regulation. "The Greenspan put" refers to the market belief that he would always intervene to prop up asset prices, encouraging risk-taking. This piece reflects on his death and contested legacy.