Alan Greenspan, the former Federal Reserve chairman whose tenure shaped the global economy for nearly two decades, has died at the age of 100. The UK Treasury led tributes, praising his influence on monetary policy and financial deregulation. Greenspan’s legacy is complex: he was heralded as a master of the economy but also criticised for policies that widened inequality and fostered the 2008 financial crisis.
For working people in the North, his era meant cheap credit but stagnant wages and housing bubbles. Today, as the cost of living crisis deepens, Greenspan’s vision of a deregulated market faces renewed scrutiny. Treasury officials acknowledged his role in the “Great Moderation” while urging focus on current challenges.
Union leaders noted that Greenspan’s policies often prioritised inflation control over employment, leaving many behind. His death marks the end of an era, but the battles over his economic legacy continue at kitchen tables across Britain.