economy
Alan Greenspan, former chairman of the Fed, dies at age 100
Alan Greenspan presided over the Federal Reserve for 19 years under four presidents and mastered the art of obfuscation known as Fedspeak.
TL;DR
- Alan Greenspan, former Federal Reserve chairman, passed away at 100.
- He served as Fed chairman from 1987 to 2006, appointed by President Ronald Reagan.
- Greenspan was known for his warning about "irrational exuberance" in asset markets.
- His policies are sometimes cited as contributing factors to the 2008 financial crisis.
- He was known for his complex and often deliberately obscure communication style, dubbed "Fedspeak."
- Greenspan's career included roles as chairman of the Council of Economic Advisers and on the National Commission on Social Security Reform.
- He had a background in jazz music and attended the Juilliard School.
- His memoir, "The Age of Turbulence," defended his low-rate policies and praised presidents Ford and Clinton while criticizing President George W. Bush for spending.