Alan Greenspan, who served as the chairman of the U.S. Federal Reserve for nearly two decades, has died at the age of 100 due to complications from Parkinson's disease.
Key points
- Greenspan led the U.S. central bank from 1987 until his retirement in 2006, serving under four U.S. presidents.
- He was widely credited for guiding a record-long U.S. economic expansion during the 1990s.
- His legacy faced significant criticism following the 2007-2008 financial crisis, with reports citing his support for financial deregulation as a contributing factor.
- The 2011 Congressional Financial Crisis Inquiry Commission identified his failure to curb subprime mortgage lending as a partial cause of the global economic downturn.
Why it matters
As a long-serving central banker, Alan Greenspan was a defining figure in modern global finance whose policies shaped the U.S. economy for nearly twenty years.
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