Staff Reports
Alan Greenspan, the man who steered the Federal Reserve for almost two decades and helped shape America’s late‑20th century boom, has died. He was 100. His death is a moment for both sober tribute and a clear-eyed look at what worked — and what didn’t — under his watch.
Alan Greenspan’s death and immediate reactions
Greenspan died on June 22, 2026, from complications of Parkinson’s disease, his wife, NBC News correspondent Andrea Mitchell, said. Mitchell called him “a giant of a man” who “will be remembered for his brilliance and his kindness.” The Federal Reserve also issued a statement praising his role in cementing public trust and helping sustain price stability during a long expansion. That kind of bipartisan respect tells you he mattered — whether you agreed with every choice he made or not.
The record: the 1990s boom and the “Great Moderation”
From Reagan nominee to a two‑decade run
President Ronald Reagan picked Greenspan in 1987, and he stayed through 2006 under presidents of both parties. Under his leadership the country enjoyed what economists call the “Great Moderation” — low inflation, steady growth, and a tech‑driven productivity surge in the 1990s. He even coined the unforgettable phrase “irrational exuberance” to warn about froth in markets. Conservatives who care about growth should give him credit for an era when America led the world in jobs, innovation, and rising living standards.
The controversy: deregulation, low rates, and the later fallout
Greenspan’s legacy is not spotless. His faith in self‑regulation and long stretches of low interest rates are widely blamed for building asset bubbles that burst in the 2007–2009 crisis. He later told Congress he was “shocked” that markets behaved the way they did. That admission matters. Praise for growth doesn’t erase responsibility for errors that hurt millions. The sensible takeaway is to learn from both success and failure, not to sanitize one side of the ledger.
Lesson for President Donald Trump, Federal Reserve Chair Kevin Warsh, and today’s policy
As officials and markets react, the debate should focus on practical lessons: prioritize price stability, encourage real productivity gains, and don’t confuse low rates or deregulation with sustainable prosperity. President Donald Trump and Federal Reserve Chair Kevin Warsh would do well to study Greenspan’s playbook — and his blind spots. We can honor his life by keeping what worked and fixing what didn’t, rather than worshipping a perfect blueprint that never existed. That’s how real policy progress gets made.
