A major figure in the American central bank, Alan Greenspan died on Monday June 22 at the age of 100, leaving a mixed legacy.
Alan Greenspan, head of the Federal Reserve from 1987 to 2006, died this Monday, June 22 at the age of 100, from Parkinson’s disease, announced his wife, NBC News journalist Andrea Mitchell. Its disappearance marks the end of an era for the central bank of the United States, the institution responsible for the country’s monetary policy.
Born in New York in 1926 to a Jewish family, Alan Greenspan almost became a professional jazz saxophonist and clarinetist. He finally immersed himself in studies at the Stern School of Business, then at Columbia and became an economist. By founding Townsend-Greenspan & Co., he established his reputation as an economic consultant, attracting attention from Richard Nixon’s campaign in 1968.
Two decades at the head of the Fed
Alan Greenspan led the US Federal Reserve (Fed) from 1987 to 2006, consolidating the independence of the US central bank. Nicknamed the “Oracle” or the “Maestro”, he could have entered the legend as the best central banker in the history of the United States.
However, he was criticized for not having anticipated the subprime crisis of 2007. This criticism tarnished the reputation of the man who, without it, could have been unanimously recognized as the best central banker in the history of the United States.
