Alan Greenspan, the longtime chairman of the U.S. Federal Reserve who helped guide the world's largest economy through nearly two decades of growth, has died at the age of 100.
Greenspan died Monday from complications related to Parkinson's disease, according to a statement from his wife, Andrea Mitchell.
"Alan passed away at our home this morning at the age of 100 from complications of Parkinson's disease," Mitchell said. "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," she said.
"To me he was my husband, who shaped my life from our very first date in 1984. He had 'irrational exuberance' for baseball, the Washington Commanders, tennis, golf and music, especially jazz," Mitchell added. "He will be remembered for his brilliance and his kindness. Being his life partner was the joy of my life."
Appointed Federal Reserve chairman by President Ronald Reagan in 1987, Greenspan served until 2006 and was reappointed by four presidents from both political parties. During his tenure, he oversaw one of the longest periods of economic expansion in U.S. history and became known for his influence on financial markets and monetary policy.
Greenspan was widely credited for helping stabilize markets during events such as the 1987 stock market crash, the Gulf War, and various global financial disruptions. He also became famous for coining the term "irrational exuberance" in a 1996 speech warning about inflated asset values.
Greenspan, however, later faced criticism from some economists who argued that his support for financial deregulation and accommodative monetary policies contributed to conditions that led to the 2008 financial crisis.
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