Alan Greenspan on the economy, trade and capitalism and socialism
Alan Greenspan, former chair of the board of the governors of the Federal Reserve System, died on Monday at the age of 100 years old, according to a statement from his wife Andrea Mitchell, NBC News chief Washington correspondent and chief foreign affairs correspondent.
”Alan passed away at our home this morning at the age of 100 from complications of Parkinson’s Disease,” Mitchell said in the statement obtained by Fox Business Network.
“He was a giant of a man who helped shape the U.S. economy for decades under presidents of both parties, but was always honest in acknowledging his mistakes,” she continued. “To me he was my husband, who shaped my life from our very first date in 1984. “
Former Chairman of the Federal Reserve Alan Greenspan, Andrea Mitchell and Morgan Freeman attend the AFI 50th Anniversary Gala at The Library of Congress on Nov. 1, 2017 in Washington, D.C. (Nicholas Hunt/Getty Images for American Film Institute / Getty Images)
Supreme Court Justice Ruth Bader Ginsberg officiated the couple’s wedding in April 1997.
“He had ‘irrational exuberance’ for baseball, the Washington Commanders, tennis, golf and music, especially jazz. He will be remembered for his brilliance and his kindness,” Mitchell noted in the statement. “Being his life partner was the joy of my life.”
FEDERAL RESERVE LEAVES INTEREST RATES UNCHANGED AS WARSH ERA BEGINS
Alan Greenspan Visits “The Daily Briefing” at Fox News Channel Studios on October 17, 2018 in New York City. ( Steven Ferdman/Getty Images / Getty Images)
Greenspan served as Fed chair for more than 18 years.
In 1987, President Ronald Reagan was the first president to nominate him to serve in the Fed chair role.
ALAN GREENSPAN WARNS ON RISING BUDGET DEFICITS: ‘WE NEED VERY SIGNIFICANT CHANGES’
Alan Greenspan on socialism vs. capitalism
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The Federal Reserve issued a statement on Greenspan’s death Monday morning.
“The Federal Reserve notes with deep sadness the passing of Alan Greenspan. Chairman Greenspan served as the 13th Chairman of the Board of Governors from 1987 to 2006, and his contributions to monetary policy and economic thought left a lasting mark on this institution, on the broader field of economics, and on the country,” the statement said. “During his 18 years as Chairman, he guided the Federal Reserve through periods of significant economic expansion as well as periods of considerable stress. 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 Federal Reserve’s statement went on to note that Greeenspan “brought rigorous analytical discipline to monetary policymaking and helped establish the credibility that remains one of the Federal Reserve’s most important assets.”
“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,” the statement continued. “The Federal Reserve extends its deepest condolences to his wife, Andrea Mitchell, and to his family.”
Fox Business Network’s Edward Lawrence contributed to this report
