Alan Greenspan
Alan Greenspan is a notable economist best known as the former Chairman of the Federal Reserve of the United States. He served five terms as Chairman, from 1987 to 2006, and was appointed by four different presidents over the course of his tenure. Once hailed as the omnipotent "maestro" of the U.S. economy, he led the U.S. central bank for almost two decades, guiding the U.S. economy through the 1987 stock market crash and presiding over a period of booming growth in the 1990s up until the global financial crisis. Greenspan stepped down from his post in 2006 and was succeeded by former Princeton University economics chair, Ben Bernanke. He later published his memoir, The Age of Turbulence, and began his own consulting firm, Greenspan Associates.
Alan Greenspan Professional Experience / Academic History
Professional Experience
-
Chairman of the Federal Reserve of the United States
Academic History
-
Ph.D., Economics
-
M.A., Economics
-
B.A., Economics, Summa Cum Laude
THE FED
During his tenure he also led the Federal Reserve through several events with major economic repercussions, including two US recessions, the Asian financial crisis of 1997, and the September 11, 2001, terrorist attacks.
He was known for being strongly anti-inflation, and tended to focus more on controlling prices than on promoting full employment.
He was also known for his skill at building consensus among members of the Federal Open Market Committee, the Fed’s principal monetary policymaking committee that makes decisions on interest rates and managing the U.S. money supply
Many critics and economists blame Greenspan for not doing enough to prevent the 2008 financial crisis and have accused him of keeping interest rates too low for too long.
EARLY CAREER
Greenspan’s first job, in 1948, was with the National Industrial Conference Board, a nonprofit organization where he analyzed demand for steel, aluminum and copper.
He later co-founded the economic consulting firm Townsend-Greenspan & Company.
He served as Chair of the Council of Economic Advisors under President Gerald Ford.