Alan Greenspan, the former chairman of the U.S. Federal Reserve who popularized the term 'irrational exuberance', died last week at the age of 100, Philstar Biz reported. His death marks the end of an era for global monetary policy.
Greenspan served as Fed chair from 1987 to 2006, overseeing periods of economic expansion, the dot-com boom, and the aftermath of the 9/11 attacks. He famously warned in 1996 about 'irrational exuberance' in asset prices, a phrase that later defined his legacy.
Despite his reputation as the 'maestro' of the economy, Greenspan's policies were later scrutinized for contributing to the 2008 financial crisis. His death at 100 closes a chapter in central banking history that shaped modern financial regulation.