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 (īn), 1905–82, American writer, b. St. Petersburg, Russia.
..... 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.
..... Click the link for more information. , replacing Paul Volcker Volcker, Paul Adolph, 1927–, American economist, government official, and banker, b. Cape May, N.J. After working as an under secretary in the Treasury Department (1969–74) and as president of the New York Federal Reserve Bank (1975–79), he was
..... Click the link for more information. . Reappointed by Presidents George H. W. Bush, Bill Clinton, and George W. Bush, he served in the office for nearly two decades. As Federal Reserve chairman, he earlier emphasized controlling inflation over promoting economic growth, but by 2003 a prolonged economic slowdown had shifted concern to possible deflation. During the 10-year expansion that began in 1991, Greenspan won widespread praise for what was regarded as the deft manipulation of interest rates, but the cutting of rates to historic lows during the 2001–3 slowdown only gradually produced the desired growth. A side effect, however, of the historically low interest rates was a significant increase in housing prices (in some parts of the country) and consumer indebtedness.

Bibliography

See 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.

Greenspan, Alan (redirected from Alan Greenspan)

Bibliography

Greenspan, Alan

Greenspan, Alan
(redirected from Alan Greenspan)