Former Federal Reserve Chairman Alan Greenspan, who served five terms under four presidents, has died at the age of 100. Greenspan’s death was announced by his wife, Andrea Mitchell, a correspondent for NBC News.

Legacy of the Former Fed Chairman

Greenspan was a giant of a man who helped shape the U.S. economy for decades under presidents of both parties. He was known for his honesty in acknowledging his mistakes and was a strong advocate for individual liberty and free-market principles.

During his time at the Fed, the US economy experienced one of the strongest peacetime economic expansions in its history. Unemployment fell below 4%, the stock market reached record highs, and the federal government began running budget surpluses rather than deficits.

However, Greenspan’s legacy was also marked by criticism for his role in the housing bubble and the subsequent financial crisis. Many economists argue that the low interest rates set by the Fed during his tenure helped inflate the housing bubble and encouraged investors to give mortgages to borrowers who would not have previously qualified for home loans.

Original reporting: El Paso News (HLL/CB) — read the source article.