Ex-US Fed Reserve chair Alan Greenspan dies at 100

Alan Greenspan, the influential economist who served as the U.S. Federal Reserve chief for over 18 years, has died at the age of 100. Greenspan guided the central bank under four presidents, Ronald Reagan, George H.W. Bush, Bill Clinton, and George W. Bush, a tenure marked by unprecedented economic expansion.

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Under his leadership, the Federal Reserve achieved a sustained era of price stability that supported economic growth and helped anchor the public’s confidence in the institution.

During his leadership, the Federal Reserve achieved a sustained period of price stability, which supported economic growth and bolstered public confidence in the institution. However, his legacy also includes criticism for fostering conditions that were later seen as contributing to the 2008 global financial crisis.

Greenspan's wife, NBC News correspondent Andrea Mitchell, announced his death, stating he passed away from complications of Parkinson's disease. She described him as a "giant of a man" who shaped the U.S. economy for decades, while also being "always honest in acknowledging his mistakes."

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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.

Greenspan, who initially studied music before pivoting to economics, became a prominent figure in Washington's inner circles. He is perhaps most famously remembered for coining the phrase "irrational exuberance" in 1996. This term described the excessive investor enthusiasm and economic optimism that could inflate asset prices beyond their true value, serving as a warning against an overheated stock market.

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He had ‘irrational exuberance’ for baseball, the Washington Commanders, tennis, golf and music, especially jazz.