Alan Greenspan is dead: Fed chair dies at 100 from complications of Parkinson's disease

As the Washington Post reported, citing Greenspan's wife, the economist died from complications of his Parkinson's disease. The family announced the death on Monday, the report added. During his five terms, the central bank chief repeatedly and deliberately avoided making concrete commitments. His communication also had a major influence on financial markets. Greenspan helped shape modern American capitalism from the final years of the Cold War to the dawn of the digital age.

Greenspan led the central bank during one of the longest economic expansions in US history, a boom that lasted from 1991 to 2001. Under his leadership, the Federal Reserve also navigated the bursting of the dot-com bubble and the immediate aftermath of the September 11, 2001 terrorist attacks. During this period, he was regarded as one of the most influential figures in international financial policy.

Defending central bank independence

Greenspan's most important achievement is considered to be his defense of central bank independence. In the early 1990s, he resisted pressure from President George H. W. Bush to lower interest rates. This move cemented his reputation as someone who shielded monetary policy decisions from political interference.

Criticism after the 2007 financial crisis

Greenspan was a proponent of financial sector deregulation. After his departure, Greenspan faced criticism over the financial crisis that began in 2007. Opponents accused him of having fostered speculative bubbles through a long period of low interest rates. He later acknowledged misjudgments.

The legendary "Fedspeak"

The legendary central banker repeatedly and deliberately avoided making concrete commitments during his long tenure. With his often seemingly cryptic communication, he developed a style all his own at the Federal Reserve, known by the term "Fedspeak." This kind of deliberate obfuscation of intentions was also described as the "art of obfuscation."

From music student to central bank chief

Greenspan was born in 1926, making him 100 years old at the time of his death. After studying music, he switched to economics and made a name for himself as an economic adviser. In 1974, he took over as chairman of the Council of Economic Advisers.

Before his time at the helm of the central bank, Greenspan built a reputation as an influential economic policy adviser. He advised several Republican presidents and was regarded as someone who could translate complex economic interrelationships into clear recommendations for action. This reputation paved his way to the top of the world's most powerful central bank.

Greenspan's tenure lasted roughly 19 years in total, making him one of the longest-serving Fed chairs in history. During this time, the US economy experienced phases of significant upheaval: from the end of the Cold War, through the globalization of financial markets, to the rise of the digital economy. The US Federal Reserve is described as the world's most influential central bank.

Reactions and spread of the news

The news of Greenspan's death was first reported by NBC News on Monday and later picked up by Reuters on June 22, 2026, as well as on the Deutschlandfunk program on 22.06.2026. The report was also distributed by the dpa-AFX news agency, according to the report disseminated from Washington.

The Federal Reserve stated that Greenspan's "contributions to monetary policy and to economic theory have left a lasting mark on this institution, the economics profession more broadly, and the country." With these words, the central bank honored one of its most defining chairmen.

Greenspan's economic policy convictions, in particular his advocacy of free markets and a hands-off approach to financial sector regulation, influenced not only monetary policy but also the political debate in the US for decades. His appearances before Congress were considered events in their own right, at which his choice of words was closely analyzed by analysts and investors.

Greenspan's economic convictions and his political influence made him internationally one of the most closely watched voices in global financial policy. Economists, politicians, and market participants will continue to discuss his work even after his death.

His death marks the end of an era of US monetary policy that was significantly shaped by Greenspan's cautious, often hard-to-fathom communication style. His successor and subsequent Fed chairs repeatedly had to measure themselves against his legacy.