A Tribute to Alan Greenspan
Hall of Financial Giants
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Greenspan, Alan was born in New York City. He became an informal adviser to President Richard Nixon and became chairman of the Council of Economic Advisers in 1974. Greenspan remained at the council under President Gerald Ford, during which time his policies were credited with reducing inflation but leading to recession. In 1987 President Ronald Reagan appointed him chairman of the Federal Reserve Board. Greenspan believed in deregulation of the banking industry and opposed government intervention in the economy. He opposed tax cuts, believing that they would contribute to the growing federal deficit. Greenspan was appointed to terms as chairman of the Federal Reserve Board in 1992 and 1996. Biography from the MSN Encarta.
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