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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.
Alan Greenspan, former Chairman of the Federal Reserve, passed away at an advanced age. His 20-year tenure at the helm of the US economy was marked by periods of growth and crisis. During his time in office, Greenspan made significant decisions that shaped the course of economic history. He lowered interest rates to stimulate growth during the late 1990s, but critics argued that this fueled the dot-com bubble and subsequent market crash. Greenspan also faced criticism for his stance on regulation. He believed in a free-market approach, which led him to underestimate the risks associated with sub-prime lending. In 2008, he acknowledged that he had given too much faith in the financial industry's ability to self-regulate. Despite these controversies, Greenspan's legacy is complex and multifaceted. He was a sought-after economic adviser and media pundit into his late 90s, and his opinions were widely followed by policymakers and investors. Greenspan's tenure at the Federal Reserve was marked by two major market crashes: the dot-com bubble and the sub-prime mortgage crisis. However, he also oversaw periods of unprecedented growth and stability, with GDP contracting only once during his time in office. In retirement, Greenspan remained a prominent figure in economic debates, often speaking out on issues such as interest rates and regulation. His passing marks the end of an era for those who followed his career and opinions over the years.