Alan Greenspan, the towering figure who shaped American monetary policy for nearly two decades, passed away Monday at his home in Washington. He was 100.
The cause was complications from Parkinson’s disease, his wife, Andrea Mitchell, NBC News’ chief Washington correspondent, confirmed in a statement. “Alan passed away at our home this morning at the age of 100,” 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.”
Greenspan served five terms as chairman of the Federal Reserve, guiding the nation’s central bank through boom times, a stock market crash, and the dot-com bubble. Appointed by President Ronald Reagan in 1987, he remained at the helm under George H.W. Bush, Bill Clinton, and George W. Bush, becoming synonymous with the Fed itself.
His legacy is a study in contrasts. He was hailed as a maestro for his deft handling of inflation and economic growth in the 1990s. Yet he later drew sharp criticism for his role in the policies that preceded the 2008 financial crisis, a misstep he publicly acknowledged. “He was always honest in acknowledging his mistakes,” Mitchell noted.
Mitchell, who shared her life with Greenspan since their first date in 1984, painted a private portrait of a man far different from the cautious public figure. “He had ‘irrational exuberance’ for baseball, the Washington Commanders, tennis, golf and music, especially jazz,” she said. “He will be remembered for his brilliance and his kindness. Being his life partner was the joy of my life.”
Greenspan’s death closes a chapter on a singular career that left an indelible mark on the global economy.
