Alan Greenspan, who served as Fed chairman for 20 years from 1987 to 2006, passed away at the age of 100 due to complications from Parkinson's disease. The New York Times ran an article titled "Alan Greenspan, Architect of Modern American Economy, Dies at 100 - He was a master economic policymaker and skilled political operator of his time, and later favored a market-friendly stance that would become associated with destructive financial forces." BBC announced the news with the headline 'Alan Greenspan, Architect of Modern American Economy, Dies at 100'. He continued to be reappointed for five terms until 2006, even as Republican (Reagan, Bush) and Democratic (Clinton) administrations changed. His name often appeared on TV, making him perhaps the most widely known Fed chairman. I remember many good reputations for his contributions to financial market stability and inflation suppression, but there are also criticisms that excessive low-interest rate policies led to the dot-com bubble and the 2008 financial crisis.
Interestingly, Alan Greenspan was a Juilliard graduate and played saxophone in a swing band for several years. He enjoyed reading books borrowed from the library during breaks between performances. One day, he read an economics book and was captivated, deciding to switch careers. He enrolled at New York University to study economics and later became a member of the JP Morgan board of directors. May his soul rest in peace.
It seems that the news hasn't been posted on Damoa, so I'll briefly summarize it.
