FORMER US FEDERAL RESERVE CHAIRMAN ALAN GREENSPAN DIES AT 100
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By:Tajudeen Aminat
Former Chairman of the United States Federal Reserve, Alan Greenspan, has died at the age of 100.
Greenspan, one of the most influential economists in modern American history, passed away on Monday from complications related to Parkinson’s disease, according to a statement issued by his wife, Andrea Mitchell.
His death marks the end of an era for a policymaker widely credited with shaping the trajectory of the American economy over nearly two decades at the helm of the US central bank.
In a statement, the [Federal Reserve](https://www.federalreserve.gov?utm_source=chatgpt.com) expressed deep sadness over his passing, praising his contributions to monetary policy and economic thought.
“Under his leadership, the Federal Reserve achieved a sustained era of price stability that supported economic growth and helped anchor the public’s confidence in the institution,” the statement said.
Greenspan served as the 13th chairman of the Federal Reserve Board from 1987 to January 2006, making him one of the longest-serving leaders of the institution.
He was appointed by Ronald Reagan and remained in office across four presidential administrations, serving under George H. W. Bush, Bill Clinton and George W. Bush.
During his tenure, Greenspan became known for overseeing a prolonged period of economic expansion and low inflation that defined much of the 1990s and early 2000s.
However, his legacy later came under scrutiny after critics argued that policies pursued during his leadership contributed to financial conditions that preceded the Global Financial Crisis.
Greenspan was also widely remembered for popularising the phrase “irrational exuberance” in 1996 — a warning against excessive investor optimism and inflated asset prices during periods of rapid market growth.
Beyond economics, Mitchell described her husband as a man with deep personal passions.
“He had irrational exuberance for baseball, the Washington Commanders, tennis, golf and music, especially jazz,” she said.
Born in New York City, Greenspan initially pursued music before turning to economics and eventually becoming one of the most influential voices in global financial policy.
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