depression. Greenspan shortly became known as the most feared man in the

Prior to being named Chairman of the Federal Reserve Bank, Greenspan had and idea of what a recession was. He was born in New York City on March 6, 1926 and was a child during the great depression. He was the son of a stockbroker and retail worker. At a early age, Alan showed interest in mathematics, and gift for figures. His first real paying job as a late teen was playing a sax in a local band. Then after he completed high school Greenspan enrolled as a economic student at New York University. From there he went on to own, his own consultancy firm and even became the director for policy research for Nixon’s presidential campaign. “ In 1974 he was appointed Chairman of the Council of Economic Advisors, by president Reagan”. (BBC News, pg 4) Then in 1987 he succeeded Paul Volker as the head of the Federal Reserve, where he has been to this day.

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