Former Federal Reserve Chairman Alan Greenspan has died, ABC News reported. According to the network, his wife, Andrea Mitchell, said that he passed away due to complications from Parkinson's disease. Greenspan was 100 years old, closing a life that spanned much of the modern history of American economic policy.
In a statement announcing his death, Mitchell paid tribute to him, describing him as a giant of a man who helped shape the U.S. economy for decades under presidents of both parties. She added that, throughout his career, he was always honest in acknowledging his mistakes, a quality she highlighted in remembering him.
Greenspan led the Federal Reserve from 1987 to 2006, a tenure that placed him at the center of American economic decision-making for nearly two decades. Across that long period, he served under multiple administrations, becoming one of the most recognizable figures in the world of central banking.
For much of his time in charge, Greenspan was once regarded as a financial wizard, a reputation built on his stewardship of the economy and his influence over monetary policy. His words and decisions were closely watched by markets, and he came to symbolize a particular era of confidence in the management of the U.S. economy.
That reputation, however, was later challenged. Many came to blame his policies for the 2008 subprime mortgage crisis, the financial collapse that shook the global economy. The crisis cast a long shadow over how his record at the Federal Reserve would ultimately be judged.
Greenspan himself admitted to making mistakes, but he also argued that Congress deserved part of the blame for what unfolded. That mix of acknowledgement and pushback reflected the complicated legacy of a central banker who was praised and criticized in equal measure, and whose decisions continued to be debated long after he left office. He died at the age of 100.