Former head of the Federal Reserve dead at 100
Alan Greenspan, the economist who became one of the most powerful figures in global finance in his nearly two decades at the US Federal Reserve, has died at the age of 100.
Greenspan, who chaired the Federal Reserve from 1987 until 2006 under four presidents, died Monday from complications related to Parkinson's disease, according to reports confirmed by his wife, veteran journalist Andrea Mitchell.
He is survived by Mitchell, whom he married in 1997.
'Alan passed away at our home this morning at the age of 100 from complications of Parkinson's Disease,' Mitchell said in her statement.
'He was a giant of a man who helped shape the US economy for decades under presidents of both parties, but was always honest in acknowledging his mistakes,' she said.
For years, Greenspan was regarded as the undisputed master of the American economy, earning the nickname 'The Maestro' as business leaders turned to him for insight about interest rates and the broader economy.
His tenure spanned some of the most dramatic moments in US history, including the 1987 stock market crash, the Asian financial crisis, the dot-com boom and bust and the aftermath of the September 11 terrorist attacks.
After leaving the Federal Reserve in 2006, Greenspan remained a prominent voice on economic issues by authoring books, advising corporations and continuing to comment on global market trends.
Alan Greenspan, former chairman of the Federal Reserve, is survived by his wife Andrea Mitchell
Alan Greenspan was sworn-in as chairman of the Federal Reserve by President Ronald Reagan
His reputation was tainted, however, by the global financial crisis which struck a decade later.
Born in New York City in 1926, Greenspan initially pursued music and played clarinet and saxophone before turning to economics, eventually earning advanced degrees and building a successful consulting business.
Appointed to his role in the Federal Reserve by President Ronald Reagan in 1987, Greenspan remained in office through the administrations of George H W Bush, Bill Clinton and George W Bush.
As a result, he became one of the longest-serving Federal Reserve chairmen in US history.
During the 1990s, he was credited with helping oversee a period of economic expansion.
His decision to resist calls for interest-rate hikes during a productivity-driven boom fueled years of low inflation, elevating him to near-celebrity status in Washington and on Wall Street.
As a result, tributes poured in following news of his death, with many calling him one of the most influential economic policymakers of the late 20th century.
Greenspan and Mitchell met in 1983, when the former journalist interviewed him about the future of Social Security
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One X user called him, 'a landmark figure in economic history,' writing, 'Alan Greenspan shaped monetary policy through one of the most transformative eras in modern finance.'
'He defined the era of the 'Great Moderation low inflation, stable growth…until it all ended. It has a huge influence. The end of an era,' another X user wrote.
The Federal Reserve shared a statement saying it 'extends its deepest condolences to his wife, Andrea Mitchell, and to his family.'
'Chairman Greenspan's legacy endures at the Federal Reserve,' the statement adds. 'in those he mentored directly, in the economists and public servants he inspired, and in the frameworks and practices he helped shape.'
Badenoch blasts 'moaning' female Labour MPs over Burnham jobs 'quota'
Kemi Badenoch has told Labour women to earn a job in Andy Burnham's Cabinet instead of demanding they are handed jobs because of their gender.
The Tory leader lashed out today amid reports that female MPs are demanding the de-facto new prime minister introduce a 50:50 gender split 'quota' in his government.
Amid reports that former foreign secretary David Miliband is being lined up to return to the role, possibly with his brother Ed as Chancellor, one female minister also complained that Burnham could not have 'more Milibands than women' in the top posts.
But in a scathing article in the Times today Mrs Badenoch told them to 'stop moaning' and get chosen on merit instead of retreating into 'more of the failed identity politics that is holding back our country'.
'There are many, many reasons why you shouldn't have any Milibands in the cabinet,' she said.
'But complaining that the boys haven't given them the right jobs or that the boys are taking all the jobs, just shows that Labour's women still don't get it.'
The idea of quotas was also attacked by Baroness Jacqui Smith, Labour's Skills Minister.
Asked by Times Radio if Mr Burnham should reserve jobs for women, she said: 'No, I think what Andy Burnham should be doing is building the very best team around him to change this country.'
A letter written by the Women's Parliamentary Labour Party has called on Mr Burnham to ensure a 50:50 split between men and women in government jobs
Amid reports that former foreign secretary David Miliband (above, right, in 2010) is being lined up to return to the role, possibly with his brother Ed as Chancellor, one female minister complained that Burnham could not have 'more Milibands than women' in the top posts
But Mrs Badenoch told them to pipe down and get chosen on merit instead of retreating into 'more of the failed identity politics that is holding back our country'
A letter written by the Women's Parliamentary Labour Party and seen by the BBC has called on Mr Burnham to ensure a 50:50 split between men and women in government jobs after he succeeds Sir Keir Starmer.
'We are asking you to demonstrate this change from day one and address the toxicity and misogyny within our own party and government,' it said.
Labour has never had a female leader, while the Conservatives have had three, and Mrs Badenoch urged the government to follow its meritocratic example.
'If you run a meritocracy, then you do not have to worry about jobs for the boys,' she wrote.
'Every woman who is a Conservative MP, every woman who has ever won the leadership, has had to fight to get where she is.
'By contrast, Labour women are demanding guarantees from Burnham. But the truth is he doesn't have to give any guarantees.
'If none of Labour's women are prepared to get their hands dirty and challenge him for the leadership, their demands are toothless.'
'In fact, it's quite revealing that the women's parliamentary Labour Party has written to Burnham asking him to commit himself to at least 50 per cent female ministers.
'This has nothing to do with meritocracy. It is yet more of the failed identity politics that is holding back our country.'
