world-economy

Former Federal Reserve Chair Alan Greenspan Dies at 100

Alan Greenspan, former Federal Reserve chairman, died Monday from complications of Parkinson's Disease. The economist served as Federal Reserve chairman for 19 years beginning in 1987 under four presidential administrations, retiring in 2006. His tenure was the second longest in the central bank's history, four months short of William McChesney Martin's leadership from 1951 to 1970. Greenspan became known for a deliberately obscure communication style that often left policymakers and investors parsing his statements for hidden meaning. His December 1996 remarks about "irrational exuberance" in asset valuations initially unsettled markets, though the predicted correction did not materialize until 2001. His wife, Andrea Mitchell, confirmed his death.