Alan Greenspan, former Federal Reserve chairman, dies at 100
Alan Greenspan, who chaired the Federal Reserve from 1987 to 2006, has died at 100. He shaped US monetary policy across five presidencies and remained a contested figure over the housing-debt build-up that preceded the 2008 crisis.
Alan Greenspan, one of the longest-serving Federal Reserve chairs in history, died at his New York home aged 100, CNBC reported. Appointed by Ronald Reagan in 1987 and kept on by Bush, Clinton and George W. Bush, Greenspan intervened in the October 1987 crash within two months of taking office and steered the bank through the dot-com bust.
His cryptic delivery, dubbed « Fedspeak », routinely moved bond and equity markets across nearly two decades. He raised the federal funds rate from 3% to 6% in 1994 and cut it to a then-record 1% in 2003. The protracted low-rate stance later drew sharp criticism for fuelling the housing bubble that triggered the 2008 global financial crisis.
Wall Street paused briefly on the news; S&P 500 futures slipped 0.2%. Current Fed chair Jerome Powell called him « the architect of the modern central-banking framework », while Senator Elizabeth Warren said his deregulatory instincts had « cost ordinary Americans dearly », highlighting the contested legacy of the so-called « maestro ».
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