Alan Greenspan, the former chairman of the Federal Reserve who served for 19 years under four US presidents, has died at the age of 100.
The influential economist passed away on Monday, marking the end of an era for one of the most powerful figures in modern financial history.
Greenspan’s tenure, which spanned from 1987 to 2006, fundamentally reshaped the landscape of US monetary policy.
He is widely credited with coining the term 'Greenspeak' to describe the Fed’s use of language to guide market expectations, a practice that remains central to central bank communication today.
His legacy is also defined by the 'Greenspan put,' a market belief that the Fed would intervene to support asset prices during downturns, a concept that influenced investor behavior for decades.
While Greenspan was celebrated for navigating the economy through the 1987 stock market crash and the dot-com bubble, his later years were scrutinized for the Fed’s role in the 2008 financial crisis.