Alan Greenspan Essay

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Alan Greenspan

Alan Greenspan, the chairman of the Federal Reserve, has always fascinated the financial community. Whatever he says can make or break the markets. He is a highly educated economist with many years of experience. People seek for his advice and obey his judgments. His proclamations are repeated and expounded upon. Greenspan is loved, feared, and never ever questioned. As a result of being a strong chairman of the Fed, he has made a difference the U.S. economy through his way of dealing with inflation. Also, the presidency no longer counterbalances or even criticizes the Fed. First of all, we will consider his background.

Alan Greenspan was born on March 6, 1926, in New York City. He received a B.S. in
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Dr. Greenspan has served in many corporate and noncorporte positions. In recent years he has served as a Corporate Director for Aluminum Company of America (Alcoa); Automatic Data Processing, Inc.; General Foods, Inc.; J.P. Morgan & Co., Inc.; Mobil Corporation; and The Pittston Company. Some of his noncorporate positions include Member of the Board of Trustees, The Rand Corporation; Director, Institute for International Economics; Member of the Board of Overseers; and Vice Chairman and Trustee, Economic Club of New York (Board of Governors par. 6,7).

There are a few interesting facts about his personal life and personality. He was a newlywed at the age of 71, some 44 years after his first marriage was annulled. He was a musician in the 1940s before turning to a life of number crunching. Although he is an admirer of technology, he drafts his speeches in longhand. In addition, he is famous for not speaking at parties. One hostess observed that he would nod a lot and at the end of the night people say, “Wow! That man is brilliant,” even though he had never said anything (Chait 22). In fact, one congressman’s wife observed him at a party and in 35 minutes of chatter, he had only spoken 22 words. Most of the words were directed towards the person serving the hors d’oeuvers. However, he still

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