Alan Greenspan dies aged 100

Alan Greenspan died on April 10, 2024, at the age of 100. He served as the Chair of the Federal Reserve for nearly 19 years, from August 11, 1987, to January 31, 2006, making him the longest-serving chair in the institution's history. Greenspan was widely lauded during his tenure for guiding the U.S. economy through periods of growth and stability, including the dot-com bubble and the early years of the 21st century. His economic policies were often credited with fostering low inflation and steady employment. However, his legacy underwent significant reassessment following the 2008 financial crisis. Critics pointed to his deregulation policies, particularly the repeal of the Glass-Steagall Act in 1999, as contributing factors to the excessive risk-taking that led to the crisis. Greenspan himself acknowledged in 2008 that his "ideology" of free markets had been flawed, stating, "I have found a flaw in the prevailing mental model." He was a prominent figure in economic policy, influencing global financial markets and national economic strategies for decades.