Alan Greenspan, the former US Federal Reserve chairman who presided over a decade of economic prosperity, has died at the age of 100. Greenspan died from complications of Parkinson’s disease, according to his wife, NBC News correspondent Andrea Mitchell.

Legacy of the Maestro

Greenspan was celebrated for his role in engineering a decade of economic growth and was often referred to as the ‘Maestro’ of the economy. During his 18-year tenure at the Fed, he oversaw a period of low inflation and high economic growth, earning him widespread acclaim.

However, his legacy was later marred by criticism of his handling of the housing market bubble and the subsequent financial crisis. Greenspan acknowledged that he had made mistakes, including his assumption that banks could regulate themselves.

Economic Impact

Greenspan’s time at the Fed saw significant economic growth, with the US economy experiencing a 10-year expansion from 1991 to 2001. He was also credited with helping to restore stability to the financial markets after the 1987 stock market crash.

Despite his later critics, Greenspan remained a respected figure in the world of economics and was praised for his transparency and communication skills. He was the first Fed chair to issue a statement explaining the Fed’s interest-rate decisions and began releasing minutes and transcripts of meetings.

Original reporting: Texarkana Gazette — read the source article.