After completing his primary education, Alan Greenspan embarked on a higher education journey, pursuing a bachelor's degree in economics at New York University. He successfully completed his undergraduate studies in 1948, and subsequently, he earned a master's degree in the same field from the same institution in 1950.
Following his master's degree, Greenspan continued his academic pursuits, enrolling in a doctoral program at New York University. He successfully completed his doctorate in economics in 1977, marking the culmination of his academic journey.
Greenspan's early professional career began in the 1950s, when he started working as a financial advisor in Manhattan. His professional journey continued to unfold when he co-founded the management consultancy Townsend-Greenspan & Company with William Townsend in 1953. He became the president of the company after Townsend's death in 1958.
Greenspan's involvement in politics began when he supported US President Richard Nixon in the 1974 presidential election campaign. His endorsement earned him the appointment as the chairman of the Council of Economic Advisers (CEA),a position he held until 1977. During his tenure, he also advised President Gerald Ford until 1977.
After a brief hiatus from politics, Greenspan returned to his private business activities during Jimmy Carter's presidency from 1977 to 1980. His professional journey continued when he was appointed chairman of the Commission on Social Security Reform in 1981, a position he held until 1983.
Greenspan's most notable professional achievement came in 1987 when he was nominated as the chairman of the Board of Governors, the governing body of the Federal Reserve System. He served in this position for nearly two decades, becoming the second most powerful man in the United States.
Despite initial conflicts with President George Bush over interest rate policy, Greenspan was confirmed for a second term in 1991. He continued to serve in this position, even after the transition of power to President Bill Clinton in 1993. Clinton confirmed Greenspan for a third term in 1996.
Greenspan's tenure as the chairman of the Federal Reserve was marked by the longest economic rise in US history. He continued to serve in this position even after President George W. Bush took office in 2001, serving in his fourth term.
Throughout his career, Greenspan received several awards and honors, including the Thomas Jefferson Award in 1976. In 2005, he warned against a further increase in oil prices, citing the potential risks to economic growth.
Greenspan resigned as the chairman of the Federal Reserve in January 2006, after serving in the position for nearly two decades. He received an honorary doctorate from New York University in the same year.
In his personal life, Greenspan was married twice, first to Joan Mitchell from 1951 to 1952, and then to NBC reporter Andrea Mitchell from 1997 until their divorce a few months later.
