US economy

Alan Greenspan has died at 100. He ran the Federal Reserve for 18 years across five presidencies, gave us 'irrational exuberance' as a concept and near-zero rates as a habit, and spent his final decades defending both decisions against a financial crisis that vindicated his critics more than his supporters. The 'Greenspan put' outlived him and still operates, in spirit if not in name, every time the Fed pivots on market distress.