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Alan Greenspan

Alan Greenspan
Alan Greenspan color photo portrait.jpg
Chairman of the Federal Reserve
In office
August 11, 1987 – January 31, 2006
President Ronald Reagan
George H. W. Bush
Bill Clinton
George W. Bush
Deputy Manley Johnson
David Mullins
Alice Rivlin
Roger Ferguson
Preceded by Paul Volcker
Succeeded by Ben Bernanke
Chairman of the Council of Economic Advisers
In office
September 4, 1974 – January 20, 1977
President Gerald Ford
Preceded by Herbert Stein
Succeeded by Charles Schultze
Personal details
Born (1926-03-06) March 6, 1926 (age 90)
New York City, New York, U.S.
Political party Republican
Spouse(s) Joan Mitchell (1952–1953)
Andrea Mitchell (1997–present)
Education Juilliard School
New York University (BA, MA, PhD)
Columbia University

Alan Greenspan KBE (/ˈæln ˈɡrnspæn/; born March 6, 1926) is an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006. He currently works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC. First appointed Federal Reserve chairman by President Ronald Reagan in August 1987, he was reappointed at successive four-year intervals until retiring on January 31, 2006, after the second-longest tenure in the position (behind William McChesney Martin).

Greenspan came to the Federal Reserve Board from a consulting career. Although he was subdued in his public appearances, favorable media coverage raised his profile to a point that several observers likened him to a "rock star". Democratic leaders of Congress criticized him for politicizing his office because of his support for Social Security privatization and tax cuts, which they felt would increase the deficit.

The easy-money policies of the Fed during Greenspan's tenure have been suggested by some to be a leading cause of the dotcom bubble and subprime mortgage crisis, which occurred within a year of his departure from the Fed, and have, said the Wall Street Journal, "tarnished his reputation."Yale economist Robert Shiller argues that "once stocks fell, real estate became the primary outlet for the speculative frenzy that the stock market had unleashed".


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Wikipedia

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