Alan Greenspan, the influential former Federal Reserve chairman known as 'the Maestro,' has died at 100. His nearly 20-year tenure from 1987 to 2006 shaped the U.S. economy, famously warning of "irrational exuberance" in 1996. While praised for navigating crises like the 1987 crash, his low-interest-rate policies are also cited by critics as a contributing factor to the 2008 financial crisis.
Greenspan death at 100
- ▪The Federal Reserve noted Alan Greenspan's passing "with deep sadness" in a statement
- ▪His death was announced by his wife of 29 years, NBC News correspondent Andrea Mitchell
- ▪Former Federal Reserve chairman Alan Greenspan died on June 22, 2026, at the age of 100
- ▪Alan Greenspan died at his home from complications of Parkinson's Disease
Fed chairmanship 1987-2006
- ▪Appointed by President Ronald Reagan in 1987, Alan Greenspan served as Fed chairman until his retirement in 2006
- ▪Alan Greenspan's tenure as Fed chairman was the second longest in history, four months short of William McChesney Martin's
- ▪In his 2007 memoir, Alan Greenspan criticized President George W. Bush for not reining in spending
- ▪During his chairmanship, Greenspan led the Fed through the 1987 'Black Monday' crash, the 9/11 attacks, and the dot-com bust
- ▪In his last year at the Fed, Alan Greenspan's salary was about $180,000
Irrational exuberance speech
- ▪The phrase 'irrational exuberance' was interpreted as a signal that Alan Greenspan believed the stock market was overvalued
- ▪In a televised speech on December 5, 1996, Alan Greenspan questioned when 'irrational exuberance has unduly escalated asset values.'
- ▪Following Greenspan's 'irrational exuberance' comment, the Tokyo stock market fell 3%, and other global markets also tumbled
Market impact
- ▪After the 'Black Monday' crash on October 19, 1987, Greenspan affirmed the Fed's readiness to serve as a source of liquidity
- ▪Alan Greenspan was considered one of the most influential economic policymakers of his era, nicknamed 'the Maestro.'
- ▪Critics have cited Alan Greenspan's loose monetary policies as a contributing cause of the 2008 financial crisis
Early life
- ▪Before studying economics, Alan Greenspan studied clarinet at the Juilliard School and played saxophone in a jazz band
- ▪In 1997, Alan Greenspan married NBC News correspondent Andrea Mitchell
- ▪Alan Greenspan was born on March 6, 1926, in New York's Washington Heights
- ▪Alan Greenspan was a close friend of 'Atlas Shrugged' novelist Ayn Rand, to whom he was introduced by his first wife
- ▪Penguin Press paid $8.5 million for Alan Greenspan's memoir, the second-largest advance for a non-fiction book at the time
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