The Federal Reserve notes with deep sadness the passing of Alan Greenspan. Chairman Greenspan served as the 13th Chairman of the Board of Governors from 1987 to 2006, and his contributions to monetary policy and economic thought left a lasting mark on this institution, on the broader field of economics, and on the country.
During his 18 years as Chairman, he guided the Federal Reserve through periods of significant economic expansion as well as periods of considerable stress. 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.
He brought rigorous analytical discipline to monetary policymaking and helped establish the credibility that remains one of the Federal Reserve's most important assets.
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.
