Alan Greenspan, the former chair of the US Federal Reserve, passed away at the age of 100, according to his widow. In a statement sent by her workplace, NBC News correspondent Andrea Mitchell stated that her spouse had passed away due to Parkinson’s disease complications.
Greenspan was described as “a giant of a man who helped shape the US economy for decades under presidents of both parties, but was always honest in acknowledging his mistakes” by Mitchell.
Alan Greenspan was tasked with protecting the US economy and maintaining the stability of the dollar for almost two decades. He oversaw the greatest sustained run of US economic development in a generation while serving as chairman of the Federal Reserve from 1987 to 2006, a position regarded as the second most significant after the president.
During his tenure at the Fed, Greenspan, dubbed the “God in the machine” of American finance, turned down every interview request.There was a sign in his office that read, “The buck starts here,” and the media and financial markets relied on his rare public remarks. However, some contend that an excessive dependence on easy credit contributed to both the 2008 sub-prime mortgage crisis and the dot-com bubble of the late 1990s.
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