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  5. Former US Federal Reserve Chairman Alan Greenspan Dies at 100

Former US Federal Reserve Chairman Alan Greenspan Dies at 100

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Alan Greenspan, the former Federal Reserve Chairman who guided the U.S. economy through a decade of growth and the 1987 stock‑market crash, died at 100 after complications from Parkinson’s disease. His 18‑year tenure—second longest in Fed history—earned him widespread respect for establishing the institution’s credibility, although his legacy was later questioned by the 2008 recession.

  1. US
    Federal Reserve System
    1. He brought rigorous analytical discipline to monetary policymaking and helped establish the credibility that remains one of the Federal Reserve's most important assets.
    2. The Federal Reserve notes with deep sadness the passing of Alan Greenspan.
    3. Chairman Greenspan's legacy endures at the Federal Reserve — in those he mentored directly, in the economists and public servants he inspired, and in the frameworks and practices he helped shape.
  2. US
    Kevin Hassett
    1. And if you go back and look at the history of the American economy going back over the last 50 years, I think Greenspan's judgment to leave the economy alone, and let the internet boom happen, and the productivity boom from internet happen….that judgment created an enormous amount of wealth and prosperity for our country.
    2. He was just an absolutely brilliant mind who saw the computer revolution happening before anyone else did.
  3. US
    Financial Crisis Inquiry Commission
    1. More than 30 years of deregulation and reliance on self-regulation by financial institutions, championed by former Federal Reserve [chair] Alan Greenspan and others … had stripped away key safeguards, which could have helped avoid catastrophe.
  4. US
    Alan Greenspan
    Federal Reserve System
    1. How do we know when irrational exuberance has unduly escalated asset prices.
    2. Then fear hits, and it comes down very sharply. When I started to look at that, I was sort of intellectually shocked.
    3. Bubbles go up very slowly as euphoria builds.
    4. Undermine that freedom and the whole market-balancing process is put at risk.
    5. Regulation by its nature inhibits freedom of market action, and that freedom to act expeditiously is what rebalances markets.
    6. I was a pretty good amateur musician, but I was average as a professional, and I was aware of that because you learn pretty quickly how good some professional musicians are.
    7. Since I've become a central banker, I've learned to mumble with great incoherence.
    8. Those of us who have looked to the self-interest of lending institutions to protect shareholders' equity, myself included, are in a state of shocked disbelief.
    9. I spend a substantial amount of my time endeavoring to fend off questions, and worry terribly that I might end up being too clear.
    10. I know you believe you understand what you think I said, but I am not sure you realize that what you heard is not what I meant.
  5. US
    Stephen Oliner
    Federal Reserve System
    1. I think the deification that came just before the financial crisis was never really deserved, and I think the lambasting that he took after he left was never fully deserved either.
  6. US
    Gary Richardson
    University of California, Irvine
    1. He got in the driver's seat when the deregulation trend was incipient. He was a champion of deregulating the financial industry.
    2. There was just this view that financial markets were going to regulate themselves.
  7. US
    Alan Blinder
    Princeton University
    1. He was willing to watch and wait as the unemployment rate drifted lower and lower and lower and lower, and we still had no inflation.
  8. US
    Anne Heller
    1. Greenspan said that Ayn Rand put the moral foundation under capitalism for him.

sources

  1. 1.The Straits Times
  2. 2.CNA News
  3. 3.France 24
  4. 4.Los Angeles Times
  5. 5.CNN
  6. 6.Hindustan Times
  7. 7.Jakarta Globe
  8. 8.The Guardian
  9. 9.NPR
  10. 10.Agence France-Presse
  11. 11.Associated Press
  12. 12.CNBC

perspectives

  1. 1.2024 US Presidential Election
  2. 2.US Economy
  3. 3.Obituary
  4. 4.Central Bank

countries

  1. 1.United StatesUS
  2. 2.JapanJP
  3. 3.MexicoMX
  4. 4.ChinaCN
  5. 5.Russian FederationRU

organizations

  1. 1.Federal Reserve System
  2. 2.Juilliard School
  3. 3.New York University
  4. 4.Republican Party
  5. 5.House of Representatives Oversight Committee
  6. 6.International Monetary Fund
  7. 7.Washington Commanders
  8. 8.Democratic Party
  9. 9.Joint Economic Committee
  10. 10.American Enterprise Institute
  11. 11.Columbia University
  12. 12.Dow Jones

persons

  1. 1.Alan GreenspanUS
  2. 2.Andrea MitchellUS
  3. 3.George W BushUS
  4. 4.Ayn Rand
  5. 5.Bill ClintonUS
  6. 6.Ronald ReaganUS
  7. 7.George HW Bush
  8. 8.Ben S Bernanke
  9. 9.Gerald R Ford
  10. 10.Jerome PowellUS
  11. 11.Paul Volcker
  12. 12.Richard Nixon

technicals

  1. 1.September 11 Terrorist Attacks
  2. 2.Great Depression
  3. 3.Black Monday
  4. 4.Fedspeak
  5. 5.Great Recession
  6. 6.Capitol Hill
  7. 7.Atlas Shrugged
  8. 8.Briefcase Indicator
  9. 9.Capitalism: The Unknown Ideal
  10. 10.Chicken Noodle News
  11. 11.Man Who Knew: The Life and Times of Alan Greenspan
  12. 12.Map and the Territory
Former US Federal Reserve Chairman Alan Greenspan Dies at 100