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Mon, 22 Jun 2026

Mon, 22 Jun 2026 Alan Greenspan, architect of the modern American economy, dies aged 100

As chairman of the Federal Reserve, Alan Greenspan became the world's most high-profile banker.
Here are some key points from his life and career: Early Life and Career
* Born on March 6, 1926
* Studied economics at New York University and later earned a Ph.D. from Columbia University
* Taught economics at several universities, including Northwestern and NYU Federal Reserve Chairman (1987-2006)
* Served as Chairman of the Federal Reserve under five different presidents: Ronald Reagan, George H.W. Bush, Bill Clinton, George W. Bush, and Barack Obama
* Played a key role in shaping monetary policy during the 1990s and early 2000s
* Advocated for low inflation and a strong dollar Economic Philosophy
* Strong advocate for free-market economics and limited government intervention
* Believed that markets could self-regulate and did not need strict regulation Notable Events and Decisions
* Slashed interest rates after the 9/11 attacks to help prop up the US economy
* Urged President George W. Bush to remove Saddam Hussein from power, citing concerns about global energy markets
* Stood down as Chairman of the Federal Reserve in 2006 after five terms in office Criticism and Legacy
* Criticized for his role in allowing the sub-prime mortgage crisis to occur
* Admitted that he had put too much faith in free-market principles and given insufficient attention to regulation
* Testified before Congress in 2008, acknowledging a flaw in his economic philosophy
* Awarded the Presidential Medal of Freedom in Washington and an honorary knighthood by Queen Elizabeth II Later Life
* Remained an influential economic voice into his late 90s, advising presidents and appearing on television as a pundit
* Criticized President Trump's populist approach and Britain's decision to leave the European Union (Brexit)
* Celebrated his centenary in March 2026, with his legacy still debated among economists and policymakers.