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Alan Greenspan, the Federal Reserve chairman proclaimed a wizard for guiding a then-record US economic expansion, only to see his luster dimmed by the financial crisis that erupted less than two years after he stepped down, has died. He was 100.
He died on Monday at his home in Washington, according to a statement by his wife, Andrea Mitchell, chief Washington correspondent for NBC News. The cause was complications of Parkinson’s disease.
Greenspan’s 18 years as Fed chief, from 1987 until his retirement at the start of 2006, were marked by a stock market boom and low unemployment. More so than the four presidents he served under or the seven Treasury secretaries he worked alongside, Greenspan was seen as the maestro who kept the economy humming.
In a statement on Monday, the Fed said, “Chairman Greenspan’s legacy endures at the Federal Reserve — in those he mentored directly, in the economists and public servants he inspired, and in the frameworks and practices he helped shape.”
On this episode, Carol Massar Tim Stenovec speak with:
Betsy Duke, Former Federal Reserve Governor, Former Wells Fargo Chair, Former American Bankers Association Chair on Alan Greenspan legacy
Jim Caron, Portfolio Solutions Group CIO at Morgan Stanley Investment Management on Fed, Greenspan, US vs ROW equities, rates, credit, macro and 2H outlook
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