Bloomberg Podcasts · Special Report: Alan Greenspan Dies at 100 | Wall Street Week

1. 1. Alan Greenspan, former Federal Reserve chairman, died at age 100.
2. 2. Greenspan's first exposure to global finance was at the 1944 Bretton Woods conference, where he played clarinet in a jazz band.
3. 3. Greenspan is known for the 'Greenspan put,' which supported the economy and contributed to unprecedented prosperity in the 1990s.
4. 4. Greenspan admitted he could not anticipate negative interest rates, a concept not taught in economics.
5. 5. Greenspan warned that entitlements are crowding out gross domestic savings dollar for dollar, calling it a huge political issue.
6. 6. Greenspan achieved celebrity status under President Bill Clinton, dubbed a 'rock star' and 'the maestro' by admirers.
7. 7. Greenspan set policy independently and used signals like the size of his briefcase to hint at rate moves.
8. 8. Greenspan coined the phrase 'irrational exuberance' during the 1990s tech boom.
9. 9. Greenspan cut rates three times after the 1998 Long-Term Capital Management collapse, a playbook later used by Jay Powell.
10. 10. Greenspan's legacy was later dimmed by the 2008 financial crisis, though he is still considered a giant of central banking.
11. 11. Greenspan was a strong advocate of central bank independence, a tradition defended by Jay Powell against political pressure.
12. 12. Greenspan was influenced by Ayn Rand and went through different intellectual fashions throughout his career.