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Former Federal Reserve Chairman Greenspan has died at the age of 100
Svmuu News: Former Federal Reserve Chairman Alan Greenspan has died at the age of 100. According to NBC News, citing his wife, the network’s chief foreign affairs correspondent and chief Washington correspondent Andrea Mitchell, he died at home on Monday from complications of Parkinson’s disease. Greenspan once led the U.S. economy to a record-breaking expansion, but the financial crisis that erupted less than two years after he stepped down dimmed his legacy.Greenspan served as chairman of the Federal Reserve for 18 years (from 1987 until his retirement in early 2006), during which time the U.S. stock market boomed and unemployment remained low. He was regarded as the “master” of keeping the economy running smoothly more so than any of the four presidents he served under or the seven Treasury secretaries he worked with.Roger Ferguson, who served as Vice Chairman of the Federal Reserve from 1999 to 2006, stated: “Alan Greenspan should be remembered as one of the greatest central bankers of the second half of the 20th century on a global scale, not just within the Federal Reserve.”He noted that Greenspan “was one of the first to recognize the impact of technology on U.S. productivity gains, enabling the economy to achieve faster-than-expected growth without triggering inflation.” (Jin Shi)
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