Alan Greenspan, who served as Chairman of the US Federal Reserve from 1987 to 2006, has died at the age of 100. His family confirmed the passing of the legendary central banker on June 22.

Born in New York in 1926, Greenspan served as Fed Chairman for nearly 19 years, the second-longest tenure in the institution’s history. He was widely known as the “maestro” of the global economy, and his monetary policy decisions profoundly shaped modern financial markets.

During his tenure, the US experienced two extended periods of economic prosperity: the information technology boom of the 1990s and the early 2000s housing expansion. He was known for his pragmatic approach, decisively cutting rates during market crises to stabilize the economy.

However, Greenspan’s legacy remains controversial. Critics argue his prolonged low-rate policies fueled asset bubbles, particularly the early 2000s housing bubble that contributed to the 2008 global financial crisis. Greenspan himself acknowledged in 2008 congressional testimony that his “ideology” regarding free markets had developed a “flaw.”

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