Former U.S. Fed Chair Alan Greenspan Passes Away
Alan Greenspan has passed away. We take a look at the 19-year economic legacy of the former Fed chair. From inflation control to financial crisis controversies, quickly check the key issues.
Former U.S. Federal Reserve Chairman Alan Greenspan died at the age of 100 on the 22nd (local time). His family said he passed away at home from complications of Parkinson's disease.
Former Chairman Greenspan served as Fed chairman from 1987 to 2006, having a major influence on U.S. economic policy. During his tenure, he went through major events such as the Asian currency crisis, Russia's default, the dotcom bubble, and the 9/11 terrorist attacks, and focused on curbing inflation.
He has been regarded as the man who led a period of prosperity in the U.S. economy, but he has also faced criticism that his low interest rate policies later became the backdrop for the subprime mortgage crisis and the 2008 financial crisis.