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Longtime Federal Reserve Chairman Alan Greenspan dies at 100

Greenspan served for 19 years as Fed chair under four different presidencies

Zach Gibson/Bloomberg via Getty Images

Alan Greenspan, former chairman of the Federal Reserve System, speaks during a Bloomberg Television interview in Washington, D.C., U.S., on Wednesday, July 24, 2019.

Alan Greenspan — the influential economist who led the Federal Reserve across four presidencies and whose track record guiding economic growth earned him status as an economic “maestro” — died on Monday at age 100.

Greenspan chaired the Federal Reserve from 1987 to 2006, serving under Presidents Ronald Reagan, George H.W. Bush, Bill Clinton and George W. Bush.

He presided over the Fed during one of the longest periods of economic expansion in U.S. history, a boom stretching from 1991 to 2001 — and in 2005 was honored with the Presidential Medal of Freedom from President George W. Bush. 

However, Greenspan drew criticism for championing financial deregulation, which critics argue set the stage for the 2007–2008 global financial crisis. 

Greenspan was born in the Washington Heights neighborhood of New York City. His father was of Romanian Jewish descent, and his mother was of Hungarian Jewish descent. He first came to Washington as chairman of the Council of Economic Advisers in the waning days of the Nixon administration — marking his transition into policy and politics. He was married for 29 years to NBC’s chief Washington correspondent Andrea Mitchell.

On Monday, Mitchell said Greenspan died from complications of Parkinson’s disease. “He will be remembered for his brilliance and his kindness,” she told NBC. 

“He was a giant of a man who helped shape the U.S. economy for decades under presidents of both parties, but was always honest in acknowledging his mistakes.” 

Greenspan — who was known to talk in terms of probabilities and likelihoods — “shaped my life from our very first date in 1984,” Mitchell said. “He had irrational exuberance for baseball, the Washington Commanders, tennis, golf, and music, especially jazz.” 

In 1983, The New York Times described Greenspan as “one of the most popular guests on New York’s party circuit — and one of America’s leading and most sought after economists” after he was spotted at Henry Kissinger’s lavish 60th birthday party accompanied by Barbara Walters.

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