Alan Greenspan -Chairman of Federal Reserve 1987~2006-
Hello people, I am Alan Greenspan.
I'm a financial adviser best known for my service as chairman of the Federal Reserve Board of the United States from 1987- 2006.
Early Life
I was born March, 6, 1926, in New York City where My father worked as a stockbroker and financial analyst. I attended George Washington High School from 1940 until I graduated in 1943. I played clarinet and saxophone along with classmate Stan Getz. I further studied clarinet at the Juilliard School from 1943 to 1944. In 1945 I transferred to New York University where he earned a B.S. degree in economics summa cum laude in 1948 and an M.A. degree in economics in 1950. At Columbia University, I pursued advanced economic studied but dropped out. In 1977, I obtained a PhD degree in economics from New York University.
My Career Before the Chairmanship
I worked on Wall Street throughout much of his time as a student at NYU. I held a position in the equity research department of the firm Brown Brothers Harriman before assuming leadership of Townsend-Greenspan & Co., a consulting firm, in 1955. I retained this position until my federal appointment in 1987. I also served on a number of corporate boards and coordinated the domestic-policy positions of Richard Nixon during his 1968 presidential campaign.
After Nixon's victory, I remained involved in politics, acting as the chairman of the president's Council of Economic Advisers under Gerald Ford. From 1981 to 1983, during the administration of Democratic president Jimmy Carter, I chaired the bipartisan National Commission on Social Security Reform.
After Nixon's victory, I remained involved in politics, acting as the chairman of the president's Council of Economic Advisers under Gerald Ford. From 1981 to 1983, during the administration of Democratic president Jimmy Carter, I chaired the bipartisan National Commission on Social Security Reform.
Chairman of the Federal Reserve
President Ronald Reagan nominated me as a chairman of the Federal Reserve in 1987. I would remain in that position until 2006.
My major accomplishment are;
My major accomplishment are;
- During my tenure, I helped steer the economy through the crash of 1987, the recession of the early 1990's, the dot-com bubble and the terrorist attacks of September 11th.
- In 2004, I was appointed to his fifth term as Chairman of the Board.
- In 1998 unemployment reached a 24-year low, inflation hit an 11-year low and consumer confidence was the highest it had been in 30 years (this proves my policy had been successful!!)
My view of Economy
I believed that inflation is the only way to solve the recession. As higher inflation will lead to a lower unemployment. I tried to inflate the US economy by lowering the interest rate, so that the private investment would be encouraged and firms will have more incentives and employ more of capitals and labors. That would certainly increase the short-run aggregate supply as well as the long-run aggregate supply in the nation. That would allow the SRAS to shift to the right and LRAS will follow shifting to the right, leading the nation's GDP to rise. That was my intention behind my policy.
My Major publications
The Age of Turbulence (2007)
Thank you guys for reading my page :)
- Alan Greenspan
- This book is an autographical chronology of my life
- The half of the book retells major economics events occurred over the past century
- The other half includes an analysis and brief history of major global economic constructs
- This book questions some fundamental assumptions about risk management and economic forecasting
- To answer this questions I embarked on a rigorous and far-reaching multiplier examination of how Homo economics predicts the economic future, and how it can predict it better
- I tried to integrate the history of economic prediction, the net work of behavioral economists and my own remarkable career to offer a thrillingly lucid and empirically based grounding in what the readers can
Thank you guys for reading my page :)
- Alan Greenspan