Economist and former Fed chair Alan Greenspan dies aged 100

“He had “irrational exuberance” for baseball, the Washington Commanders, tennis, golf and music, especially jazz.

“He will be remembered for his brilliance and his kindness. Being his life partner was the joy of my life.”

Greenspan, who was born in New York in March 1926 to Jewish parents of Romanian and Hungarian descent, was best known as the chairman of the Federal Reserve.

He held the post from 1987 to 2006, guiding the world’s most significant central bank from the end of the Cold War into the digital age.

He served under the presidencies of Ronald Reagan, George HW Bush, Bill Clinton, and George W Bush.

Throughout this period, he was responsible for safeguarding the resilience of the dollar and supporting the growth of the US economy.

He also faced criticism for overseeing a relaxed approach to credit, which some economists suggest led to the Dot Com Bubble in the 1990s and contributed to the sub-prime mortgage crisis linked to the 2008 financial crash.

Greenspan, who had spent three decades running an economic consultancy prior to his role at the Fed, spent his later years writing books and appearing as a commentator for US news programmes.

The Federal Reserve said in a statement: “Under his leadership, the Federal Reserve achieved a sustained era of price stability that supported economic growth and helped anchor the public’s confidence in the institution.

“Chairman Greenspan’s legacy endures at the Federal Reserve in those he mentored directly, in the economists and public servants he inspired, and in the frameworks and practices he helped shape.

“The Federal Reserve extends its deepest condolences to his wife, Andrea Mitchell, and to his family.”