Essay Alan Greenspan
The Modern Economist
Alan Greenspan a great Modern Economist was the second longest appointed chairman of the Federal Reserve by President Ronald Reagan in 1987 and served five intervals until 2006. He describes himself as a “long life Libertarian Republican." He now works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC.
Alan Greenspan: The Modern Economist
Alan Greenspan the modern day economist born March 6, 1926 into a Jewish family. He helped the United States prolong the modern day recession, but still seen the collapse. He …show more content…
In 1987 Ronald Reagan appointed him chairman of the Federal Reserve. He also was director of the council on Foreign Relations foreign policy organization between 1982 and then in 1988, where he served as a member of the influential Washington-based financial advisory body, the Group of Thirty in 1984. Greenspan said following the 1987 Stock market crash that the Fed “affirmed today its readiness to serve as a source of liquidity to support the economic and financial system.” Even Democratic President Bill Clinton consulted with Alan on economic matters, during Clinton’s 1993 deficit reduction program.
After the attacks of September 11, Greenspan led the Federal Reserve to initiate a series of interest cuts that brought down the Federal Funds Rate to 1% in 2004. Greenspan was quoted saying “It is not that human have become more greedy than past generations. It is that the avenues to express greed had grown so enormously.”, and suggested that financial markets need to be regulated. In 2004 George W. Bush appointed Greenspan on his fifth and final term of Chairman of the Federal Reserve member of the Board ended in January 2006 when Ben Bernanke was confirmed his successor. After leaving the Federal