Former Fed Chairman Alan Greenspan Dies at 100
Alan Greenspan, who served five terms as chairman of the Federal Reserve and was once hailed as a maestro for steering a booming economy, has died at the age of 100. His wife, Andrea Mitchell, confirmed his death.
Career and Legacy
Greenspan was appointed by President Ronald Reagan in 1987 and served under four presidents, including George H.W. Bush, Bill Clinton, and George W. Bush. He oversaw a period of economic expansion and low inflation, earning widespread praise. However, after his tenure, he faced criticism for policies that some blamed for contributing to the housing bubble and the 2008 financial crisis.
Impact and Controversy
Despite his earlier acclaim, Greenspan's legacy became contentious. Critics argued that his support for deregulation and low interest rates fueled risky lending practices. In his memoir, Greenspan acknowledged some errors but defended his overall approach.
