Former Chairman of the U.S. Federal Reserve Alan Greenspan passed away on the 22nd at the age of 100.
On the 22nd, NBC News quoted a statement from Greenspan's wife, reporting that Greenspan died at home that morning due to complications from Parkinson's disease.
Born in 1926, Greenspan earned bachelor's, master's, and doctoral degrees in economics from New York University. In the 1970s, he served as the president's economic advisor during the Ford administration. In 1987, he was appointed as Chairman of the Federal Reserve by President Reagan, and was later reappointed under Presidents George H. W. Bush, Clinton, and George W. Bush, until he stepped down in 2006.
Greenspan was once regarded as the model for U.S. monetary policymakers. During his tenure, he led the Federal Reserve through a series of major crises, including the New York stock market crash, the Asian financial crisis, and the bursting of the tech bubble. Under his leadership, the U.S. experienced a decade-long period of economic expansion.
However, following the outbreak of the 2008 financial crisis and the severe recession in the U.S. economy, Greenspan's "legend" came under increasing scrutiny. Critics mainly attributed the crisis to Greenspan's loose monetary policy and inadequate regulation of financial markets.