UK Accounting Glossary
Alan Greenspan is an American economist and was Chairman of the Federal Reserve of the United States from 1987 to 2006. He presently works as a private advisor through his own company, Greenspan Associates LLC.
Alan Greenspan is a former Chairman of the United States Federal Reserve (the Fed).
Alan Greenspan was born on 6th March 1926 in New York, New York. He attained a B.S in Economics (summa cum laude) from New York University in 1948. Greenspan achieved an M.A in economics from the same university in 1950. New York University granted him a PhD in economics in 1977. The university also awarded him an honorary Doctor of Commercial Science in 2005.
In 1987, Alan Greenspan was appointed as Fed chairman by President Ronald Reagan. Alan Greenspan was reappointed consecutively, holding four-year terms until retiring on January 31, 2006. On that day, Alan Greenspan relinquished the position to Ben Bernanke. As chairman, Alan Greenspan held the reigns of the economy during the crash of 1987, the recession of the early 1990s, the dot-com bubble and also the 2001 terrorist attacks. During his tenure, Alan Greenspan was considered by many to be the leading authority on the domestic economy and monetary policy. The public comments made by Alan Greenspan were very influential and could move financial markets. Between 1955 and 1987, Alan Greenspan was the Chairman and President of Townsend-Greenspan, an economic consulting firm. After his retirement, Alan Greenspan accepted an honorary position with the United Kingdom’s HM Treasury.
Alan Greenspan was known for his obsession with controlling inflation. His critics have often accused him of trying to control prices more than striving to achieve high employment. Greenspan’s speeches were particularly known for their technical jargon and careful wording.
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This glossary post was last updated: 4th February 2020.