Alan Greenspan, legendary Fed chair, dies at 100

Alan Greenspan, the influential former chairman of the U.S. Federal Reserve, has died at the age of 100. Greenspan led the central bank for nearly two decades, from 1987 to 2006, a period during which he consolidated its independence.

Born in New York in 1926 to Romanian and Hungarian Jewish immigrants, Greenspan's early life could have taken a different path. He was a talented jazz musician, a friend of Stan Getz, and played saxophone and clarinet professionally. However, his trajectory shifted when he pursued economics, studying at the Stern School of Business and Columbia University.

He built a reputation as an economic consultant by founding Townsend-Greenspan & Co., gaining notice from Richard Nixon's campaign in 1968. Known for his New York humor, deliberately ambiguous communication style, and charm, Greenspan became a prominent figure in economic policy.

While Greenspan's tenure is often lauded for strengthening the Federal Reserve, it is also marked by criticism for his alleged failure to anticipate the 2007 subprime mortgage crisis. His nearly twenty-year leadership positioned him as a potentially legendary figure in central banking history, though some argue his time at the helm might have been too long.