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Alan Greenspan, the economist who led the Federal Reserve for nearly two decades and helped shape U.S. monetary policy through multiple administrations, died Monday at the age of 100.
His wife, Andrea Mitchell, announced that Greenspan died at their home from complications related to Parkinson’s disease.
“Alan passed away at our home this morning at the age of 100 from complications of Parkinson’s Disease,” Mitchell said in a statement.
“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,” she added.
Greenspan served as chairman of the Federal Reserve from 1987 to 2006, making him one of the longest-serving leaders in the institution’s history. Appointed by President Ronald Reagan, he was reappointed by three subsequent presidents and guided the nation’s monetary policy through major events, including the 1987 stock market crash, the economic expansion of the 1990s, the dot-com boom and bust and the aftermath of the September 11 terrorist attacks.
Born in New York City in 1926, Greenspan studied economics at New York University and later earned a doctorate from Columbia University. Before entering government service, he built a successful career as an economic consultant and adviser.
Supporters credit him with helping steer the economy through periods of uncertainty and maintaining long stretches of economic growth. Critics argue that his support for financial deregulation and failure to recognize risks in the housing market contributed to conditions that led to the 2007-08 global financial crisis.
Following his retirement from the Fed, Greenspan authored several books and remained active as an economic commentator and consultant. In 2005, he received the Presidential Medal of Freedom from George W. Bush.
Greenspan is survived by Mitchell, whom he married in 1997 after a relationship that began more than a decade earlier. His death closes the chapter on one of the most consequential and debated careers in modern American economic policymaking.
