MANHATTAN — FORMER FEDERAL RESERVE CHAIR ALAN GREENSPAN died on Monday at 100.
Born and raised in New York City, he aspired to a musical career and attended Juilliard briefly before switching to economics. He earned his undergraduate, master’s and doctoral degrees from New York University. Then-President Ronald Reagan in 1987 tapped Greenspan as his appointee for the Federal Reserve chairmanship.
Two months after Greenspan took office, the Black Monday stock market plunge of Oct. 19, 1987, tested his leadership. He gained respect for being able to stabilize the market and usher in a period of prosperity and keeping inflation low. He served four Presidential administrations, including Ronald Reagan, both George Bushes and Bill Clinton. Greenspan was credited with bolstering the nation’s economy, but was later blamed for actions that led to the 2008 financial crisis.
During his time at Juilliard, Greenspan had the opportunity to play clarinet and saxophone with legendary jazz artist Stan Getz.
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