Alan Greenspan, longtime head of the Federal Reserve, dies aged 100

Alan Greenspan, the longtime head of the Federal Reserve and influential economist, has died aged 100.

Greenspan died at his home from complications of Parkinson's disease on Monday, Sky News' partner NBC reported.

He held powerful influence over the economy during his tenure from 1987 to January 2006.

Greenspan was hailed as the greatest Federal Reserve chairman when he retired 20 years ago but was criticised for the global financial crash that happened two years later.

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He is survived by his wife of 29 years, Andrea Mitchell, NBC's chief Washington and chief foreign affairs correspondent.

She said in a statement: "Alan passed away at our home this morning at the age of 100 from complications of Parkinson's disease.

"He was a giant of a man who helped shape the US economy for decades under presidents of both parties, but was always honest in acknowledging his mistakes.

"To me he was my husband who shaped my life from our very first date in 1984. He had 'irrational exuberance' for baseball, the Washington Commanders, tennis, golf and music, especially jazz.

"He will be remembered for his brilliance and kindness. Being his life partner was the joy of my life."

The one-time jazz musician oversaw the second-longest economic expansion in US history, a decade of growth that went uninterrupted from March 1991 to March 2001.

His decision to let the economy run, despite pressure to raise interest rates against an inflation threat that never materialised, helped the US economy prosper and led to him being dubbed an economic "maestro".

He was also credited for steering the US economy through the 1990-91 recession, the 1997-1998 Asian and Russian financial contagion, collapse of the dot-com stocks bubble in 2000 and the aftermath of 9/11.

But his policies were accused of fuelling a series of asset price bubbles and laying the groundwork for the 2007 to 2009 financial crisis.

However Stephen Oliner, a former senior Fed official, said: "I think the deification that came just ​before the financial crisis was never really deserved, and I think the lambasting that he took after he left was never fully deserved either."

(c) Sky News 2026: Alan Greenspan, longtime head of the Federal Reserve, dies aged 100