Alan Greenspan, the influential economist who led the Federal Reserve for nearly two decades and became one of the most powerful figures in global finance, died Monday morning at the age of 100.
His wife, veteran NBC News journalist Andrea Mitchell, told CNBC that Greenspan died from complications of Parkinson’s disease. The couple, who married in 1997, had been together for nearly three decades.
Greenspan served as Fed chairman from 1987 to 2006 under four presidents — Ronald Reagan, George H.W. Bush, Bill Clinton and George W. Bush.
During his tenure, he steered the US economy through a series of chaotic events including the 1987 stock market crash, the Asian financial crisis, the dot-com boom and bust and the aftermath of the Sept. 11 terrorist attacks.
Known for his often-cryptic public remarks, Greenspan became a Wall Street celebrity during the 1990s economic expansion and earned the nickname “the Maestro.”
His 1996 warning about “irrational exuberance” became one of the most famous phrases in modern economic history.
In later years, Greenspan faced criticism from some economists who argued that policies pursued during his tenure helped lay the groundwork for the 2008 financial crisis.
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
