Alan Greenspan, Fed Chairman Prior to Subprime Mortgage Crisis, Dies at 100

Alan Greenspan, the long serving Federal Reserve chairman who oversaw years of prosperity leading up to the subprime mortgage crisis, has died. He was 100.

Greenspan’s wife of 29 years, NBC News correspondent Andrea Mitchell, confirmed his death in a statement shared with her outlet on Monday, saying he had died in their home in Washington, DC.

“Alan passed away at our home this morning at the age of 100 from complications of Parkinson’s disease,” Mitchell said in a statement. “He was a giant of a man who helped shape the U.S. economy for decades under presidents of both parties, but was always honest in acknowledging his mistakes,” she said.

Greenspan was a titan of monetary policy who served as Fed chairman under four presidents from 1987 to 2006. He pushed for low rates and deregulation, helping to spur one of the biggest economic booms in American history. But critics say his policies helped fuel the housing bubble that imploded with the subprime mortgage crisis of 2007, leading to the Great Recession.

In a statement noting his passing, the Fed said that Greenspan “left a lasting mark on this institution, on the broader field of economics, and on the country.”

“Under his leadership, the Federal Reserve achieved a sustained era of price stability that supported economic growth and helped anchor the public’s confidence in the institution,” the statement said. “He brought rigorous analytical discipline to monetary policymaking and helped establish the credibility that remains one of the Federal Reserve’s most important assets.”

Developing story, more to follow.

Keith Griffith is a senior news editor at Realtor.com covering housing policy, real estate news, and trends in the residential market. Previously, his work has appeared in Business Insider, The Street, Chicago Sun-Times, New York Post, and Daily Mail, among other publications. He has a master’s degree in economic and business journalism from Columbia University.