Alan Greenspan

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Alan Greenspan

Alan Greenspan (born March 6, 1926) is an American economist who served as the 13th chairman of the Federal Reserve from 1987 to 2006. He worked as a private adviser and provided consulting for firms through his company, Greenspan Associates LLC. First nominated to the Federal Reserve by President Ronald Reagan in August 1987, Greenspan was reappointed at successive four-year intervals until retiring on January 31, 2006, after the second-longest tenure in the position, behind only William McChesney Martin. President George W. Bush appointed Ben Bernanke as his successor. Greenspan came to the Federal Reserve Board from a consulting career. Although he was subdued in his public appearances, favorable media coverage raised his profile to a point that several observers likened him to a "rock star". Democratic leaders of Congress criticized him for politicizing his office because of his support for Social Security privatization and tax cuts. Many have argued that the "easy-money" policies of the Fed during Greenspan's tenure, including the practice known as the "Greenspan put", were a leading cause of the dot-com bubble and subprime mortgage crisis (the latter occurring within a year of his leaving the Fed), which, said The Wall Street Journal, "tarnished his reputation". Yale economist Robert Shiller argues that "once stocks fell, real estate became the primary outlet for the speculative frenzy that the stock market had unleashed". Greenspan has argued that the housing bubble was not a result of low-interest short-term rates but rather a worldwide phenomenon caused by the progressive decline in long-term interest rates – a direct consequence of the relationship between high savings rates in the developing world and its inverse in the developed world.

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• Alan Greenspan - Wikipedia

  From 1955 to 1987, Greenspan was chairman and president of Townsend-Greenspan & Co., Inc., an economics consulting firm in New York City. His 32-year stint there was interrupted only from 1974 to 1977, when he served as chairman of the Council of Economic Advisers, under President Gerald Ford. [...] Greenspan, and consulted him on economic matters. Greenspan lent support to Clinton's 1993 deficit reduction program. Greenspan was fundamentally a monetarist and Austrian Economist in orientation on the economy, and his monetary policy decisions largely followed standard Taylor rule prescriptions (see Taylor 1993 and 1999). Greenspan also played a key role in organizing the U.S. bailout of Mexico during the 1994–1995 Mexican peso crisis. [...] On June 2, 1987, President Ronald Reagan nominated Greenspan as a successor to Paul Volcker, as chairman of the Board of Governors of the Federal Reserve, and the Senate confirmed him on August 11, 1987. Investor, author and commentator Jim Rogers has said that Greenspan lobbied to get this chairmanship.

• The Age of Turbulence: Adventures in a New World - Amazon.com

  Alan Greenspan was born in 1926 and reared in the Washington Heights neighborhood of New York City. After studying the clarinet at Juilliard and working as a professional musician, he earned his B.A., M.A., and Ph.D. in economics from New York University. From 1974 to 1977, he served as chair of the Council of Economic Advisers under President Ford. In 1987, President Reagan appointed him chairman of the Federal Reserve Board, a position he held until his retirement in 2006. He is the author of [...] Alan Greenspan was born in 1926 and reared in the Washington Heights neighborhood of New York City. After studying the clarinet at Juilliard and working as a professional musician, he earned his B.A., M.A. and Ph.D. in economics from New York University. In 1954, he cofounded the economic consulting firm Townsend-Greenspan & Co. From 1974 to 1977, he served as chair of the Council of Economic Advisors under President Gerald Ford. In 1987, President Ronald Reagan appointed him chairman of the [...] "Alan Greenspan is a spectacular writer - he makes very difficult situations politically easy to understand because of his simple conversational..." Read more "...extremely interesting, digestible, and enlightening book that was well written and entertaining...." Read more "...Greenspan writes with a keen and biting wit. He writes with a deep interest and concern for this country and its people...." Read more | | | | Your recently viewed items and featured recommendations ›

• Alan Greenspan

  Home > People > Alan Greenspan # Alan Greenspan Chairman, Board of Governors, 1987 – 2006 Alan Greenspan served five terms as chairman of the Board of Governors of the Federal Reserve System. He originally took office as chairman on August 11, 1987, to fill an unexpired term as a member of the Board of Governors. His last term ended on January 31, 2006. He was appointed chairman by four different presidents. [...] Greenspan was born in New York City. He received his bachelor's (summa cum laude), master's, and doctoral degrees in economics, all from New York University. Before receiving his doctorate, he studied economics at Columbia University in the early 1950s under Arthur Burns, who would later become chairman of the Board of Governors. [...] 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. From 1954 to 1974 and from 1977 to 1987, Greenspan was chairman and president of Townsend-Greenspan & Co., Inc., an economic consulting firm in New York City. From 1974 to 1977, he served as chairman of the President's Council of Economic Advisers under President Gerald Ford, and from 1981 to 1983, as chairman of the National

• The Man Who Knew | Council on Foreign Relations

  Former Chairman of the Federal Reserve Alan Greenspan was once hailed as the omnipotent “maestro” of the U.S. economy, but his reputation suffered in the aftermath of the 2008 financial crisis. In The Man Who Knew: The Life and Times of Alan Greenspan, a new biography based on five years of research and unmatched access to Greenspan, Sebastian Mallaby presents a nuanced assessment of one of the most influential economic statesmen of the twentieth century and issues a warning about the future of [...] > Admire him or despise him, Alan Greenspan was the preeminent financial statesman of the postwar era. But Sebastian Mallaby's magisterial biography casts him as something more (and more intriguing) than that: a masterly and mesmerizing politician. Whether counseling Richard Nixon on the race-freighted Southern strategy, scheming with Watergate felon Charles Colson on a plan to neuter the Federal Reserve's independence, or waging bureaucratic war against Henry Kissinger (and winning!), [...] > The Man Who Knew is much more than an enjoyable and well-researched biography of Alan Greenspan, chairman of the U.S. Federal Reserve for 18 years and a regular fixture by the side of every U.S. president from Richard Nixon until George W. Bush. In addition to describing the life of an accomplished human being full of both brilliance and paradoxes, it provides compelling insights into the politics of complex decision-making, especially under uncertainty, as well as the role of personalities

• The Man Who Knew: The Life and Times of Alan Greenspan

  “Admire him or despise him, Alan Greenspan was the preeminent financial statesman of the post-war era. But Sebastian Mallaby’s magisterial biography casts him as something more (and more intriguing) than that: a masterly and mesmerizing politician. Whether counseling Richard Nixon on the race-freighted Southern strategy, scheming with Watergate felon Charles Colson on a plan to neuter the Federal Reserve’s independence, or waging bureaucratic war against Henry Kissinger (and winning!), [...] By focusing primarily on Alan Greenspan, the longest serving Fed Chairman, the economics, finance, and Fed decision process is both broadly explicated and (interestingly) humanized—a tough job in economics. Mallaby does this by employing and combining aspects of Greenspan's childhood development, family relationships (including possible psychological impacts) and work background. This includes his desire to become a musician; he played the sax and clarinet professionally for Henry Jerome and [...] “In a superb new book, the product of more than five years’ research, Sebastian Mallaby helps history make up its mind about Alan Greenspan, the man hailed in 2000 by Phil Gramm, a former senator, as ‘the best central banker we have ever had,’ but now blamed for the financial crisis of 2007-08.” —The Economist