Dr. Alan Greenspan, KBE was born March 6, 1926. He is an American economist and Chairman of the Federal Reserve. He is considered by many to be the leading authority and key participant concerning United States domestic economic policy. For example, he has been instrumental in how the U.S. government deals with inflation. Given the breadth of his experience, he has been referred to in the media as "the economist's economist" and "maestro".
Greenspan was born in New York City to a Jewish family. He earned a Master's degree in Economics in 1950 from New York University, and a Ph.D. in Economics in 1977. He also attended Columbia University for advanced graduate study.
During the 50's and 60's Greenspan was a close associate of author-philosopher Ayn Rand and a leading figure within the Objectivist movement. Working through the Nathaniel Branden Institute he gave many speeches advocating unfettered capitalism as a social and economic philosophy. He also authored many articles for Objectivist newsletters, and contributed a chapter for Rand's 1966 book Capitalism: the Unknown Ideal. Somewhat ironically, considering his later career, at the time Greenspan was a strong advocate that the United States embrace the gold standard rather than accept monetary policy set by the US central bank.
In the mid-1980s, Greenspan was on the board of directors of Alcoa.
Today Mr. Greenspan is Chairman of the United States Federal Reserve Board, an office he first took on August 11, 1987. On May 18, 2004, he was nominated by President George W. Bush to serve for an unprecedented fifth term. He has been appointed to this post by U.S. Presidents Ronald Reagan, George H. W. Bush, and Bill Clinton. From 1974 to 1977, he was Chairman of the Council of Economic Advisers under Gerald Ford.
His honorary titles include Knight Commander of the British Empire, bestowed in 2002 and Commander of the Légion d'honneur (Legion of Honor).
He is married to NBC journalist Andrea Mitchell.
Greenspan's term as Chairman of the Federal Reserve is set to expire in January 2006, and he is not eligible for renomination to a sixth term in that position.