Alan Greenspan Dies

Alan Greenspan died on June 22, 2026, at age 100. The Federal Reserve said in a press release that he presided over long U.S. economic expansions and a 1990s stock-market boom while leaving a contested legacy on deregulatory policy.

His wife, Andrea Mitchell, said he died at their Washington home from complications of Parkinson’s disease.

Federal Reserve Statement

The Federal Reserve issued a press release titled “Federal Reserve notes with deep sadness the passing of Alan Greenspan” at 8:45 a.m. EDT. It identified him as the 13th chairman of the Board of Governors, serving from 1987 to 2006. The statement said he guided the central bank through periods of significant economic expansion and stress. It added, “Under his leadership, the Federal Reserve achieved a sustained era of price stability that supported economic growth and helped anchor the public’s confidence in the institution.” The release was commemorative and contained no monetary-policy guidance.

Tenure and Market Legacy

Appointed by President Ronald Reagan, Greenspan served five consecutive four-year terms under four presidents, making him the second-longest-serving Fed chair after William McChesney Martin. He was widely regarded as a towering figure in late-20th-century U.S. monetary policy and earned nicknames such as “the Maestro” and “the Oracle.” He was succeeded by Ben Bernanke.

Early in his tenure, Greenspan managed the Federal Reserve’s response to the October 1987 stock-market crash. He also oversaw policy through the early-1990s recession and the subsequent recovery. His chairmanship spanned the 1991–2001 economic expansion, often called the Great Moderation, a period of relatively stable growth and low inflation. He is widely remembered for his December 5, 1996, reference to “irrational exuberance” in asset prices.

Greenspan strongly supported pro-market, deregulatory policies, including financial deregulation. Critics later linked aspects of his stance—particularly on derivatives oversight and housing finance—to conditions that contributed to the 2008 financial crisis. He acknowledged mistakes in his public statements later in life.

After leaving the Fed in January 2006, Greenspan founded Greenspan Associates, advising financial firms and remaining an active commentator on economic issues. Born March 6, 1926, in New York City, he studied economics at New York University and earned a doctorate. He was married to Andrea Mitchell for about 29 years and is survived by her.

Media coverage following his death highlighted his role in establishing central-bank credibility and low inflation, alongside ongoing debate over whether his policies contributed to later financial excesses.