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Greenspan, Alan |
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Greenspan, Alan, 1926–, American economist, chairman of the Federal Reserve Board (1987–2006), b. New York City. Influenced by the philosophy of Ayn Rand Rand, Ayn , 1905–82, American writer, b. St. Petersburg, Russia. She came to the United States in 1926 and worked for many years as a screenwriter. Her novels are romantic and dramatic, and they espouse a philosophy of rational self-interest that opposes the
..... Click the link for more information. , Greenspan is a strong supporter of the free market and an opponent of government intervention in the economy. He was private economic consultant (1954–74, 1977–87) and served (1974–77) as chairman of the Council of Economic Advisers during the administration of President Gerald Ford Ford, Gerald Rudolph, 1913–2006, 38th president of the United States (1974–77), b. Omaha, Nebr. He was originally named Leslie Lynch King, Jr., but his parents were divorced when he was two, and when his mother remarried he assumed the name of his ..... Click the link for more information. . From 1981 to 1983 he also chaired the bipartisan National Commission on Social Security Reform, which restructured the financing of the U.S. social security system to help assure its solvency. In 1987 President Ronald Reagan appointed him chairman of the Federal Reserve System Federal Reserve System, central banking system of the United States. Established in 1913, it began to operate in Nov., 1914. Its setup, although somewhat altered since its establishment, particularly by the Banking Act of 1935, has remained substantially the same. BibliographySee D. B. Sicilia and J. L. Cruikshank, The Greenspan Effect (1999); J. Martin, Greenspan: The Man behind Money (2000); B. Woodward, Maestro: Greenspan's Fed and the American Boom (2000). Greenspan, Alan(born March 6, 1926, New York, N.Y., U.S.) U.S. economist and chairman of the board of the Federal Reserve System from August 1987 to January 2006. He received a doctorate from New York University in 1977. Having become a private economic consultant, Greenspan served as chairman of the president's Council of Economic Advisers under Pres. Gerald Ford. From 1981 to 1983 he chaired the bipartisan National Commission on Social Security Reform. In 1987 Pres. Ronald Reagan appointed him chairman of the Federal Reserve Board, a position he continued to hold under Presidents George Bush, Bill Clinton, and George W. Bush. As Federal Reserve chairman, he became known for his decisive use of monetary policy in steering the economy between the hazards of inflation and recession. Greenspan, Alan (1926– ) economist, government official; born in New York City. His firm, Townsend-Greenspan (1953–87), provided economic forecasts to corporations. He chaired the National Commission on Social Security Reform (1981–83), saving that system from bankruptcy. Chairman of the Federal Reserve Board (1987), he fought inflation with a tight money policy, keeping the federal discount rate high. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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