Alan Greenspan — American economist and long-serving Federal Reserve Chairman

Early life and career

Raised in New York City, Greenspan studied economics in higher education and worked in private consulting before entering government service. In the 1970s he chaired the Council of Economic Advisers and later returned to the private sector, gaining a reputation as an analytical thinker with libertarian influences. These experiences shaped his approach to central banking and market oversight.

Federal Reserve leadership

Appointed by President Ronald Reagan, Greenspan led the Federal Reserve for nearly two decades. During his term the Fed responded to events such as the 1987 stock market crash, the 1990s tech boom and bust, and the aftermath of the September 11 attacks. His policy choices emphasized inflation control, flexible interest-rate management and reliance on market mechanisms.

Greenspan's approach produced extended low inflation and long economic growth in the 1990s, earning both praise and nicknames that reflected his perceived influence on markets. Critics later argued that low-interest policies and a permissive regulatory stance contributed to excessive risk-taking that helped create the housing and credit problems of the late 2000s.

Legacy and later work

After retiring in 2006 and being succeeded by Ben Bernanke, Greenspan wrote and spoke extensively on economic issues, including a memoir and public testimony about financial regulation. His legacy mixes recognition for macroeconomic stability with controversy over regulatory policy and the role of central banks in preventing asset bubbles.

Notable facts

• Born March 6, 1926; studied economics and worked in both public and private sectors.
• Served as Chairman of the Council of Economic Advisers in the 1970s and as Fed Chair from 1987–2006.
• Associated with market-oriented views and debated for his influence on late‑20th‑century financial trends.
• Author of a widely read memoir and frequent commentator on monetary policy and regulation.