From The Free Forex Encyclopedia
Alan Greenspan was nominated as Chairman of the Board of Governors of the Federal Reserve (US) by US President Ronald Reagan, as Paul Volcker’s successor by the Senate (1987). He gained fame, dealing with Black Monday stock market crash (1987). He established himself as a market, US economic and US monetary policy authority.
Alan Greenspan left the Federal Reserve in January 2006. He became famous for stewarding the Internet’s dot.com boom in the 1990’s, and his criticism of the US government’s monetary policies. After his retirement, he was given an honorary position, unpaid, at HM Treasury (UK).
Greenspan has served under at least four US presidents. He has received the US Presidential Medal of Freedom (2005), the Knight Commander of the British Empire (2002), and the Legion d’honneur. He continues to work as a consultant and is currently writing his memoirs.
Born in 1926 in New York, Alan Greenspan grew up to achieve an MA in Economics at New York University (1950). He was eventually awarded a Ph.D. in Commercial Science (2005). Alan Greenspan began writing newsletters and a book chapter in Ayn Rand’s ‘Capitalism: The Unknown Ideal’ in 1950. He was an economic analyst with the Conference Board (1948). He became Chairman/President/Economic Consultant for Townsend-Greenspan & Co (1955). By age 33 (1982) he served under US President Gerald Ford as the Chairman of the Council of Economic Advisers. He has also been a corporate director for 8 different companies since then.