Alan Greenspan, the 13th chairman of the Federal Reserve who served under four presidents, died at age 100.“Alan passed away at our home this morning at the age of 100 from complications of Parkinson’s Disease,” Andrea Mitchell, Greenspan’s wife and chief Washington correspondent for NBC News, said in a statement.“He was a giant of a man who helped shape the U.S. economy for decades under presidents of both parties, but was always honest in acknowledging his mistakes,” she said. “To me he was my husband, who shaped my life from our very first date in 1984. He had ‘irrational exuberance’ for baseball, the Washington Commanders, tennis, golf and music, especially jazz,” Mitchell added. “He will be remembered for his brilliance and his kindness. Being his life partner was the joy of my life.”
Greenspan is known for presiding over one of the longest economic expansions in U.S. history. He represented the establishment of a form of free-market economics in government.After being nominated by President Ronald Reagan in 1987 as chairman of the Board of Governors of the Federal Reserve, he was appointed again by Presidents George H.W. Bush, Bill Clinton, and George W. Bush. Greenspan was notably reappointed by Clinton despite criticism from the Democratic Party due to his free-market beliefs. He served in the Fed for almost 19 years until his final term ended in 2006. His ideas of keeping inflation low and establishing price stability helped create the foundation for the “Great Moderation.” It was during this time that there was a decline in volatility both in GDP growth and inflation. This was done without compromising economic growth or unemployment.Surrogates for Ronald Reagan, from left, Richard Allen, chief foreign policy advisor; Alan Greenspan, economist; and Edward Meese III, chief of staff and domestic affairs advisor, sit together Oct. 20, 1980 at a press conference at the St. Regis Hotel in New York City. The men reiterated Reagan’s commitment to Israel and the candidate’s position on a variety of issues. (AP Photo/Marty Lederhandler)
