economy
Alan Greenspan, chair of Federal Reserve under 4 U.S. presidents, dies at age 100
Updated on: June 22, 2026 / 5:34 PM EDT / CBS News
TL;DR
- Alan Greenspan, former Federal Reserve chairman, died at 100 due to complications from Parkinson's Disease.
- He served as Fed chair for 18 years, overseeing the "Great Moderation" period of economic stability.
- His tenure included financial crises such as the 1987 stock market crash and the dot-com collapse.
- Greenspan coined the term "irrational exuberance" to describe market bubbles.
- His legacy is controversially linked to the 2008 financial crisis, with critics citing "loose money" policies.
- Greenspan defended his decisions, calling criticisms "revisionist history" but also acknowledged errors.
- He championed greater transparency in central banking communications.
- Greenspan had a notable early life, showing mathematical talent and studying at NYU and Juilliard.